You receive a tax refund from the IRS if your tax liability is less than the tax you paid for a fiscal year. This means that the tax you owe is less than what you paid for your taxes. Another circumstance is when you are entitled to tax credits
I believe the correct answer among the choices is:
b) They do not capture most nonmarket economic activity
<span>The National Income and Product Accounts or NIPA is one
of the main sources of the data on general economic activity in the United States.
The greatest drawback to this is that it is only a prediction, it does not
really reflect all the acitivities.</span>
Answer:
Total FV= $21,043.97
Explanation:
Giving the following information:
Interest rate= 7% compounded annually
<u>To calculate the total accumulated future value, we need to use the following formula on each deposit:</u>
FV= PV*(1+i)^n
Deposit 1= 3,500*1.07^5= 4,908.93
Deposit 2= 5,300*1.07^4= 6,947.22
Deposit 3= 7,500*1.07^3= 9,187.82
Total FV= $21,043.97
You can arrest someone with a bench warrant.
Answer:
b. A debit to Merchandise Inventory of $21,800, a credit to Accounts Payable of $21,800
Explanation:
Parker Company uses the perpetual inventory system. It bought merchandise on account from Beige Inc, invoice no. 342, $20,000; terms 1/15, n/30; dated June 25; FOB San Francisco, freight prepaid and added to the invoice, $1,800 (total $21,800).
The following journal entries records this purchase transaction: A debit to Merchandise Inventory of $21,800, a credit to Accounts Payable of $21,800
<u>The reason is that with a perpetual inventory system, transportation costs are added directly to the inventory balance</u>
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