<span>Disposable income is defined as any and all income that one has less the taxes and other mandatory payments one must make. In Julio's case, this would be the $30,000 he has earned less the $5,000 he pays in taxes yearly. The rent and utilities would not be considered, leaving a disposable income value of $25,000.</span>
Throughout the life of the product
This is an example of a <u>"pegged" </u>exchange rate.
A pegged, or fixed system, is one in which the conversion scale is set and misleadingly kept up by the administration. The rate will be pegged to some other nation's dollar, more often than not the U.S. dollar. The rate won't change from everyday.
A government needs to work to keep their pegged rate stable. Their national bank must hold huge stores of remote cash to moderate changes in free market activity. In the event that a sudden interest for a money were to drive up the swapping scale, the national bank would need to discharge enough of that cash into the market to take care of the demand. They can likewise purchase up cash if low interest is bringing down trade rates.
Answer:
When you reconcile your business bank account, you compare your internal financial records against the records provided to you by your bank. A monthly reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can also help you spot inefficiencies.
Answer: e. none of these answers are correct.
Explanation:
Going by the accrual basis in Accounting, expenses should be recorded only when incurred.
Rent expense for the year therefore will be the rent incurred for the year which is for the month of December alone in this question as the rent was paid on December 1.
The rent for December will be deducted from the Prepaid expense account.
Rent per month is;
= 16,212/6
= $2,702 per month
Correct entry will be;
Date Details Debit Credit
Dec. 31 Rent Expense $2,702
Prepaid Rent $2,702