Answer:
The Economic Stabilization Fund is also known as the rainy day fund.
Explanation:
This is a fund that the state of Texas (and many other U.S. states) can access in times of economic distress, in order to fund state spending.
The reason for this is that Texas, by it's constitution, must run a balanced budget, meaning that it cannot take on debt in case of deficit. This is why, in times when revenues do not match expenditures, the rainy day fund can be used as an option of last resort.
Answer:
Net fixed assets on the balance sheet will decrease.
Explanation:
If we assume that Congress recently passed a provision that will enable Barton's Rare Books (BRB) to double its depreciation expense for the upcoming year but will have no effect on its sales revenue or tax rate.
The conclusion that best describes the impact of the new provision on BRB's financial statements versus the statements without the provision is that the <u>Net fixed assets on the balance sheet will decrease.</u>
<u>Normally in the Balance Sheet, the values of Net Assets are arrived at by subtracting the accumulated amounts of depreciation from the cost of the assets</u>
<u>Therefore if the values of depreciation are doubled, then the resultant amount of Net Assets will be smaller because a bigger deduction has been made against the cost of acquisition.</u>
Answer:
$7.50 per direct labor hour
Explanation:
Calculation for the predetermined overhead allocation rate
Using this formula
Predetermined overhead allocation rate = Factory overhead/Direct labor hours
Let plug in the formula
Predetermined overhead allocation rate = $1,500,000/200,000 hours
Predetermined overhead allocation rate = $7.50 per direct labor hour
Therefore the predetermined overhead allocation rate is $7.50 per direct labor hour
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Answer:
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Explanation:
