Answer:
Debit : Rent Expense $1,660
Credit : Prepaid Rent $1,660
Explanation:
The January 31 adjusting entry for rent expense would include a Debit to Rent Expense and Credit to Prepaid Rent - Asset Account at an amount of $1,660.
Calculation :
Rent Expense = 1/12 x $19,920 = $1,660
Answer:
$102 million and 6.25%
Explanation:
The computation is shown below:
a. For net income
As we know that
Net income = (Earning before interest and taxes - interest) × (1 - tax rate)
where,
EBIT is calculated after finding out the sales, operating cost which is given below:
Sales = $700 million × 1.20 = $840 million
And, the operating costs = 75% × $840 million = $630 million
So, the EBIT is
= $840 million - $630 million
= $210 million
Now the net income is
= ($210 million - $40 million) × (1 - 40%)
= $102 million
2. Now expected growth rate in net income is
= (Latest year Net income ÷ previous year net income) - 1
= ($102 million ÷ $96 million) -1
= 6.25%
Since dividend payout ratio is same so the growth rate in dividend should be equal to the growth rate in net income i.e 6.25%
Given:Population of the US: 3.164 x 10^8National Debt 1.674 x 10^13
What we are looking for: person’s share of the debt.
Solution:To solve this, just divide the national debt to the number of people of the us, (which is the population of the US)
1.674 x 10^13 divided by 3.164 x 10^8
Answer is: $52,907.71 is the share of each person.