The George Company has a policy of maintaining an end-of-month cash balance of at least $40,000. In months where a shortfall is
expected, the company can draw in $1,000 increments on a line of credit it has with a local bank, at an interest rate of 12% per annum. All borrowings are assumed for budgeting purposes to occur at the beginning of the month, while all loan repayments (in $1,000 increments of principal) are assumed to occur at the end of the month. Interest is paid at the end of each month. For April, an end-of-month cash balance (prior to any financing and interest expense) of $14,000 is budgeted; for May, an excess of cash collected over cash payments (prior to any interest payments and loan repayments) of $31,200 is anticipated. a. What is the interest payment estimated for April (there is no bank loan outstanding at the end of March)? (Do not round intermediate calculations.)
b. What is the total financing effect (cash interest plus loan transaction) for May? (Do not round intermediate calculations.)
Accountancy There are 6 points on a coordinate plane. The points are (negative 5, 0), (negative 4, 1), (negative 3, 4), (1, negative 2), (2, 4), (5, negative 3).
The current portion of income tax expense is the taxable for the year multiplied by the prevalen tax rate in the year.
Current portion of income tax expense=taxable income*tax rate
taxable income is $30 million
tax rate is 30%
current portion of income tax expense=$30 million*30%=$ 9 million
Option B is the correct answer
However,if one chooses option A,it implies that one had used pretax net income of $25 million in computing the income tax expenses instead of taxable income on which tax is payable
Life expectancy is about 75 years. One third: 75 : 3 = 25 So one generation is about 25 years. 2,000 : 25 = 80 Answer: Approximately 80 generations have passed during the last 2,000 years.
