Journalize the following transactions of Trapper Jon’s Productions. Assume 360 days in a year. If an amount box does not require an entry, leave it blank.
June 23 Received a $48,000, 90-day, 8% note dated June 23 from Radon Express Co. on account.
Sept. 21 The note is dishonored by Radon Express Co.
Oct. 21 Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Radon Express Co. on September 21.
June 23
Notes Receivable __________
Accounts Receivable-Radon Express Co. _______
Sept. 21
Accounts Receivable-Radon Express Co. _________
Notes Receivable ________
Interest Revenue _________
Oct. 21
Cash ________
Accounts Recelvable-Radon Express Co. _____
Interest Revenue ________
Answers
Answer:
June 23 Received a $48,000, 90-day, 8% note dated June 23 from Radon Express Co. on account.
Dr Notes receivable 48,000 Cr Accounts receivable 48,000Sept. 21 The note is dishonored by Radon Express Co.
Dr Accounts receivable 48,960 Cr Notes receivable 48,000 Cr Interest revenue 960When a customer defaults on a note, the company is allowed to convert the note back to accounts receivable and charge any accrued interests. Depending on the client, the company can give them more time (by switching back the note into accounts receivable) or the company can write off the note and try to sell it to a collection company.
Oct. 21 Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Radon Express Co. on September 21.
Dr Cash 49,368 Cr Accounts receivable 48,960 Cr Interest revenue 408Related Questions
On average, our representatives enroll one customer every 3 hours, while top performers make one sale per hour. How would you plan your workweek to maximize your earnings?*
Answers
Plan your workweek to maximize your earnings Identify peak sales hours, Set ambitious goals, Allocate more time during high-performance hours, Continuous improvement, Efficient time management, Develop strong customer relationships, and Continuous learning.
To maximize earnings in this scenario, it is important to strategically plan the workweek and focus on increasing the number of customer enrollments. Here is a potential plan to maximize earnings:
1. Identify peak sales hours: Analyze the data and determine the hours or time slots when sales are most likely to occur. This could be based on historical data or observations of customer behavior. Allocate more time during these peak hours to capitalize on potential sales opportunities.
2. Set ambitious goals: Aim to achieve or exceed the performance of top performers by setting ambitious sales goals. This mindset will drive motivation and focus throughout the workweek.
3. Allocate more time during high-performance hours: Dedicate a larger portion of the workweek to the hours when top performers make one sale per hour. By increasing the number of hours during these periods, there is a higher likelihood of securing more customer enrollments.
4. Continuous improvement: Regularly analyze and reflect on sales techniques and strategies. Identify areas for improvement and seek ways to refine your approach. This could involve studying successful sales tactics, attending sales training sessions, or seeking feedback from experienced colleagues or mentors.
5. Efficient time management: Optimize time management skills to ensure productivity during working hours. Eliminate distractions, prioritize tasks, and maintain a focused and organized work environment. This will help maximize the number of customer interactions and increase the chances of securing enrollments.
6. Develop strong customer relationships: Emphasize building rapport and establishing strong connections with potential customers. Focus on active listening, understanding their needs, and providing personalized solutions. By developing trust and fostering positive relationships, the likelihood of successful enrollments can increase.
7. Continuous learning: Stay updated on industry trends, product knowledge, and competitor offerings. This will enable you to effectively address customer inquiries, overcome objections, and provide value-added insights during sales interactions.
By implementing these strategies, planning the workweek to prioritize peak sales hours, setting ambitious goals, improving sales techniques, and managing time efficiently, you can increase the likelihood of maximizing earnings by securing a higher number of customer enrollments.
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When should a transfer of receivables be recorded as a sale? The buyer surrenders control of the receivables to the seller. The transferor does not maintain effective control over the transferred assets through an agreement to repurchase or redeem them prior to their maturity. The transferor maintains effective control over the transferred assets through an agreement to repurchase or redeem them prior to their maturity. The transferred assets are isolated from the transferor.
Answers
Answer:
The transferor does not maintain effective control over the transferred financial asset or third party beneficial interest in the asset.
Explanation:
The code for transfer of receivable provisions, allows creditor of a debt to have the right to transfer his/ her receivable right to another person, provided that the transaction is permitted by the law/ contract nature of business. Transfer of receivables permit the third person/ party to be included in the relationship that exist between debtor and creditor, and this allows him/ her to near the title of creditor.The receivable must be an existing one before the receivable transfer can be possible. It should be noted that for transfer of receivables be recorded as a sale, The transferor does not maintain effective control over the transferred financial asset or third party beneficial interest in the asset.
Receivables, also defined as accounts receivable, are debts outstanding to a company by customers for goods or services that have been used or produced but have not yet been paid for.
Receivables are produced when a corporation extends a line of credit to a client, and they are recorded as current assets on the balance sheet.
The transferor has no effective control over the transferred financial asset or even the asset class third-party advantageous interest.
The reason for the correct answer is:
The code for transfer of receivable provisions permits a borrower's creditor to transfer his or her receivables right to another person if the transaction is permitted by law/contract nature of business. Transfer of receivables permits a third party to be included in the debtor-creditor relationship, allowing him or her to come close to holding the title of creditor. Before a payable transfer may actually occur, the receivable should already exist. It is important to focus on in order for a transfer of receivables to be recorded as a sale, the grantor must not have effective control over the transmitted capital product or a third-party advantageous interest in the asset.
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Now create your activity report by filling in the template provided below. (Note: You can copy and paste the template into a new document or recreate the template in a new document that you will submit to your teacher with this worksheet.) Imagine this week you finished setting up a spreadsheet to track current projects and compared prices from two different office supply companies. (3 points)
Answers
A business activity report simply means a document which is used by an economic entity to list down tasks, and other activities.
Your information isn't complete as the template isn't given. Therefore, an overview of an activity report will be given. It's simply used for listing tasks.
In order to write an activity report, the person should click on the reports tab, click on new report button, click on activities folder, click on tasks, and click the create button.
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Why should an entrepreneur do a feasibility study for starting a new venture
Answers
Answer:
Because a feasibility study assists entrepreneurs in understanding the market, the budget needed to launch a company, the liquidity factors of a business endeavor, and the return on investment in the initiative.
exponent 5/3 write the exponential expression in expanded form and standard form
Answers
The exponential expression in expanded form and standard form for the exponent 5 to the power 3 is 125.
Here,
= 5³
= 5 × 5 × 5
= 25 × 5
= 125
Thus, the expanded form of 5 raised to the power 3 is 125.
The exponential expressions are just a way to write powers in the short form. Thus, the exponent tends to indicate the number of times the base which is thus used as a factor.
Hence, the expanded form means expressing according to a place value, and standard form means expressing numbers using the given numbers.
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Explain how the employer promotes the health and safety of employees to minimise the risk of contracting the corona virus
Answers
There are many ways the employer can do this. Here are some examples:
✰ - Forcing all employees to get tested
✰- Must wear masks
✰- If it is a doctors/dentists, or somewhere you can't social distance, have employees wear face shields
✰- Social Distance, if possible.
✰- Sanitize anywhere a patient/customer could have been
Which debtors should have their credit lines reduced? A. debtors who pays within 30 days B. debtors who have a substantial amount due for more than 60 days C. customers who make cash payments D. a customer who has paid his balance within 60 days
Answers
The debtors should have their credit lines reduced is (D) a customer who has paid his balance within 60 days.
What do you mean by debtors?A person or business who owes money to another person or company is said to be a debtor. For instance, in the case of a car loan from your credit union, you would be the debtor and the credit union would be the creditor.
Who is called sundry debtors?A Sundry Debtor is a person who purchases goods or services from a company on credit or who defers payment and will eventually be responsible for paying the company. Businesses utilize a Sundry Debtor account or Accounts Receivable to keep track of these transactions. Customers that owe money to the business are known as debtors or "receivables." They borrowed money to buy the products, and they still owe money. Customers of a business that infrequently use credit and make small-ticket purchases are referred to as miscellaneous debtors or "sundry receivables."
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all law enforcement employees should contribute ideas related to budget items as specific needs arise. True or false
Answers
The statement that all all law enforcement employees need to contribute ideas for budget items because specific needs arise is A. True.
How are law enforcement budgets decided ?The art and science of creating a budget for a police department go hand in hand . Executives from the police department spend weeks, if not months, compiling data, prices, and recommendations in order to provide a comprehensive financial report that details every program offered and every dollar spent .
Rules for decision-making and decision-implementation must be used to govern the budget process . The community's requests for public safety reforms and a local government's financial deficiencies cannot be met through the usual budgeting procedure .
This is why all law enforcement employees need to be able to contribute ideas to the budget items being discussed as there might be specific needs arising .
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you are a euro-based portfolio manager and you have invested in the technology sector of the U.S. stock market. You want to keep your exposure to tech stocks but are worried about an impending financial crisis in the United States. What is the best way to manage your dollar currency risk
Answers
Answer: You enter into Euro/USD forward contract.
Explanation:
Based on the information given in the question, the best way to manage the dollar currency risk is to enter into Euro/USD forward contract.
A forward contract is a contract between two parties whereby an asset is being bought it sold at a particular price in the future. It should be noted that forward contract is good for speculations.
Can someone please help me with PART B)
its very confusing to me.
Thank you.
Answers
Part B) The adjusting journal entries to the accounts of Banners Inc. are as follows:
Debit Bank Charges $50
Credit Cash $50
To record the bank charges.Debit Cash $4,000
Credit Notes Receivable $4,000
To record the receipt of the notes.Debit Cash $396
Credit Accounts Payable $396
To reverse an overstated check entered as $915 instead of $519.Debit Accounts Receivable $200
Credit Cash $200
To record an NSF check from a customer.Analysis of Transactions Affecting the Banners Records:Bank Charges $50 Cash $50
Cash $4,000 Notes Receivable $4,000
Cash $396 Accounts Payable $396
Accounts Receivable $200 Cash $200
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John Cotton is an employee at Radiance Senior Living. He received the following benefits from his employer during 2021 on the company’s location for company purposes:Personal protective equipment: $140 per monthEmployer-provided cell phone: $80 per monthMeals: $160 per month
What amount of these benefits is taxable for 2021?
Answers
The amount of these benefits that is taxable for 2021 is $1,680.
Benefits that is taxable for 2021The Benefits that is taxable for 2021 is Personal protective equipment of the amount of $140 per months.
Hence:
Taxable benefit=$140×12 months
Taxable benefit=$1,680
Therefore the amount of these benefits that is taxable for 2021 is $1,680.
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First, click on the CHANNELS tab
and view the different options your
backpack can be sold through. Click
on the SUMMARY tab to review all
the channel options. If you have any
channel options where you are not
making a positive gross profit per
bag, you should reconsider your
pricing.
Click on ACCEPT TERMS to agree
with the terms of each channel you
want to use to sell your product.
There may be some channels where
your SALES PRICE is outside the
allowed terms and conditions for that
channel. You will need to decide if
you want to change your price to
allow sales in that channel.
click to advance
Answers
Answer:
Yes
Explanation:
I just did it
Which of the following is most closely associated with SUPPLY?
A)A consumer goes to the store to purchase her groceries.
B)A bolt.company updates an old piece of machinery with a newer model.
C)A magazine publication company gives a raise to their workers
D)The price of lumber has decreased causing more lumber to be purchased than before.
Answers
We are required to find which of the options is closely related to supply.
The option which is closely related to supply is "The price of lumber has decreased causing more lumber to be purchased than before".
Supply is defined as the amount of goods or services a producer is willing to sell at a particular price over a period of time.
Some of the factors that affect supply are:
Price of other goodsSubstitute goodsTaste of the consumerWeather and climateDemand on the other hand is the amount of goods or services a consumer is willing to buy at a price over a period of time.
Therefore,
The option which is closely related to supply is "The price of lumber has decreased causing more lumber to be purchased than before".
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A farmer has developed a new type of fertilizer. This new fertilizer costs 20
percent more to produce than the old fertilizer but has better results: The
same land now produces 25 percent more crops each year.
Which statement best describes one way the farm will be affected by using
this new fertilizer?
A. The farm's opportunity cost for using fertilizer will increase.
O B. The farm's marginal cost for fertilizer will decrease.
O C. The farm's opportunity cost for using fertilizer will degrease.
O D. The farm's marginal cost for fertilizer will increase.
Answers
Answer: The statement which best describes one way the farm will be affected by using this new fertilizer is:
A. Marginal benefits will increase for each harvest.
Based on the given text, we can see that there is the development of a new type of fertilizer which was made by a farmer and there is a difference in cost which would have an effect.
With this in mind, we can see that because it costs 20% more to produce and has better results, then the effect this would have is that the marginal benefits would increase for each harvest.
Therefore, the correct answer is option A
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Select the correct answer.
George is ready to launch a designer tie collection under his own brand name. He now has to decide the right market price for his product. What would be the most important factor for George to consider while deciding on the right market price?
A.
the possible uses of the product
B.
the amount the customer can pay
C.
the payment methods used by his customers
D.
the locations at which the customers would buy the product
Answers
George is ready to launch a designer tie collection under his own brand name. He now has to decide the right market price for his product is the possible uses of the product. Thus, option (a) is correct.
The most crucial thing for George to consider when deciding on the correct market price for his designing tie collection is the value his target buyers place on his product.
George must grasp his target market's demands, preferences, and purchase behaviors. He must also evaluate the costs of creating and promoting his goods, the pricing paid by those around him, and the profit margin he desires.
As a result, the significance of the George to consider while deciding on the right market price are the aforementioned. Therefore, option (a) is correct.
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Cash turnover is 4.5 times with no of days in a year 360 days. Annual cash outflow is 175000. Accounts payable can be stretched by 20 days and it will cost 700 per annum. Is it beneficial to get the accounts payable stretched if the return on investment is 8%.
Answers
When the return on investment is greater than 8%, it would be beneficial to stretch the accounts payable as it would generate a positive return.
How to explain the turnover?To determine whether it is beneficial to get the accounts payable stretched, we need to calculate the net cash flow generated by the move and compare it to the cost of the extension.
First, we can calculate the cash turnover ratio:
Cash turnover = 4.5 times
Days in a year = 360 days
Cash turnover ratio = 4.5 times / 360 days = 0.0125
Next, we can use this ratio to calculate the average amount of cash held by the company:
Annual cash outflow = 175000
Average cash held = Annual cash outflow / Cash turnover ratio = 175000 / 0.0125 = 1400000
Then, we can calculate the cost of stretching the accounts payable by 20 days:
Cost of extension = 700 per annum
Finally, we can calculate the net cash flow generated by the extension:
Net cash flow = Average cash held - Cost of extension = 1400000 - 700 = 1399300
To check if the net cash flow is positive or not and it's worth to stretch the accounts payable we need to calculate the return on investment:
Return on investment = (Net cash flow / Cost of extension) x 100
If the return on investment is greater than 8%, it would be beneficial to stretch the accounts payable as it would generate a positive return.
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The below two statements are related to mindfulness
a. It is not obscure or exotic.
b. It is evidence-based.
TRUE
FALSE
Answers
It is true that mindfulness is evidence based and false that it is exotic.
What is mindfulness?Mindfulness. It's an easy term to understand. It implies that the mind is entirely focused on what is taking place, what you are doing, and the environment you are moving through. That might sound insignificant, but it annoys me that we frequently stray from the topic at hand. When our mind wanders, we get disconnected from our physical selves and quickly become preoccupied with compulsive thoughts about the past or worry about the future. And it stresses us out.
However, awareness is always present to bring us back to where we are, what we are doing, and how we are feeling, no matter how far we go. It's great to give mindfulness a go for a time if you want to understand what it is. You will discover tiny variances in the meaning in books, online, audio, and video since it's difficult to put into words.
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Type the correct answer in the box. Spell all words correctly.
What is the repercussion of excessive tax withholding?
If you withhold excessive tax, you will receive a
when you file your taxes the following year.
Answers
The repercussion of excessive tax withholding is that the tax payable will remain unpaid.
What is excessive tax withholding?A tax withholding means the amount of income tax that employer withholds from its employee's income to the payment of tax in government coffers in the employee's name
In conclusion, the repercussion of excessive tax withholding is that the tax payable will remain unpaid.
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Answer:
Refund
Explanation:
The IRS states that a refund will happen if this is the case.
Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following:
Common stock, $6 par value, 120,000 shares authorized
Preferred stock, 11 percent, par value $13 per share, 5,000 shares authorized
During the year, the following transactions took place in the order presented:
a. Sold and issued 21,900 shares of common stock at $26 cash per share.
b. Sold and issued 2,800 shares of preferred stock at $30 cash per share.
c. At the end of the year, the accounts showed net income of $41,600. No dividends were declared.
Required:
Prepare the stockholders’ equity section of the balance sheet at the end of the year.
Answers
Answer and Explanation:
The preparation of the stockholder equity section is presented below:
Tandy Company
Balance Sheet (Partial)
Stockholders Equity :
Contributed Capital :
Common stock (21,900 shares × $6) $131,400
Preferred stock (5,000 shares × $13) $65,000
Additional Paid in Capital - Common stock (21,900 shares × $20) $438,000
Additional Paid in Capital - Preferred stock (5,000 shares × $17) $85,000
Total Contributed Capital $719,400
Add: Retained Earnings $41,600
Total Stockholders Equity $761,000
Journalizing issuance of stock—at par and at a premium
Colorado Corporation has two classes of stock: common, $3 par value; and preferred $30 par value.
Requirements
Journalize Colorado’s issuance of 4,500 shares of common stock for $6 per share.
Journalize Colorado’s issuance of 4,500 shares of preferred stock for a total of $135,000.
Answers
Answer:
a.
Cash 27000 Dr
Common Stock 13500 Cr
Paid in capital in excess of par-Common stock 13500 Cr
b.
Cash 135000 Dr
Preferred Stock 135000 Cr
Explanation:
a.
When we issue stock at premium, we always record the amount received from such issuance of stock at full. So, the cash account will be debited for 4500 * 6 = 27000
However, we record the common stock issued at par value and the remaining is credited under the reserve account which is Paid in capital in excess of par.
Thus the common stock will be credited by its par value of 4500 * 3 = 13500 and the remaining 4500 * 3 will be credited to the Paid in Capital account.
b.
The par value of the preferred stock is 4500 * 30 = 135000
Thus the preferred stock is issued at par and we simply debit the cash received from the issue and credit the preferred stock.
assume that company a makes a $40-per-share offer for company b. company b now trades at $30 per share. also assume that the deal is expected to close in 90 days. if the deal closes, then the risk arbitrager's return would be:
Answers
To get a job in the skilled trades, you normally need a bachelor's degree or higher in the trades. Many construction supervisors, electricians, and welders make an average yearly salary of over $100,000.
There is no requirement for two years or less of advanced education for vocational skills. managers of factories. quality control professionals. technicians for general maintenance. engineering mechanics. One of the professions in the skilled crafts that is simple to learn is welding. With enough hands-on experience, you can learn how to weld in less than six months. Let's say you find a job you like that pays well and has reasonable hours. You may dig your teeth into welding and have opportunities for promotion. Agent for real estate. You may start selling real estate right now, and the possibilities is endless.
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how can the size of the industrial/service sector and the agriculture employment rate indicate the level of industrialization?
Answers
Answer:
as agriculture is in the primary sector an increase in the employment of that sector can indicate its in the primary sector .
Explanation:
industrialisation is the increase in the importance of the secondary sector of industry.
The US Senate overwhelmingly passed the 2022 Defense Authorization Act. The $768 billion "Defense Authorization Act" not only exceeds the defense spending proposed by the Biden administration by $25 billion, but also increases the US defense budget by about 5% compared to last year.
Answers
The US Senate passed the 2022 Defense Authorization Act, a $768 billion bill that surpasses the Biden administration's defense spending proposal by $25 billion and represents a 5% increase in the US defense budget compared to the previous year.
1. The US Senate passed the 2022 Defense Authorization Act.
2. The Defense Authorization Act is a bill that determines the budget and expenditures for the US defense sector.
3. The total amount allocated for the Defense Authorization Act is $768 billion.
4. The defense spending proposed by the Biden administration was exceeded by $25 billion in this Act.
5. The Act represents a 5% increase in the US defense budget when compared to the previous year.
6. This increase in the defense budget indicates a commitment to strengthening the country's defense capabilities.
7. The Act was passed overwhelmingly, indicating strong support from the Senate.
8. The Defense Authorization Act is an essential piece of legislation that ensures the funding and resources necessary for the US military to carry out its operations effectively.
9. The Act covers various aspects of defense spending, including military personnel, equipment, research and development, and strategic initiatives.
10. By passing the Defense Authorization Act, the US Senate has demonstrated its commitment to national security and defense preparedness.
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How are a startup's financing requirements estimated
Answers
A startup's financing requirements are estimated by considering various factors that influence the company's growth and development.
How are a startup's financing requirements estimatedSome of the key factors that are taken into account when estimating financing requirements are:
Business plan: The startup's business plan outlines its objectives, target market, products or services, and the resources needed to achieve its goals. A thorough review of the business plan helps in identifying the startup's financing requirements.
Projected cash flow: The startup's projected cash flow statement estimates the inflow and outflow of cash over a specified period. This statement helps in determining the amount of financing required to fund the startup's operations and growth.
Capital expenditures: Capital expenditures refer to the funds needed to acquire assets such as equipment, land, and buildings. Estimating the startup's capital expenditures helps in determining the amount of financing required for these purchases.
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Unbanked Partner #1
1. I've had terrible customer service at the banks I've been into, so I don't like them and I
don't trust them. I'm certainly not leaving my money with them,
Answers
Being unbanked has become an increasingly common situation for many individuals in recent years. An unbanked person is someone who has no financial account with any institution. Individuals may choose to be unbanked for a variety of reasons, including a lack of trust in banks due to poor customer service or a negative experience.
A person may have experienced a bad encounter with a bank employee and choose to leave the bank and seek other banking options. They may also be unable to maintain a minimum balance in their bank account, and banks may impose fees for accounts that fall below a certain amount. It can be inconvenient to have to travel to a bank to withdraw money, especially if the nearest bank is far away. Additionally, the time spent waiting in line at a bank can be tedious, and it can be difficult to fit into a busy schedule.
There are alternatives to traditional banks that may be more convenient and better suit the needs of unbanked individuals. Credit unions, for example, offer similar services as banks but are often smaller and more focused on serving the community. Mobile banking apps have also become increasingly popular, offering services such as depositing checks and transferring money.
The use of prepaid debit cards is another option that allows for the convenience of a card without the need for a traditional bank account. The unbanked may also benefit from budgeting tools and financial literacy resources, which can help them make informed financial decisions and take control of their finances. Overall, being unbanked does not mean that an individual cannot access financial services or manage their money effectively.
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Please choose one of following answers that are in quote
What is the opportunity cost in this scenario?
Harry has been very busy at work for the past two weeks. He has been working weekends too. Finally, he is going to get a weekend off. "Originally, he planned to paint his apartment that weekend." "He also considered going fishing for the weekend." "But then his parents called and asked him to come for dinner because it has been a while since they have seen each other."
"Later on, his friend Theo informed him about a surprise birthday party for another friend." Theo plans to reserve a room at a restaurant for the celebration, with the cost to reserve the room split between Theo, Harry, and three other friends.
Now Harry is confused about what he should do over the weekend. He decides that, for him, the most important commitments are going over to his parent's house and attending his friend's birthday party. In the end, Harry decides to see his parents.
Answers
Answer:
it would be better to go the his parents house so it would be cheaper, probably around $10
Explanation:
4.3. Identify THREE benefits that could inspire one to avoid being unemployed after graduating (3x2) (6)
Answers
Three benefits that could inspire one to avoid being unemployed after graduating is:
Do the Job you would desire after graduating during collegeApply for internshipsDevelop the qualities of a leader during college.What is Unemployment?Unemployment is a state of being idle without job. It is a situation where one does not work and does not earn.
Applying for internships during college can spur an individual to avoid being unemployed after graduating. Also, doing the work you desire to do after college can be a motivating factor and developing leadership skills can inspire one to avoid being unemployed after graduating.
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The three benefits that could inspire one to avoid being employed after graduation are:
The need to make income.The need for self sufficiency.The need for independence.What is unemployment?This is a state that exists in an economy due to the fact that the people that are well able to work and trained for jobs are unable to find work.
When people are employed some of the benefits that comes with it is that they can earn income, they have their independence and are well able to cater for their needs.
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Amy and Ethan are married and file a joint return for 2021. Their taxable income is $78,500. What is the amount of their tax liability (use the tax rate schedules)?\
Answers
Based on the information given the amount of their tax liability is $9,022.
Tax liabilitySince their taxable income is $78,500 in order to determine Amy and Ethan tax liability we would be using the tax rate schedules which is 12%)
Hence,
Tax liability=$1,990 + [($78,500 - $19,900) x 12%]
Tax liability=$1,990($58,600×12%)
Tax liability=$1,990+$7,032
Tax liability= $9,022
Inconclusion the amount of their tax liability is $9,022.
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TRUE/FALSE. countries with strong balance sheets and declining budget deficits tend to have lower interest rates.
Answers
Interest rates are often lower in nations with solid financial standing and decreasing budget deficits. It is False.
About Interest rates :Interest rates are often lower in nations with solid financial standing and decreasing budget deficits. The Fed is likely to raise short-term interest rates while the economy is slowing down. Business operations and the value of investment assets denominated in a foreign currency are both impacted by changes in that currency's value.
They collect savings deposits and disburse loans to those in need. They offer a range of services, including checking accounts and money market transactions, to enable the transfer of wealth between savers and those in need.
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what is the primary benefit people receive in exchange for paying premiums to an insurance company
Answers
Answer:
The insurance company will pay for covered expenses
With premium rates from insurance companies, the overall protection is much more guaranteed than a regular, and perhaps the insurance will cover more than regular insurance.
A benefit that people receive in exchange for paying premiums is that insurance company B.will pay for covered expenses.
What is insurance?The insurance can be regarded as a process of insuring one's property or life in case of danger or any future problems.
The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.
Therefore, option B is correct because, when people pay their premiums, the company will be available to covered expenses.
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