Answer:
The answer is:
Dr Cash $5,025
Cr: Receivable $5,000
Cr: Interest Revenue $25
Explanation:
The year is 360 days.
Annual rate is 6%
Therefore, interest rare for the 30-day is 1.5%[(90/360) x 6%]
So, the interest on the rate is:
0.5% x $5,000
$25.
The total amount collected from Bria will be principal + interest
$5,000 + $25 = $5,025
According to the accounting rule, debit increases asset and expenses and vice-versa while credit decreases liability, equity, income and vice versa.
So we have:
Dr Cash $5,025
Cr: Receivable $5,000
Cr: Interest Revenue $25
Answer: $35 million (nearest whole million)
Explanation:
To calculate the current year's tax Payable we will start by ascertaining the Net Taxable income.
Fema Corporation did not account for the net operating loss carryforward of $81 million in the $200 million pretax accounting and taxable income for the current year so we have to do that.
Doing that would be,
= $200 million - 81 million
= $119 million
This is the Net Taxable Income.
We will then use the NEW tax rate which was effected immediately to determine the new Tax Payable,
= $119 million * 0.29
= $34.51 million
= $35 million (nearest whole million)
Answer:
The correct answer is letter "D": Clayton Act.
Explanation:
Introduced by Democrat Henry De La Mar Clayton (1857-1929), the Clayton Act is a treaty passed by the U.S. Congress in 1914. This Act is the main antitrust legislation that forbids <em>anti-competitive mergers, acquisition of stocks, tying contracts, predatory pricing among other illegal corporate behavior.</em>
Answer:
The correct answer is: The Railway Labor Act.
Explanation:
The Railway Labor Act is a U.S. federal law originally passed in 1926 to control labor relations in railroad and airline industries. The act also aims to replace the industry employees' strikes for bargaining, arbitration, and mediation in front of labor-related issues.
