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3 years ago

What is total taxable income

1 answer:

4 0

Taxable income, generally speaking, is the gross income of an individual or corporation, less any allowable tax deductions. Your taxable income is, in other words, the amount of your income that is subject to income tax.

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Nancy Groom owns one $1,000 corporate bond issued by General Motors. The bond pays 8.5 percent. If interest is paid semiannually

svlad2 [7]

Answer:

$42.50

Explanation:

The computation of the amount received at the end of each six month period is shown below:

= Issued amount × rate of interest × number of months ÷ total number of months in a year

= $1,000 × 8.5% × 6 months ÷ 12 months

= $42.50

By multiplying the issued amount with the rate of interest and the number of months we can get the amount of the check and the same is shown above

6 0

3 years ago

If the price of good X rises and the demand for good X is elastic, then the percentage __________ in quantity demanded is ______

Ira Lisetskai [31]

Answer:

e. fall; greater than; falls

Explanation:

Demand is price elastic if a small change in price has a greater effect on the quantity demanded. The coefficient of elasticity is usually greater than one which indicates that the percentage change in quantity demanded is greater than the percentage change in price.

Elasticity of demand = percentage change in quantity demanded/ percentage change in price

If demand is elastic, an increase in price leads to a fall in quantity demanded and total revenue falls.

I hope my answer helps you

8 0

4 years ago

Which two quantities does a budget balance?

FrozenT [24]

Income and spending..

6 0

3 years ago

Sheridan Incorporated factored $133,800 of accounts receivable with Skysong Factors Inc. on a without-recourse basis. Skysong as

Tresset [83]

Answer:

Sheridan Incorporated journal entry

Dr Cash 123,096

Dr Loss on sale receivables 2,676

Dr Due from factor 8,028

Cr Account receivable $133,800

Skysong Factors journal entry

Dr Account receivable 133,800

Cr Due to customer 8,028

Cr Interest revenue 2,676

Cr Cash 123,096

Explanation:

Preparation of the journal entry for Sheridan Incorporated and Skysong Factors to record the factoring of the accounts receivable to Skysong

Sheridan Incorporated journal entry

Dr Cash 123,096

(133,800-2,676-8,028)

Dr Loss on sale receivables 2,676

(2%*$133,800)

Dr Due from factor 8,028

(6%*$133,800)

Cr Account receivable $133,800

Skysong Factors journal entry

Dr Account receivable 133,800

Cr Due to customer 8,028

(6%*$133,800)

Cr Interest revenue 2,676

(2%*$133,800)

Cr Cash 123,096

(133,800-2,676-8,028)

7 0

3 years ago

In the small open economy in equilibrium: saving is fixed and investment is determined by the investment function and the world

Anton [14]

Answer:

saving is fixed and investment is determined by the investment function and the world interest rate.

Explanation:

In a country the expansion and the development depends upon the investment and saving habits of the country. Further the investment depends upon market conditions of expansion and the world interest rate. Everything is closely linked to each other.

As for instance a country with high production, and high revenue can invest more, and if the country do not its cash to be invested in country or in foreign it might ask for high savings, alternatively, if country demands high investment then the savings might be low.

Thus, statement A is correct.

4 0

3 years ago