Answer:
$27,300
Explanation:
Let husband's salary be x
Wife's salary is 15% more than husband's salary. This implies that wife's salary is 15% of x plus x.
Wife's salary = 0.15x + x
= 1.15x
Sum of their salaries = $58,695
Substituting the values in the equation:
58,695 = 1.15x + x
2.15x = 58,695
x = $27,300
Husband's annual salary is computed as $27,300
Sharon and two kids makes 3 people total with both kids being under 18, the poverty level from the table is $20,231
She gets $1000 a month for her kids. 1000 x 12 months = $12,000 per year
12,000 + her annual salary = 12,000 + 16,000 = $28,000 per year.
28,000 is greater than 20,231 so she is not living in poverty.
The answer is no
It shows a pattern of responsibility.
If you have only had accounts for 1 month, it doesn't really give a full picture of whether or not you always make your payments on time, etc. However if you have had accounts for 20 years, creditors have more history to look through to determine if you are responsible.
Keep in mind, checking and savings accounts are not the primary type of accounts that creditors want to look at because those only deal with spending money you already have. Lenders really want to know how you handle money that you <em>borrow</em>, such as school loans, credit cards, rent payments, and auto loans.
Answer:
The amount of Uncollectible Account Expense reported on the income statement will be: $ 64,800
Explanation:
Jumpin Corporation
Percent of Sales method
Net credit sales $ 2 100 000,
Un collectible estimated 3%
Un collectibles Accounts = 3% of $ 2 100,000, = $ 63,000
Unadjusted Allowance for Un collectible Accounts $ 1, 800 Dr.
Required Adjustment = $ 64,800
The amount of Un collectible Account Expense reported on the income statement will be: $ 64,800
In the percent of sales method emphasis is laid on the matching principle in the income statement and amount of bad debts expense is subtracted from the accounts receivables.
Answer: reduced by $80 billion
Explanation:
An expansionary gap is when the actual output is more than the potential output. From the question, we are told that an economy is operating with output $400 billion above its natural level, and fiscal policymakers want to close this expansionary gap and that the central bank agrees to adjust the money supply to hold the interest rate constant, so there is no crowding out.
We are also given the marginal propensity to consume is 4/5, and told that the price level is completely fixed in the short run.
To close the expansionary gap, the government would need to reduce its spending. To solve this, we have to calculate the multiplier. This will be:
Multiplier = 1/(1 - MPC)
= 1/(1 - 4/5)
= 1/1-0.8
= 1/0.2
= 5
Therefore, the government expenditure or spending will be reduced by:
= $400 billion/5
=$80 billion
