Answer:
Journal entry is given below
Explanation:
To record the payment of interest and the discount amortization at the end of period 1 we should debit the Interest expense and credit cash and discount
DATA
Interest expense in year 1 = $38,936
Interest to be paid = $36,450
Discount amortization = $2,486
Entry DEBIT CREDIT
Bond interest expense $38,936
Cash $36,450
Discount on bonds $2,486
Answer:
The correct solution is "$397000".
Explanation:
Given:
Net income,
= $377000
Depreciation,
= $59000
Accounts receivable increase,
= $27000
Accounts payable decreased,
= $12000
Now,
From operating activities, the cash flow will be:
= 
By putting the values, we get
= 
= 
($)
Answer:
e) Nan will have more money than Neal at any age.
Explanation:
In compound interest, the interest earned in the year is added to the principal amount at the beginning of the next year. Earned interest becomes part of the principal which makes it earn interest. Adding interest to the principal to earn more interest is known as compounding.
The longer the investment period is, the more time interest will be compounded, and the more the investment will grow. Nan made her investment at age 25. By the time she retires, her investment period will be 35 years. Neil started her investment at age 30. At any given time after they are both age 30, Nan's investment will have earned compounded interest five more times than Neil. Therefore, Nan will have more money at any given time.
Answer: $32000
Explanation:
It should be noted that ministers or clergymen can exclude the home rental value or housing cost from the calculation of the gross income
Rev. Snider's self-employment income
Therefore, in this case, Rev. Snider's self-employment income will be:
Salary = $20,000
Add: Housing allowance = $12000
Total = $32000
Answer:
elasticity of demand is 2.16. Consumers pay a smaller portion of the tax
Explanation:
Elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Elasticity of demand = percentage change in quantity demanded / percentage change in price
(2/19)(2/41) = 2.16
When the coefficient of elasticity is greater than 1, demand is elastic.
Elastic demand means that a small change in price leads to a greater change in quantity demanded.
Because demand is elastic, more of the burden of the tax falls on producers and consumers pay a small portion of the tax.
I hope my answer helps you
