I think it is (The Cash<span> Payments </span><span>Journal)
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Answer:
Effective interest on June 30 on a 6% $60 million bond at 7% effective rate is $1,950,778
The interest is treated in the books of account thus:
Debit interest expense $1,950,778
Credit Bond account $1,950,778
Explanation:
The effective interest is computed using the below formula
Amount x Effective Rate (%) = Interest Expense
Amount=$55,736,520
Effective rate =7%/2 =3.5% semi-annually
Interest expense=$55,736,520*3.5%
Interest expense=$1,950,778
GMC. Except GMC now also says "We are professional grade" as well
Answer:
solution below
Explanation:
(gain - loss)x35%
for megan
(5500 - 2242) * 35%
= $1140.3 is owed
a.) for megan
(5500-2100)*35%
= $1190
b. for margaret
(4000-2000) x 35%
=$700
c. For melissa,
It doesnt matter if she took this withdrawal at 65 years of age.
d. for morgan
110 - 100 = 10 this is the gain per share
total gain = 10 x 100 = 1000
income tax = 1000 x 0.35 = 350 dollars
e. for murphy,
his income tax would fall by
4000 x35% = 1400.
After this, selling the stock would have no effect on current taxes.
Answer:
Explanation:
a )
Standard of living is calculated as follows
Standard of living = Real GDP / Population
Growth in standard of living = growth in real GDP - growth in population
Now given growth in standard of living = 0
0 = growth in real GDP - growth in population
growth in real GDP = growth in population
growth in real GDP = 1%
Therefore, to keep living standards from falling, production have to increase by 1 %.
b )
If workforce increases by 1 % , that means population increases by 1 % and
productivity ( MPP ) increases by 1 % that means GDP increases by 1 %
Hence
Growth in standard of living = 1 % - 1 % = 0
The living standard will remain stagnant .
