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scoundrel [369]
3 years ago
7

Automation Services Co. offers its services to companies desiring to use technology to improve their operations. After the accou

nts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Automation Services: Fees Earned $614,500 Dividends 45,000 Rent Expense 140,000 Retained Earnings 3,250,000 Supplies Expense 18,200 Wages Expense 320,000 Miscellaneous Expense 8,700 Journalize the closing entries. If an amount box does not require an entry, leave it blank. Dec. 31 Dec. 31

Business
1 answer:
Aneli [31]3 years ago
4 0

Answer:

Please find solution attached below

Explanation:

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The nominal rate of interest is comprised of: both the real rate of interest and compensation for inflation. compensation for in
Alexandra [31]

Answer:

The correct answer is both the compensation for inflation as well as the real rate of interest.

Explanation:

Nominal rate of interest is the one which is described as the rate of interest before taking or considering the inflation into the account. The nominal could also defined as to advertised or state the rate of interest on the loan, without considering the account of any fees or any interest which is compounding.

So, the nominal rate of interest is the one which involve or comprise of the compensation for inflation and the real interest rate of the interest.

8 0
3 years ago
An investor purchases one municipal bond and one corporate bond that pay rates of return of 7% and 8.4%, respectively. If the in
balandron [24]

Answer:

  • After-Tax return on Municipal Bond = 7%
  • After-Tax Return on Corporate Bond = 6.72%

Explanation:

The main advantage that Municipal Bonds usually carry with them is that they are tax-exempt. As no taxes are paid on them, there is no need to calculate an after-tax return because it is the same as a pre-tax return.

After-Tax return on Municipal Bond = 7%

The Corporate Bond is subject to tax based on the holder's tax bracket.

After-Tax Return on Corporate Bond = 8.4 % * ( 1 - 20%)

After-Tax Return on Corporate Bond = 6.72%

<em>Considering taxes, the Municipal Bond is better. </em>

6 0
3 years ago
Draw a Laffer curve. Label it. Draw a point on the curve at the tax rate that generates the maximum tax revenue. Label it ​T*. D
serious [3.7K]

Answer: Theoretically A

Explanation:

One implication of the Laffer curve is that reducing or increasing tax rates beyond a certain point is counter-productive for raising further tax revenue.

. In the United States, conservatives have used the Laffer Curve to argue that lower taxes may increase tax revenue. However, the hypothetical maximum revenue point of the Laffer curve for any given economy cannot be observed directly and can only be estimated – such estimates are often controversial.

4 0
3 years ago
A chess club with 40 members is electing a new president. eric received 22 votes. what percentage of the club members voted for
LUCKY_DIMON [66]
The answer would be 55%.50% of 40 is 20. 5% of 40 is 2.
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Price serves the function of ____ for goods, services, and financial resources. distributor determining factor screener quantifi
kakasveta [241]
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6 0
3 years ago
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