Answer:
GDP : Gross domestic product
which is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.
Explanation:
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Kiana will report under the head of natural disaster and its compensation amount is also exempt.
- In income tax, there are a total of five heads of income viz
- income from salary
- Income from house property
- Income from profits and gain of business or profession
- Income from capital gains
- Income from other sources
- Each head of income describes different features of income that are taxable.
- Income tax is a tax levied on income or profits received by an individual or entity. Income tax is usually calculated as the product of tax rate and taxable income.
- Tax rates vary depending on the type and characteristics of the taxpayer and the type of income.
Thus, Kiana's loss results from a natural disaster that is exempt under section 10(10BC).
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Answer:
Quarterly deposit= $1,001.06
Explanation:
Giving the following information:
They anticipate they’ll need $150,000 in 18 years. The account pays 7.75% per year compounded quarterly.
To calculate the annual deposit, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
FV= 150,000
n= 18*4= 72
i= 0.075/4= 0.01875
A= (150,000*0.01875) / [(1.01875^72)-1]= $1,001.06
Answer: The fed can reduce they money supply by increasing the discount rate.
Explanation: If the Federal Reserve wants to shift to a more restrictive monetary policy and reduce the money supply they can increase the discount rate. The discount rate is the rate that the fed charges commercial banks to borrow money when they need to add to their reserves. If the fed charge a higher rate, then the commercial bank will in turn charge a higher rate. This higher rate will lead to less money being borrowed, which is reducing the money supply.
Answer:
See attached accounting entries.
Explanation:
For question 1, the likelihood of a payment occurring is probable, the is chance that Pacific Cruise Lines will pay liability as such estimated amount of $1.29 million should be set aside.
For question 2, the likelihood of a payment occurring is probable, the is chance that Pacific Cruise Lines will pay liability as such estimated maximum amount of $1.29 million should be set aside.
For question 3, the likelihood of a payment occurring is reasonably probable, the is chance that Pacific Cruise Lines will pay liability as such estimated amount of $1.29 million should be set aside.
For question 3, the likelihood of a payment occurring is remote, that is, there little relationship with this case that cause Pacific Cruise Lines being liable to pay as such potential amount of $1.29 million should be set aside.
