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mihalych1998 [28]

3 years ago

7

In 1975, interest rates were 7.85 % and the rate of inflation was 12.3 % in the united states. what was the real interest rate

in 1975?

1 answer:

asambeis [7]3 years ago

3 0

-4.45%

Real interest rate is the nominal interest rate minus the rate of inflation:

7.85-12.3 = -4.45%

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B. Personal Selling

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Andy just purchased a 2.5 acre vacant lot of land for $500,000. What was the price per square yard?

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7 0

2 years ago

This year Nathan transferred $1 million to an irrevocable trust established for the benefit of his nephew. The trustee is direct

iren [92.7K]

Answer:

Zero- there is a $10 Million exemption equivalent ( d )

Explanation:

Annual exemption to be ignored = $15000

$1 million to an irrevocable trust

taxable gifts = $6 million

A) The amount of gift tax Nathan must remit in 2017 ignoring annual exemption

The gift tax must remit in 2017 is zero because there is a $10 million exemption because of the annual exception ( even if the annual exception is ignored ) and the lifetime benefits on taxable gifts that Nathan has is approximately $11.4 million, hence he wont be remitting any amount on gift tax in 2017

7 0

3 years ago

The bank statement contained two bank memoranda:1. A credit of $2,242.00 for the collection for Bogalusa Company of an electroni

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Answer:

Cash 2,157 debit

bank service expense 85 debit

account receivables 2,242 credit

Explanation:

To record the bank memorand:

The collection in behalf of the firm will increase cash

The new print the checks will be considered either miscellaneuos expense or bank service expense either way, will decrease cash.

Net cash variation: 2,242 - 85 = 2,157

For the Company errors another entry will be made looking for errors between our numebrs and the bank.

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3 years ago

For each of the below, indicate where each item should be presented in the statement of cash flows (using the indirect method) u

Nataly_w [17]

Answer:

<u> Blank 1 </u> <u> Blank 2</u>

i. Depreciation expense A I

ii. Purchase of office equipment B D

iii. Decrease in accounts receivable A I

iv. Payment of cash dividends C D

v. Conversion of bonds into common stock D N

vi. Sold land and warehouse used in the corp. B I

vii. Gain on sale of land and warehouse in part vi. A D

viii. Issued common stock for cash C I

ix. Decrease in accounts payable A D

x. Increase in inventory A D

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf for the complete question.

How each of the item will appear in the the statement of cash flows (using the indirect method) is also provided below:

XYZ Company

Statement of Cash Flows (Indirect Method Format)

For the year...

<u>Details $ $ </u>

Operating activities:

Net profit xxx

Adjustment to reconcile net income:

i. Depreciation expense xx

iii. Decrease in accounts receivable xx

vii. Gain on sale of land and warehouse in part vi. (xx)

ix. Decrease in accounts payable (xx)

x. Increase in inventory <u> (xx) </u>

Net cash flows from operating activities xxx

<u>Investing activities:</u>

ii. Purchase of office equipment (xx)

vi. Sold land and warehouse used in the corporation <u> xx </u>

Net cash flows from investing activities xxx

<u>Financing activities:</u>

iv. Payment of cash dividends (xx)

viii. Issued common stock for cash <u> xx </u>

Net cash flows from investing activities <u> xxx </u>

Net cash flow for the year xxx

Beginning cash balance <u> xxx </u>

Ending cash balance <u> xxx </u>

Note: The does not affect the cash flows statement:

v. Conversion of bonds into common stock

8 0

3 years ago