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1 year ago

An amendment to the texas constitution requires a balanced budget. this means that _____. pols

1 answer:

4 0

An amendment to the Texas constitution requires a balanced budget. this means that any increase in government spending must be offset by an increase in revenue and/or cuts in spending elsewhere in the budget.

<h3>What is meant by an amendment to the constitution?</h3>

This is the term that is used to refer to the changes that are made to the constitution. This is used to refer to the particular changes and the bills or the resolutions that would be brought into the constitution that is existent in a particular place.

Hence we can say that An amendment to the Texas constitution requires a balanced budget. this means that any increase in government spending must be offset by an increase in revenue and/or cuts in spending elsewhere in the budget.

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Balance sheet and income statement data indicate the following: Bonds payable, 10% $1,000,000 Preferred 5% stock, $100 par (no c

dangina [55]

Answer:

The Time interest earned ratio is 4.5

Explanation:

Given:

Bonds payable 10% in 2 years $1000000

Preferred 5% stock $100 par (no change during the year) 300000

Common stock, $50 par (no change during the year) 2000000

Income before income tax for year 350000

Income tax for year 80000

Common dividends paid 50000

Preferred dividends paid 15000

Time interest earned ratio is a measure of how a company is able to pay up its debts based on its income. It is the ratio of earnings before tax and interest to total interest expense.

Interest expense = $1000000 × 10% = $100000 × 0.1 = $100000

Therefore the earnings before tax and interest = Income before income tax for year + Interest expense = $350000 + $100000 = $450000

the earnings before tax and interest = $450000

Time interest earned ratio = earnings before tax and interest / Interest expense = $450000 / $100000 = 4.5

The Time interest earned ratio = 4.5

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2 years ago

Describe at least one way in which a line of credit is different from a loan.

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3 years ago

Walmart is thinking about offering a 25% discount on a brand of shoes. If the elasticity of demand is two, then the discount wou

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Answer:

A.50%.

Explanation:

The price elasticity of demand formula is:

PED = Change in quantity demanded / change in price

plugging the amounts into the formula we obtain:

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