Answer:
3. income statement
Explanation:
Bank of America’s income statement provides information such as its interest expense, or the interest the bank paid depositors, and its interest income, or the interest it earned by investing deposits over a period of time. This document also states the bank’s other revenues and expenses for the time period.
Answer:
B. Credited Gain on fluctuation of foreign currency for $1,170
Explanation:
The journal entry to record the collection of foreign receivables is provided
Account Titles and Explanation Debit Credit
Cash 40,170
(3,900,000 * 0.0103)
Foreign reserve 39,000
(3,900,000 * 0.01)
Gain of fluctuation of foreign currency 1,170
(3,900,000 * 0.0003)
Hence, the correct option is Credited Gain on fluctuation of foreign currency for $1,170
Answer:
(1) If you get a promotion, what is the probability that you will also get a raise?
25% or 0.25
(2) Are getting a raise and being promoted independent events? Explain using probabilities.
yes, they are independent events because you a given one probability for getting a raise (40%) and another one for getting both a raise and a promotion (25%). If they were dependent events, the probability would be the same but they are not.
(3) Are these two events mutually exclusive? Explain using probabilities.
No they are not, again the probability of getting both a raise and a promotion is 25%.
Answer:
Option (C) is correct.
Explanation:
EBIT = Sales revenues - Depreciation - Other operating costs
= $39,500 - $10,000 - $17,000
= $12,500
EBT/PBT = EBIT - Interest expense
= $12,500 - $4,000
= $8,500
PAT = EBT - Tax rate
= $8,500 - 35% of $8,500
= $8,500 - $2,975
= $5,525
CFAT = PAT + Depreciation
= $5,525 + $10,000
= $15,525
Therefore, the Year 1 cash flow is $15,525.
The government could decrease income tax so people have more disposable income to spend on goods and services and therefore increase AD. They could also increase government expenditure to increase AD.
(since AD=C+I+G+(X-M))
