Answer:
E
Explanation:
the current account of a country measures the value of the trade balance, transfers and the net income
the component of the current account includes
trade balance - it measures the value of the import and export of goods and services of a country.
net income - measures the value of the income received by a country's residents less the income paid to foreigners
transfers - it includes income sent home by a country's citizens working outside the country
Asset income - measures changes in the asset income
this transaction - China purchases $10 billion of United States government securities - would be included in the capital account
Answer:
Luke's net tax due or refund is $2,900
Explanation:
In order to calculate Luke's net tax due or refund we would have to make the following calculation:
Luke's net tax due or refund=Luke's non refundable credit+income taxes withheld from his salary
Luke's non refundable credit=non refundable personal tax credit-gross tax liability
Luke's non refundable credit=$2,400-$1,800
Luke's non refundable credit=$600
Therefore, Luke's net tax due or refund=$600+$2,300
Luke's net tax due or refund=$2,900
Luke's net tax due or refund is $2,900
The sales budget and the schedule of cash receipts.
Option B.
<u>Explanation:</u>
Account receivable is the account which consists of the amount that is to be received by a firm for the goods and the services that have been delivered to the customers but the amount and the payment has not yet been received by the firm for the same.
The amount of money that is still to be received can be derived from the accounts having the sales that is done by the firm to the clients.
Answer:
WIP assembly 56,000 debit
WIP Finishing 40,000 debit
Factory Overhead 96,000 credit
Explanation:
<u>Assembly</u>
DM 24000
DL 35000
FO 35,000 x 160% = 56,000
<u>Finishing</u>
26000
25000
FO 25,000 x 160% = 40,000