Answer:
$30,604
Explanation:
The computation of the interest expense for the year 2020 is as follows:
2019 interest expense is
= Equipment amount × rate of interest
= $311,967 × 9%
= $28,077
The Dec 31 2019 liability of book value is
= $311,967 + $28,077
= $340,044
Now the interest expense for the year 2020 is
= $340,044 × 0.09
= $30,604
<u>Answer: </u>Option A
<u>Explanation:</u>
The income earned by the individuals after the deduction of tax is known as the disposable income. This disposable income is the income utilized by the households to spend for their living. Disposable income is used in calculation of the economic activities in the country.
Disposable income is also used as the economic indicator in calculating the growth of the country's financial position. It is also utilized in savings for retirement or future savings. It can be calculated as follows:
DPI= Personal Earnings - Income tax paid to the government
Answer: a)$300,000
Explanation:
Stockholders Equity shows just how much of the company is being financed by the shareholders. It is calculated by,
Total Stockholders Equity for the Year = Issued and Outstanding Shares + Retained Earnings - Treasury Stock
Retained Earnings = Opening Retained Earnings + Net Income - Dividends
First year of operation so no Opening Retained Earnings.
= $0 + 60,000 - $30,000
= $30,000
Total Stockholders Equity for the Year = (40,000* $8) + $30,000 - (5,000 * 10)
= 320,000 + 30,000 - 50,000
= $300,000
