Answer:
$11,050
Explanation:
The additional spendable income will be calculated as follows:
As a corporation: $500,000 X (1-34%) X (1-35%) / 10 = $21,450 per investor
As a business: $500,000 X (1-35%) / 10 = $32,500 per investor
Additional spendable income for each investor = $32,500 - $21,450 = $11,050
Answer:
$120,000
Explanation:
Reason: The amount of retained earnings as on 31st December, 2014 in the consolidated balance sheet is $120,000 because, the parent company in the given case is puell co. As it has acquired 100% of the stock. Therefore, as on 31st December 2014 the parents company's retained earnings of $120,000 should appear in the consolidated balance sheet
Answer: Perfect Tender Rule
Explanation:
The Perfect Tender rule: This is a rule that refers to the legal right of a buyer to insist that the goods purchased are in conformity to the goods description, quality, quantity, and mode of delivery. if the goods purchased by a buyer fail to conform exactly to the description in the contract between the seller and the buyer, the buyer may reject the goods or only accept the confirming part.
Perfect Tender Rule may be seen as a law that protect the buyers and ensure customers satisfaction.
Answer and Explanation:
The journal entries are shown below:
1. Petty cash $140
To Cash $140
(Being the petty cash fund is established)
2. Postage expenses Dr $49
Merchandise inventory Dr $10
Delivery expenses $12
Miscellaneous expenses $38
To Petty cash A/c $109
(Being the expenses are recorded)
3. Petty cash $50 ($190 - $140)
To Cash $50
(Being the increase of the petty cash fund is recorded)
Only these entries are recorded
The real interest rate = 5%
Inflation rate = (CPI 2013 - CPI 2012) / CPI 2012
= (231 - 220) / 220
= 11 / 220
= 0.05 or 5%
Real interest rate = nominal interest rate - inflation rate
= 10% - 5%= 5%
Hence, the real interest rate is 5%
<h3>What is a loan?</h3>
A loan is a financial instrument that allows you to borrow money from a lender in order to finance a purchase or investment. The amount of the loan can be based on specific terms and conditions, and usually requires either an down payment or collateral.
Once you have submitted the application, your lender will contact you for additional information, including your credit history and other relevant details. After reviewing this information, the banker may authorize or decline your loan request according to their discretion. If approved, you will then need to provide documentation such as an applicant profile form (IFS), proof of income/employer verification letter(s), bank statement showing funds available in account etc., before closing the transaction.
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