Answer:
Entry is given below
Explanation:
As Givens brick company is paying off the liability of note payable and the interest amount therefore, it will be debited as it is a decrease in liability. Cash will be credited as it is our asset and its decreasing.
Entry DEBIT CREDIT
Notes payable $600,000
Interest $36,000(w)
Cash $636,000
Working
Interest = $600,000 x 8% x9/12
Interest = $36,000
Answer: C. an implied contract.
Explanation:
An Implied Contract is one that arises as a result of the way one or both of the parties involved in the contract acts towards the other.
Unlike an Express Contract, it need not be written down but it does have the same legal weight and strength of a written contract.
The basic principle of this contract is that people should always be treated fairly in business transactions so the need to always pen it down is not necessary.
By walking in and leaving his clothes at the laundry, Bill got into an Implied Contract as it would be unfair for Tom to just clean his clothes with no payment.
A tax cut that will last for only a year will not have a huge effect on the aggregate demand as the aggregate demand increases only when the tax cut is permanent.
The given statement is false.
<h3>What is a tax?</h3>
A tax is a liability imposed on the taxpayer to pay a specified sum to the government based on the income they have earned in the previous year.
When the cutting of taxes becomes permanent in the country, then the citizens can start to acquire more which will increase the spending. The families will expect that the tax cuts are for the longer term which now induces them to buy and spend more and also act as an addition to their incomes. This whole impact would eventually lead to rising in aggregate demand.
Therefore, the demand increases when the tax cuts are permanent rather than when tax cuts are for only one year.
Learn more about the tax cut policies in the related link:
brainly.com/question/13924294
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Answer:
E) None of the choices are correct.
<em>18.289,26</em>
<em>As we given an option with two decimals which are different from the calculated amount we should take it as incorrect. </em>
<em></em>
Explanation:
The municipal bonds are tax free. Therfore, not included.
We will calcuatae based on 2019 income tax brackets for single-taxers
between $82,501 to $157,500 the amount is $14,089.50 + 24% of the amount over 78,950
100,000 - 82,501 = 17,499
17,499 x 24% = 4,199.76
14,089.50 + 4,199.76 =<em> 18.289,26</em>
