Answer: $2,400; $2,400
Explanation:
If a deposit of $6,000 is made, the reserve requirement is 20% so the bank will have to reserve this amount of:
= 6,000 * 20%
= $1,200
The bank will be left with:
= 6,000 - 1,200
= $4,800
The bank lends all of this out.
The public holds 50% of the currency so they will keep:
= 50% * 4,800
= $2,400
The rest - which is $2,400 - will be deposited as checkable deposits.
Answer:
E. All the statements are correct
Explanation:
i. Corporations rarely pay tax on the interest income.
This statement is correct. Some companies do not even pay any income taxes.
ii. Higher tax bracket people tend to buy municipal bond because it is federal tax exempt.
Correct, people who have high incomes, and are subject to a high federal income tax rate often buy municipal bonds because these bonds are exempt from federal income tax.
iii. Short term capital gain and long-term capital gain are treated differently for individuals.
Correct. Short-term capital gains are those obtained from the sale of property that was owned for less than one year. This gains are often treated with the highest tax rate.
Long-term capital gains are those obtained from the sale of property that was owned for more than one year, and are treated with more favorable tax rates.
iv. The corporate tax rates in the U.S. is one of the lowest among the developed nations.
This statement is correct. The corporate tax rate in the U.S. is a nominal 21% (the effective rate can be as low as 0% for some companies). This is one of the lowest rates among developed nations, whose rates hover around 25 to 30% on average.
Answer:
D. income statement, statement of owner's equity, balance sheet is the correct answer.
Explanation:
Answer:
2019 = 2750
2020 = 5500
Explanation:
Given that:
Cost of truck = $36000
Salvage value = $3000
Useful life = 120, 000 miles
(Cost of asset - salvage value) / useful life
(36000 - 3000) / 120,000 = 0.275
2019 : 0.275 x 10,000 = 2750
2020 : 0.275 * 20000 = 5500
Answer:
D) Expected purchase price of each product.
Explanation:
According to my research a "Sales Budget" is a companies estimation of sales for any given financial period of the year. This being the case we can say that the item that is NOT needed would be the expected purchase price of each product. This is because they already have the overall expenses for that period, and in a sales budget they just need to calculate the selling price and units expected to sell in order to estimate the profit.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
