Federal Income tax is paid back later, it is a tribute that taxes the income of natural persons in the United States. It is applied by the Federal Government and it is returned if the tax they owe is less than the sum of the total amount of the withholding tax and the estimated taxes they pay.
Answer:
See explanation section
Explanation:
December 31 Interest receivable Debit $4,000
Interest revenue Credit $4,000
Calculation: $600,000 × 8% × (1 ÷ 12) = $48,000 × (1 ÷ 12) = $4,000. Therefore, the monthly interest revenue = $4,000.
<em>As Starr corporation provided a loan on December 1, they received interest revenue for 3 months. However, as the fiscal year closes on December 31, the interest revenue is owed for one month only. </em>
Answer: C. Reduce interest rates by increasing the money supply
Explanation:
If the Fed hopes to prevent unemployment and recession it needs to stimulate the economy to produce more goods and services as this will stave off recession while reducing unemployment as people will be needed to produce those goods and services.
The Fed can increase money supply which will lead to interest rates decreasing. When this happens more companies and individuals will be able to borrow funds as the cost of borrowing is low. These funds can then be invested in projects to increase production in the economy.
The opportunity cost that Gomer would have was the benefit
that he could attain from studying for an hour than spend his time playing
basketball within an hour. If he prioritize first his studying, then he would
gain benefit from it than spending his time playing the basketball.