The U.S. taxing power, while very broad, has important limitations. First, direct taxes must be apportioned, a very difficult requirement. Second, duties, imposts, and excises must be uniform—an easy-to-meet standard, but one which, if ignored, can be fatal to a statute.
P.S. I hope this helps
Answer:
0.4868%
$615.47
Explanation:
Given that
a. EAR = 6%
Thus,
Equivalent monthly rate = (1 + r)^n - 1
Where r = EAR
Therefore
= (1 + 0.06)^1/12 - 1
= 1.0048675 - 1
= 0.0048675 × 100
= 0.4868%
b. Given that
Monthly rate = 0.4868%
Future value = 100,000
Time = 10 years
Recall that
FV annuity formula = C × (1/r) × ([1 + r ]^n - 1)
Where
C = payment
Therefore
100000 = C (1/0.004868) × ([1 + 0.004868]^120 - 1)
C = 100,000/(1/0.004868) × ([1 + 0.004868]^120 - 1)
C = $615.47 per month
Answer: See explanation
Explanation:
a. Determine the net income for July using the cash basis of accounting.
Revenue = $3800 + $1100 + $5100 = $10000
Less: Expense = $1200
Net Income = $10000 - $1200 = $8800
b. Determine the net income for July using the accrual basis of accounting.
Revenue = $8600 + $3800 = $12400
Less: Expense = $1300
Net income = $12400 - $1300 = $11100
Basically, the Sarbanes Oxley Act was not a single Act, but a series of Acts that were designed to expand starting requirements for companies such as firms and overall businesses. Section 404 is one of the Acts that are specifically set on the company's control on their financial reports made. As a result, internal management or more commonly known as the Internal Affairs program of a company must provide a detailed and clear-written (straight-to-the-point) report on the company's structure (how they do things) and creating, or establishing, a set of procedures on how they plan to report their financial status.
