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3 years ago

When were merchant banks first established as a service to the public?

1 answer:

4 0

Hello,

The answer is option D (or 4) "<span>The 19th century".

Reason:

In the 19th century merchants made there first banks which was put as a service to the public. Banks were made in order people could keep there money somewhere safe besides there homes. Its not option A because the middle age was mainly about power and knights therefore they keep there money in something called a treasure room. Its not option B because the 17th century was when are country was still developing therefore did not have any banks available to the public. Its also not option C because was when the Great War was which was 1819 so therefore the country was still developing.

If you need anymore help feel free to ask me!

Hope this helps!

~Nonportrit</span>

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Juan was considering purchasing an interest in a tax-exempt bond fund for $100,000 when he discovered that the interest must be

myrzilka [38]

Answer:

The double-exempt bond is the preferred investment because it has a higher after-tax return Tax benefit .

Explanation:

Calculatation of the after-tax return on both bonds

1)The double-exempt bond does not pay state or federal income taxes.

After-tax return =

Before-tax return = 4.9%

2)The tax-exempt bond is the state income taxes, but not federal in which the states can decide whether to tax their bonds or not.

Interest Income (100,000 * 5%) 5,000

Less: State taxes at 10% (5,000* 10%) (500)

Tax benefit from deduction of state taxes on federal return (500 * 35%) 175

After-tax Income 4,675

After-tax return = 4,675/100,000 = 4.675%

Therefore the double-exempt bond is the preferred investment because it has a higher after-tax return Tax benefit .

Hence the state income tax will be deductible on Juan’s federal tax return and Juan’s federal taxable income will be lower or lesser by $500 which will produces tax savings at his federal marginal tax rate of $500 * 35% = $175.

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3 years ago

Al's Car Shack believes its business has been hurt by a new administrative agency rule that creates excessive paperwork for the

sweet-ann [11.9K]

Answer:

immediately challenge the rule by filing a complaint with the administrative agency.

Explanation:

Since the new rule is affecting it's business by increasing cost andaking paperwork cumbersome, Al's Car Shack can file a complaint with the administrative agency stating it's case.

There is no dispute yet so there is no need to challenge the rule in court at this time.

If the administrative agency cannot settle with Al's Car Shack the case may go to court.

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3 years ago

Easywriter manufactures an erasable ballpoint pen, which sells for $1.75 per unit. management recently finished analyzing the re

maxonik [38]

a. 50 cents

Contribution margin per unit is price per unit- variable cost per unit

1.75 - ($50,000/40,000 units)

1.75 - 1.25 = $ .50

b. $8750

Margin of safety is the expected sales - break even sales

(45,000 units * $1.75 per unit) - (40,000 *1.75)

78,750 - 70,000 = $8750

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3 years ago

Entity B bought equipment for $240,000 on January 1, 2021. It estimated the useful life to be 3 years with no salvage value, and

mezya [45]

Answer:

Part 1

Revised depreciation expense = $32,000

Part 2

The entry to record depreciation expense :

Debit : Depreciation Expense $32,000

Credit : Accumulated Depreciation $32,000

Explanation:

Straight line method charges a fixed depreciation charge over the year of use of an asset.

<em>Depreciation expense = (Cost - Salvage Value) ÷ Estimated Useful Life</em>

2021

Depreciation expense = $80,000

2022

Old Depreciation expense = $80,000

New Depreciation expense = Depreciable Amount ÷ Remaining Useful Life

= ($240,000 - $80,000) ÷ 5

= $32,000

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3 years ago

The following is a condensed version of the comparative balance sheets for Pearl Corporation for the last two years at December

Maksim231197 [3]

Answer:

Balance Sheets

2020 2019 Deviation

$292,050 $128,700 $163,350 Cash

$163,350 Cash Flow Ind Method

$264,000 Net Income

$28,050 Depreciation

-$49,500 Dividends

$36,300 Investments

$8,250 Accounts Receivable

-$28,050 Current Liabilities

-$95,700 Property and Equipment

Explanation:

To prepare the statement of cashflow it's necessary to calculate the difference between the balance on each year.

First we need the value of the Net Income and Depreciation of the year as initial value of the cash flow ($264,000+$28,050),

then we deduct the amount of dividends paid during the year (-$49,500).

Then we begin to calculate the Assets section, everytime that the Assets are higher than the past year we have to put money

from the cash flow to compensate the assets increase and vice versa, with exception of the Cash Accounts that we are calculating.

Per Example: Accounts Receivable +$8,250 and Investments +$36,300.

Property decreased Cash flow which means that we buy some assets (-$97,500 )

Then with the Liabilities we do the same but in this case an increase in the liabilities means we have more money to our cash flow,

per example, an increase in the accounts payable means that we paid less to our suppliers so we have the money in the cash accounts.

Total Current Liabilities decrease $28,050 , we paid more liabilities than the past year, so we have to use cash.

To complete the cash flow statement it's necessary that the amount of the statement be equal to the deviation in the cash account between the past year and the current one

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3 years ago