To correct avoid high unemployment, one of the measures done by the architects of Bretton woods is to agree on building a limited flexibility into the fixed exchange rate system. In addition, it was stated in the argument that the rules and regulations of the monetary management between the U.S., Canada, Western Europe, Australia, and Japan must be systematically established.
Answer:
d.The post-closing trial balance is the only one to include only real accounts.
Explanation:
Post closing trial balance is prepared after providing for all the adjustments pending in the first raw trial balance.
Thus, it only represents the real accounts, as only real accounts have the balance to be carried forward, all the expenses and incomes are not real accounts and are thus, closed, and no carrying balance.
Whereas, all other trial balances will have the other accounts outstanding as well.
Thus, only statement D is correct in disclosing the difference between various trial balances.
Answer:
Recognized gain = $60000
Explanation:
Below is the calculation:
Price of personal resident = $400000
Selling price = $460000
Since Alan purchased the house for $400000 and selling it for $460000. Therefore recognized gain can be determined by subtracting the purchase price from the selling price.
Recognized gain = $460000 - $400000
Recognized gain = $60000
Answer:
0.2273
Explanation:
The computation of the tax rate expected to be in year 1 is shown below:-
Depreciation = Operating cash flow - Net income - Interest
= $73,000 - $17,000 - $23,580
= $32,420
Earning before interest and tax = Revenue - Cost - Depreciation
= $157,000 - $79,000 - $32,420 -
= $45,580
Earning before tax = Earning before interest and tax - Interest
= $45,580 - $23,580
= $22,000
Tax rate = Earning before tax - Net income
= $22,000 - $17,000
= $5,000
Tax rate = Tax ÷ EBT
= $5,000 ÷ $22,000
= 0.2273
Answer:
Two examples of important things that financial planning skills can help us do are:
- Acquire a strong savings habit
- Set realistic goals
Explanation:
Acquire a strong savings habit: This is achievable when a person has a clear understanding of how much are their expenses and how much is needed to be save in order to acquire capital goods or to construct a fund for unexpected costs.
Set realistic goals: When a person knows how much its income is and has a realistic financial planning he knows what goals are achievable and which are not.
