A customer has a total purchase of $84.75. She hands the person at the

Assume the state of Alabama placed a tax on playing cards of 6 cents per pack. If the state generated $48600 in revenue, how man

Rasek [7]

Answer:

the number of packs of cards sold is 810,000 units

Explanation:

The computation of the number of packs of cards sold is shown below:

Tax revenue = tax per good × goods

$48,600 = 0.06 × Q

Q =$48,600 ÷ 0.06

Q = 810,000

hence, the number of packs of cards sold is 810,000 units

We simply applied the above formula so that the correct value could come

And, the same is to be considered

3 0

3 years ago

A recent Small Business Administration study found that commercial banks provide between ________ percent of the credit availabl

scoray [572]

Answer:

64%

Explanation:

Commercial banks have been found to provide most of the credit needs of small businesses. So small business owners are more likely to get a loan from a commercial bank close to them.

Commercial banks however tend to be reluctant when the economy is stagnant. Mostly small businesses in an economy that is slow have challenges repaying loans collected.

However funds have been made available for small business and are made available primarily through commercial banks

7 0

3 years ago

At December 31, 2018, the financial statements of Hollingsworth Industries included the following: Net income for 2018 $ 590 mil

m_a_m_a [10]

Answer:

Basic EPS = $1.359 million

Diluted EPS = $1.195 million

Explanation:

For Basic EPS we need to calculate the number of shares outstanding

Shares as on Jan 1 = 450 million

Treasury shares on Sep 1 = 48 million × (4 months ÷ 12 months)

= 16 million

Number of shares o/s = Shares as on Jan 1 - Treasury shares on Sep 1

= 450 million - 16 million

= 434 million

Basic EPS = Net Income ÷ Number of shares o/s

= $590 million ÷ 434 million

= $1.359 million

For Diluted EPS,

Interest savings = 10% × $ 250 million

= $25 million

Adjusted Net Income = Net Income + After tax interest savings

= $590 million + [25 millions - 40(25million)]

= $590 million - $15 million

= $575 million

and weighted number of shares will include the bonds, that are convertible

Outstanding shares as computed = 434 million

Bond conversion Shares = 47 million

Total shares outstanding = Outstanding shares as computed + Bond conversion Shares

= 434 million + 47 million

= 481 million

Diluted EPS = Adjusted Net income ÷ Total shares outstanding

= $575 million ÷ 481 million

= $1.195 million

8 0

3 years ago

A machine purchased on 1/1/21 for $24,000 and on which $14,400 of Accumulated Depreciation has been recorded through 12/31/23 wa

Amanda [17]

Answer:

Gain on disposal = $7600

Explanation:

As the machine is sold on 1 April 2024, we first need to update the depreciation expense and charge the depreciation to the date. The depreciation has been charged till 1 December 2023. So, we need to charge the depreciation for three more months.

The formula for depreciation expense under straight line method is,

Depreciation expense per year = (Cost - Salvage value) / Estimated useful life

Depreciation expense per year = (24000 - 0) / 5

Depreciation expense per year = $4800 per year

Depreciation expense for three months = 4800 * 3/12 = $1200

Accumulated depreciation 1 April 2024 = 14400 + 1200 = $15600

To calculate the gain or loss on disposal, we first need to determine the net book value of asset and deduct it from the cash received on disposal.

NBV = Cost - Accumulated depreciation

NBV = 24000 - 15600

NBV = $8400

Gain on disposal = 16000 - 8400

Gain on disposal = $7600

6 0

3 years ago

A country reported nominal GDP of $200 billion in 2010 and $180 billion in 2009. It also reported a GDP deflator of 125 in 2010

QveST [7]

Answer:

19%

Explanation:

Given that,

Nominal GDP in 2010 = $200 billion

Nominal GDP in 2009 = $180 billion

GDP deflator in 2010 = 125

GDP deflator in 2009 = 105

Percentage change in prices:

= Percentage change in GDP deflator

= (Change in GDP deflator ÷ GDP deflator in 2009) × 100

= [(125 - 105) ÷ 105] × 100

= (20 ÷ 105) × 100

= 0.19 × 100

= 19%

Therefore, the prices increases by 19%.

6 0

3 years ago