Answer:
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Answer:
$ 8500 paid by the university
Explanation:
The dormitory fees are recorded as part of his gross income because it is a payments given to his services rendered which was counseling freshman on campus living. The dormitory fees gotten can be taxed for this reason unlike the scholarships received for tuition, fees, books can be excluded from gross income as they are required for the student courses.
The journal entry to record the transaction is: Debit Cash $259,960; Debit Discount on bonds payable $8,040;Credit Bonds payable $268,000.
<h3>Sales of bonds</h3>
Splish Brothers Inc journal entry
March 1,2022
Debit Cash $259,960
($268,000 × 97%)
Debit Discount on bonds payable $8,040
($268,000 × 3%)
Credit Bonds payable $268,000
(To record sales of bonds)
Inconclusion the entry is: Debit Cash $259,960; Debit Discount on bonds payable $8,040;Credit Bonds payable $268,000.
Learn more about sales of bonds here:brainly.com/question/13958571
<span>"Public Health Service Policy on Humane Care and Use of Laboratory Animals" by the US Deparment of Health and Human Services; and "Guide for the Care and Use of Laboratory Animals" by the National Research Council of the National Academies.</span>
Answer:
Tax multiplier= 2,9
Explanation:
Tax multiplier represents the multiple by which gross domestic product (GDP) increases (decreases) in response to a decrease (increase) in taxes.
In the simple version of tax multiplier, it is assumed that any increase or decrease in tax affects consumption only (and has no effect on investment, government expenditures, etc.)
The formula is:
TMs=MPC/MPS=MPC/(1-MPC)
TMs= is the simple tax multiplier;
MPS= marginal propensity to save (MPS); and
MPC= marginal propensity to consume.
In this exercise, we do not possess the required information to use the general formula.
We need to use an alternative formula:
Decrease in taxes= change in GDP/tax multiplier
tax multiplier= change in GDP/Decrease in taxes
tax multiplier= 130,5billion/45billion=2,9
