Discussion of value added taxes

Assignment Help Accounting Basics

Reference no: EM1359572

1. A furniture manufacturer sells $500,000 worth of tables, chairs, and other items in a given year. The manufacturer earns a profit of $100,000 that year. His purchase invoices indicate that he bought $200,000 worth of lumber, varnish, nails, and other materials during the year. His labor costs were $150,000, and he purchased $50,000 of new equipment that year. Calculate his tax liability under a 15% consumption type VAT. Give examples of different types of alternative VATs, and explain their use.

2. What is a VAT? Give an example of VAT in other nations.

3. What is the difference between centralized and decentralized government? What are the advantages of a federal system of government?

Reference no: EM1359572

Questions Cloud

What is the standard deviation for the true error rate : Consider a learned hypothesis, h, for some boolean concept. What is the standard deviation and the 95% confidence interval for the true error rate for Errorv(h)?

Explain how might the relative importance of each imc : Explain How might the relative importance of each of these IMC elements be different if your parents were making the purchase?

Money market hedge on payables : Suppose that Vermont Corporation has net payables of 200,000 Mexican pesos in 180 days. The Mexican interest rate is seven percent over 180 days, and the spot rate of the Mexican peso is $.10.

Genetic testing without the patient consent : Can genetic testing take place without the patient's consent? If so can it take place and results NOT provided to the patient?

Discussion of value added taxes : What is a VAT? Give an example of VAT in other nations. What is the difference between centralized and decentralized government? What are the advantages of a federal system of government?

Money market hedge on receivables : Suppose that Stevens Point Corporation has net receivables of 100,000 Singapore dollars in ninety days. The spot rate of the S$ is $.50, and the Singapore interest rate is 2 percent over ninety days.

Explain the company''s value chain to determine : Explain the company's value chain to determine where they can create value using the resources and capabilities and core competencies discussed above.

How many instructions can be executed during waiting period : f the machine is capable of executing ten instructions each microsecond, how many instructions can be executed during this waiting period? Show the details of all calculations.

Fixed overhead budget and volume variance : The Stanford Company uses a standard cost system for and applies overhead based on machine hours. The following information is available for June: Calculate the fixed overhead budget variance and volume variance for the month of June.

User Account

All Pages