Answer:
It depends upon the Law prevailing in your country/state
Explanation:
Answer:
$42
Explanation:
APR = 18% , month rate = 18%/12 = 1.5%
Fee for cash advance = 2%
Cash advance of the first day of month = $1,200
Finance charge = Cash advance * (Monthly rate + Advance cash fee)
Finance charge = $1,200*1.5% + $1,200*2%
Finance charge = $18 + $24
Finance charge = $42
So, the approximate total finance charge i will pay on this cash advance for the month is $42
Answer:
Trial Income Statement:
Service revenue $17,000
Rent expense ($3,500)
Insurance expense ($350)
<u>Wages expense ($10,500)</u>
Net income $2,650
*We need to adjust other expenses like supplies or utilities. I assumed the salaries paid were for a 10 days period since no one pays salaries in advance.
Trial Balance Sheet
Assets:
Cash $62,200
Supplies $1,000
Prepaid insurance $3,850
<u>Equipment $10,000 </u>
Total Assets $77,050
Liabilities and Equity:
Accounts payable $8,000
Wages payable $7,000
Common Stock $60,000
<u>Retained earnings $2,050 </u>
Total Liabilities and Equity $77,050
Explanation:
July 1
Dr Cash 60,000
Cr Common stock 60,000 (6,000 stocks $10 par value)
July 3
<u>Rent expense 3,500</u>
Cr Cash 3,500
July 5
Dr Prepaid insurance 4,200
Cr Cash 4,200
Adjusting entry July 31
Dr Insurance expense 350
Cr Prepaid insurance 350
July 7
Dr Supplies 1,000
Cr Accounts payable 1,000
July 10
Dr Wages expense 3,500
Cr Cash 3,500
Adjusting entry July 31
Dr Wages expense 7,000 ($3,500 x 2 10 day periods)
Cr Wages payable 7,000
July 14
Dr Equipment 10,000
Cr Cash 2,500
Cr Accounts payable 7,500
July 15
Dr Cash 8,000
Cr Service revenue 8,000
July 19
Dr Accounts payable 500
Cr Cash 500
July 31
Dr Cash 9,000
Cr Service revenue 9,000
Dr Retained earnings 600
Cr Dividends payable 600
Dr Dividends payable 600
Cr Cash 600
If a $1,000 increase in income leads to an $800 increase in consumption expenditures, then marginal propensity to consume is 0.8.
Given that a $1,000 increase in income leads to an $800 increase in consumption expenditures.
We are required to find the marginal propensity to consume.
Marginal propensity to consume is the ratio of increase in consumption and the increase in income. It is also known as MPC.
MPC=ΔC/ΔI
ΔC=Change in consumption
ΔI= Change in income.
MPC=800/1000
=0.8
Hence if a $1,000 increase in income leads to an $800 increase in consumption expenditures, then marginal propensity to consume is 0.8.
Learn more about marginal propensity to consume at brainly.com/question/17930875
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Options:
He pulled the United States out of these negotiations.
He attempted to expand these agreements to include other nations.
He quickly signed the agreements after taking office.
He asked that the United States control more than 50 percent of the involved nations.
He agreed that even more multilateral trade agreements should be established.
Answer:He pulled the United States out of these negotiations.
Explanation:Trans Pacific Partnership is one of the strategic policies of Former president barrack Obama,it involves a dress trade agreements between the United States of America and the Asian countries but in 2017,President Trump withdrew from the trade agreements.
President Trump also pulled out if the Transatlantic Trade and Investment Partnership which was a trade agreement between the United States of America and Europe.
