Answer:
The correct answer is letter "C": When using the standard mileage, combine the mileage of all vehicles into one entry.
Explanation:
The standard mileage is a rate set by the Internal Revenue Service (IRS) for taxpayers to consider deduction expenses of mileage driven due to business activities. When the taxpayer has more than one business and different vehicles, the sum of the mileage used for business purposes is added in one amount to be considered for deduction.
Answer: 17.5%
Explanation:
The equilibrium will occur where the money demanded equals to the money supplied i.e Ms = Md
From the question, the supply of currency by the Central Bank = 40
Money Supply (Ms) = m × B
where m = Money multiplier = 2.5
Note that the money multiplier can also be equal to 1/rr in situations wherebt the consumers do not hold any currency.
rr = reserve ratio, = 0.4
B = monetary base = 40
Note that the monetary base here is 40.
Since reserve ratio = 0.4, therefore
m = 1/0.4 = 2.5
Therefore, Ms = m × B
= 2.5 × 40
= 100
Thus Money supply Ms = 100.
Money demand(Md) = Y(0.3 - i),
Y = income = 800
i = interest rate
Since (Md) = Y(0.3 - i),
Md = 800(0.3 - i)
Equate the equation for the money demand and money supply together.
Ms = Md
100 = 800(0.3 - i)
100 = 240 - 800i
800i = 240 - 100
800i = 140
i = 140/800
i= 0.175
= 17.5%
Therefore, the interest rate is 17.5%
Answer and Explanation:
The preparation of the bank reconciliation statement is presented below:
Balance as per bank statement as on Dec 31 $2,83,000.00
Add: Deposit in transit $29,500.00
less: cheques outstanding $68,540.00
Adjusted Balance as on 31st December $2,43,960.00
Balance as per Ledger as on Dec 31 $2,45,410.00
Less: Bank debit memo for service charges 750
less: payment of invoice wrongly recorded 700
Adjusted Balance as per 31st December $ 2,43,960.00
Frictional, Structural, &
Cyclical
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Answer:
Instructions are listed below
Explanation:
Giving the following information:
Year Cash Flow
1 $ 1,100
2 1,330
3 1,550
4 2,290
A) i=6%
FV= PV*(1+i)^n
1= 1100*1.06^4= 1388.73
2=1330*1.06^3= 1584.05
3= 1550*1.06^2= 1742.58
4= 2290*1.06= 2427.4
Total= $7,142.76
B) i= 14%
FV= $8,453.29
C) i= 21%
FV= $9,754.38