Answer:
I envision myself 10 years from now in a beautiful 2 story house. A nice luxury sports car, and I envision myself being a Real Estate agent.
I would like to be Independent, and learn what is it like to live on my own. And learn new things. I will need to pay for things like: Electricity, Gas, Water, and food. I'll need a stable job, and a reliable car.
It would cost around 1,200$ each month.
It would be 14,400, without taxes.
It's about 15,000 dollars compared to my 14,400 for necessities. So if I work Minimum wage I could afford to live. I would make 600$ less though.
I will be within my Budget, I will be able to afford everything that I need.
I could learn from others who have been successful in their life. And I could work my way up into a company, or make my own based off of the knowledge that I gained from learning from others.
If I stick to a budget, I will have money left over. And it will teach me to be more responsible with my money and it will also teach me to save.
Whenever I could.
Explanation: You can change it, if you want.
Answer:
Explanation:
The journal entries are shown below:
Taxes expense A/c Dr $12,320
To Prepaid Taxes $12,320
(Being prepaid taxes are adjusted)
Taxes expense A/c Dr $45,000
To Property taxes payable $45,000
(Being property taxes are adjusted)
The prepaid taxes are computed below:
= Prepaid taxes × (number of months ÷ total number of months in a year)
= $18,480 × (8 months ÷ 12 months)
= $12,320
The eight months is calculated from May 1 to December 31
Answer:
Mr. Able have to open a Private Foundation to set up a Tax-deductible fund.
Explanation:
- They will exclude donations up to 30 per cent to 60 per cent of our income, based on the charity's existence and tax-exempt status.
- You will state your expenses to assert a charitable deduction on your tax return.
- Private foundation contributions are tax deductible up to 30 percent of the adjusted gross benefit for assets and up to 20 percent of the income for assessed shares, with a five-year hold forward.
therefore Mr Able must donate his funds
Answer:
The MPC is 0.8
The multiplier or k is 5
The increase in income would be $20 million.
Explanation:
The marginal propensity to consume (MPC) is the proportion of increased disposable income that consumers spend. It is a metric to quantify the induced consumption and how an increase in consumer spending occurs as a result of increase in income.
MPC is calculated as follows,
MPC = Change in consumer spending / change in income
MPC = 240 / 300
MPC = 0.8 or 80%
To calculate the multiplier, we simply use the following formula,
Multiplier or k = 1 / (1 - MPC)
k = 1 / (1 - 0.8)
k = 5
So, the expenditure multiplier for the economy would be 5.
To calculate the increase in income, we will multiply the investment amount by the expenditure multiplier.
Income increase = 4000000 * 5
Income increase = $20000000 or 20 million
Answer:A. If a Manager is held responsible for generating revenue, controlling cost and efficiently investing assets, then this division his considered a profit center and an investment center.
Explanation:
Profit is the difference between revenue and the various cost associated with a firm. Each of the element of cost and revenue can be act upon independently but the outcome each of them will have a dependent effect on the profit, invariably the control of the elements of revenue and cost makes it a profit center.
The Independence in the efficient investment of asset which makes the department to determine when, how and where to invest the asset qualified it an investment center.
