Answer:
Denver Company
Income Tax Expense for the second quarter:
Pre-tax quarter income = $140,000
Estimated tax rate = 24%
Tax Expense = $140,000 x 24%
= $33,600
Explanation:
a) Data:
Quarter income before tax estimated tax rate
first $100k 30%
second $140k 24%
b) Denver's quarter second income tax expense is the product of the pretax income for the second quarter and the estimated income tax rate for the quarter. The resulting calculation shows the estimated income tax expense that has to be settled by Denver. If it is not settled in the quarter second period, it has to be carried forward to the next quarter as a liability under the heading, Income Tax Payable.
Answer:
b) Debit Accounts Payable $8,250; credit Merchandise Inventory $82.50; credit Cash $8,167.50
Explanation:
Preparation of correct journal entry to record the payment on August 16
Based on the information given we were told that the company made a purchased of the amount of $9,750 of merchandise with terms of 1/10 and as well made returned of the amount of $1,500 worth of the merchandise while the full amount due was paid on August 16 which means that the journal entry to record the payment on August 16 will be :
Debit Accounts Payable $8,250
($9,500-$1,500)
Credit Merchandise Inventory $82.50
(1%×$8,250)
Credit Cash $8,167.50
[(100%-1%)×$8,250)]
A Service Enterprise is an organization that strategically leverages volunteers to achieve operational efficiency and greater social impact. Service Enterprises are among the top 11 percent of nonprofits in the country in volunteer management and organizational performance.
The money multiplier is 5. And the total money supply increase by $2,000 million if the Federal Reserve increases reserves by $400 million.
Given,
The Federal Reserve sets the reserve requirement at 20%.
Banks hold no excess reserves, and no additional currency is held.
- The money multiplier displays the amplitude of the change in the money supply as a result of the addition of new reserves to the banking system.
- Banks use the money they are not obligated to retain in reserve to make loans, and the borrowed money shows up on other customers' deposit accounts.
- In macroeconomics, the money multiplier is significant because it controls the money supply, which influences interest rates.
- Because it affects monetary policy and the stability of the banking industry, it is also significant in the banking industry.
The money multiplier formula can be used to calculate the total amount of new deposits or money created.
Money multiplier = 1/reserve ratio
= 1/0.20
= 5
change in Total money supply = Money multiplier × change in reserves
= 5 × $400 million
= $2,000 million
Hence, The money multiplier is 5. And the total money supply increase by $2,000 million if the Federal Reserve increases reserves by $400 million.
Learn more about Federal Reserve Bank:
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Answer:
joint
Explanation:
Based on the information provided within the question it can be said that such business products are characterized as having joint demand. This type of demand refers to when two or more goods or services are usually bought or demanded together by customers, since they complement each other. Such as cars and petrol, or in this case cars and tires.
