Answer:
the amount deductible for state income tax is $2,900
Explanation:
The computation of the amount deductible for state income tax is as follows;
= State income tax withheld + April 15 + June 15 + Sep 15
= $2,000 + $300 + $300 + $300
= $2,900
hence, the amount deductible for state income tax is $2,900 and the same is computed by applying the above formula so that the correct value could come
The money you get when you get paid
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Answer:
Probability that the person selected will be one who invests in municipal bonds but not in oil stocks is
Explanation:
Given : Total no of people in the group = 2500
Investors of municipal bonds = 35% i.e .35 × 2500 = 875
Investors of both municipal bonds and oil stocks
= 7% i.e .07 × 2500
= 175
Hence, the investors who have invested in municipal bonds but not oil stocks = 875 - 175 = 700 investors
Probability that the person being selected will be one who invests in municipal bonds but not in oil stocks =
=
=
Answer:
July 1
Trade Receivable - Waegelein Inc $15,300 (debit)
Revenue $15,300 (credit)
July 8
Revenue $3,500 (debit)
Trade Receivable - Waegelein Inc $3,500 (credit)
July 1 1
J1
Discount Allowed $236 (debit)
Trade Receivable - Waegelein Inc $236 (credit)
J2
Cash $11,564 (debit)
Trade Receivable - Waegelein Inc $11,564 (credit)
Explanation:
July 1
Recognise Revenue and Asset -Trade Receivable
July 8
De-recognise Revenue and de-recognise asset -Trade Receivable
July 1
Payment is within the range of discount period of 10 days
J1
Recognise Discount Allowed Expense and De-recognise the Asset -Trade Receivable
J2
Recognise the Cash on receipt of payment less discount allowed and de-recognise Asset -Trade Receivable