The use of government taxes and spending to alter macroeconomic outcomes is known as?

Hargrave professional group performs legal services on account. what is the effect of this transaction on the balance sheet equa

r-ruslan [8.4K]

Hargrave professional group performs legal services on account. The effect of this transaction on the balance sheet equation for Hargrave is Increase in assets.

<h3>What is Asset?</h3>

An asset is considered a resource of the business which has an economic value in the future of the business and helps business activities to take place smoothly.

Hargrave professional group performs legal services on account which reflects the Buying and sales of goods and services on credit. So this refers to the incoming cash in the business which indicates the effect of this transaction on the balance sheet equation for Hargrave is an Increase in assets.

Learn more about Asset, here:

brainly.com/question/14404094

#SPJ4

8 0

2 years ago

Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year, the company reports th

RUDIKE [14]

Answer:

The income statement, statement of stockholders' equity, and balance sheet for Longhorn Corporation is given below.

The income statement

Sales Revenue $ 67,700

COGS ($ 53,400)

Delivery expenses ($ 2,600)

Salary expenses ($ 5,500)

Net profit $ 6,200

Balance Sheet

Asset

Cash $ 1,200

Equipment $ 29,000

Building $ 40,000

Supplies $ 3,400

Total Assets $ 73,600

Equity

Common Stock $ 44,000

Retain earning $ 24,400

(18,200 + 6,200)

Liability

Account Payable $ 4,400

Salaries payable $ 8,00

Total Liabilities $ 73,600

Statement of Stockholders

Opening common Stock $ 40,000

Addition $ 4,000

Closing common Stock $ 44,000

Retain earning Opening $ 18,200

Net profit $ 6,200

Retain profit Closing $ 24,400

Total Equity $ 68,400

4 0

3 years ago

g If the price level rises and the money wage rate stays the same, what effect will this have upon labor demanded and production

kaheart [24]

Answer:

The quantity of labour demanded increases ad production increases

Explanation:

When price level rises and the money wage rate stays the same, the real money wage rate falls. This makes it cheaper for firms to hire labour. As a result, their demand for labour increases and this leads to an increase in production.

5 0

3 years ago

A service provided by -e-government that requires access to the Internet is _____.

Serjik [45]

Answer:

B. E-tax returns

Explanation:

E-tax returns is the electronic filing of tax returns via the internet. It entails online submission of pre-approved tax return forms available on the tax authority's website.

In recent years, governments have put measures to facilitate e-returns. It has simplified the process making it popular among taxpayers. Electronic tax filing has have contributed to having a high number of citizens registering as taxpayers.

8 0

3 years ago

Suppose that five years ago you borrowed $300,000 using a 30-year fixed-rate mortgage with an annual interest rate of 10% with m

Elenna [48]

Answer:

Please check the explanation below.

Explanation:

Rate of Interest =10% or 0.83% monthly

Monthly Payment under this plan=PMT(0.0083, 360, 300000) =$2,632.71

Loan outstanding after 5 years of payments =$289,723

New Interest Rate =8.5% or 0.7083% monthly

Balance Tenure= 25 years

New Monthly Installment =PMT(0.007083,300,289723) =$2,332.93

Monthly savings in installment reduction =$2,632.71 - 2,332.93 =$299.78

a. Net present value of refinancing = -0.05x289,723 + 299.78x{(1-(1+0.007083)-300)/0.007083}

= -14,486.15 + 299.78x124.1886

= -14,486.15 + 37,229.25

= 22,743.10

b. With new monthly installment, balance outstanding at the end of 8th year =$278,258

Net Present Value of Refinance = -0.05x289,723 + 299.78x{(1-(1+0.007083)-36)/0.007083}

= -14,486.15 + 299.78x31.68

= -14,486.15 + 9,446.46

= -4,989.68

c. For refinance loan to have net present value positive, let n payments are required,

NPV = -0.05x289,723 + 299.78x{(1-(1+0.007083)-n)/0.007083}

14,486.15 = 299.78x{(1-(1+0.007083)-n)/0.007083}

14,486.15x0.00783/299.78 =(1-(1.007083)-n)

0.3423 = 1-(1.007083)-n

(1.007083)-n = 0.6577

(1.007083)n = 1.5204

Taking Log both sides,

n = log(1.5204)/log(1.007083)

n = 59.36

Hence, he would need to make 60 payments for making NPV of refinance as zero.

3 0

3 years ago