Answer:
Net Income = Gross Income - Taxes Owed
Explanation:
Net income is the amount one gets after all deductions are considered. Deductions include taxes, expenses, voluntary and involuntary contributions.
To a salaried person, net income is the gross pay minus taxes and all deductions. It is the take-home pay.
Answer:
The correct answer is post the information to the ledger.
Explanation:
In accounting, the general ledger is a document where all the transactions of corporations are recorded in chronological order. Each account must have a different book, which must be affected each time the accounts are involved in this process. These records make it possible to know the movements in a more detailed way, since unlike the journal in this case, only a single group of accounts is known and not the whole.
Answer:
$6900
Explanation:
The allocated maintenance cost to baking department is the fair share of baking department from the total maintenance cost incurred based on the floor space that the department occupied compared to other departments.
Allocated maintenance=total maintenance cost/total floor space*baking department's floor space
total maintenance cost is $13,800
baking department's floor space=3450 sq ft
total floor space=2,300+3450+1150=6900 sq.ft
allocated maintenance cost=$13,800/6900*3450=$6900
In an economy where the money supply and aggregate demand have been decreased by the central bank, you know that the central bank is using a contractionary monetary policy.
In an economy, changes in the money supply leads to changes in aggregate demand. An increase in the money supply increases aggregate demand and a decrease in the money supply decreases aggregate demand.
When a central bank takes action in order to decrease the money supply and increase the interest rate, it is following a contractionary monetary policy. Thus, the central bank requires Southern to hold 10% of deposits as reserves.
Hence, the decrease in the money supply reduces income and raises the interest rate.
To learn more about aggregate demand here:
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33,333 dollars because in order to invest a third you must pay a 3rd.
