Answer:
Please refer to the below for the appropriate journal entry
Explanation:
Accounts receivable Dr $726,700
($676,000 + $50,700)
Sales revenue account Cr $676,000
Sale taxes payable account Cr $50,700
{(6% + 1.5%) × $676,000
Answer:
D. when the government decreases the interest rate
Explanation:
Fiscal policy can be defined as the use of taxes, government spending and transfers to stabilize an economy. Expansionary fiscal policy of the government is when the government of a country decreases its taxes and increases its expenditure. the word "fiscal" refers to tax revenue and government spending.
when the government reduces its interest rates, consumers pay less interest, they have more money to spend and there will be drastic effect to that because there will be more spending in the economy. businesses also benefits from this decreased interest as they will be motivated to buy equipment and obtain loan to boost their businesses and pay less interest.
Answer:
If the effective tax rate increases then the net savings coming from investments will get lowered as a result the investment will have higher payback period (The increase in effective tax rate would lower demand of the product which means there is decline in net saving arising from the sale of the product). Likewise this decrease in annual net savings will also decrease the internal rate of return which shows that their are increased chances of project rejections. The NPV method is based on cash flows and relevant costing just like IRR and payback method but the only difference is that it assumes that the cash earned would be reinvested at cost of capital. The NPV will also decrease due to increased effective tax rate.
Explanation:
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