Answer:
b. $18,000
Explanation:
The computation of outstanding checks is shown below:-
Outstanding checks as of the end of July = Start with outstanding checks as of June + Amount of checks issued in July - Amount of checks that cleared in July
= $5,400 + $38,900 - $26,300
= $44,300 - $26,300
= $18,000
Note, The $300 check was issued by a customer, not Darlene.
So, for computing the outstanding checks as of the end of July we simply applied the above formula.
Answer: $109,080; $145,920
Explanation:
Based on the information that have been provided in the question, the following can be gotten:
The amount for income tax expenses will be:
= 36% of $303,000
= 36/100 × $303,000
= 0.36 × $303,000
= $109,080
The net income will be:
Reported income = $303,000
Less income tax = $109,080
Less loss on discounted operation = $48,000
Net income = $145,920
Loss on discounted operation:
= $75,000 × (1 - 36%)
= $75,000 × (1 - 0.36)
= $75,000 × 0.64
= $48,000
Answer:
the short term, unemployment rates would drop drastically.
