Answer:
The correct option is c.6
Explanation:
For computing the velocity of money, the following formula should be used which is shown below:
The Velocity of money = Nominal income ÷ money supply
where,
Nominal income is $3,000
and, the money supply is $500
Now put these values to the above formula so that we can find out the answer
So, the answer would be equal to
= $3,000 ÷ $500
= 6
Thus, the velocity of money is 6
Hence, the correct option is c.6
Answer: $2,600
Explanation:
Because Andrew is married, the gift tax on him is split in half between him and his wife. This means that to each of his daughters, the gift tax will be on:
= 20,900 / 2
= $10,450
This amount is less than the gift exclusion limit of $15,000 so Andrew will not be charged taxes on the gifts to his daughters.
On the gift to Brianna's niece, Andrew's gift tax will be based on:
= 35,200 / 2
= $17,600
This is above the gift exclusion limit of $15,000 by:
= 17,600 - 15,000
= $2,600
<em>The above would therefore be Andrew's taxable gift amount. </em>
Answer:
$32,000
Explanation:
Calculation for the amount of accrued interest payable that should be reported
Using this formula
Accrued interest payable=Interest expenses- (Cash paid for interest -Accrued interest )
Let plug in the formula
Accrued interest payable=$85,000-($68,000-$15,000)
Accrued interest payable=$85,000-$53,000
Accrued interest payable=$32,000
Therefore the amount of accrued interest payable that should be reported will be $32,000
Answer:
c. a consumer debtor requesting the report without a credit application pending
Explanation:
This is because a third party with no obvious connection cannot Have right to the report reported is guided by the law
