Answer: Above 5%
Explanation:
Unemployment has dropped to record lows which means that more people are able to afford goods and services. This increase in demand will shift the demand curve to the right thereby increasing prices.
Crude oil also rose in price which means that the price of gasoline has risen as well as the price of transport which is a major component of inflation.
Given these factors, inflation is sure to rise above the 5% level of the previous year.
Answer:
B.
Explanation:
The benefits of bank reconciliation is to detect errors such as double payments, missed payments, calculation errors etc.
Therefore they will be no need for adjustment to be recorded for bank errors, outstanding checks, and deposits in transit.
Answer:
The answer is: Gross profit = $2,788
Explanation:
- Feb. 1 Purchase 110 units $46 per unit
- March 14 Purchase 190 units $48 per unit
- May 1 Purchase 135 units $ 50 per unit
312 units were sold at $64 per unit, tax rate is 30%
Using FIFO, what is the company's gross profit? We first calculate COGS
Cost of goods sold - 312 units:
- 110 units at $46 per unit = $5,060
- 190 units at $48 per unit = $9,120
- 60 units at $50 per unit = $3,000
Total COGS = $17,180
<u>Income statement for Hogan Industries 2017</u>
Total revenue $19,968
<u>COGS ($17,180) </u>
Gross profit $2,788
<u>Taxes 30% ($836.40) </u>
Net profit $1,951.60
Answer:
The correct answer is letter "B": identity theft
.
Explanation:
Identity theft refers to the act of using other people's information to obtain usually a financial advantage. Full names, social security numbers, phone numbers or any other individual information is stolen from others to be used in favor of the criminal.
