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Answer:
The answer is: Jamison has $175 in taxes due.
Explanation:
To determine the amount of taxes that Jamison still has to pay, we can use the following formula:
Taxes due = tax liability - (taxes withheld by employer + tax credits)
Taxes due = $7,200 - ($4,400 + $2,625) = $7,200 - $7,025 = $175
Jamison has $175 in taxes due.
Answer:
242.65
Explanation:
Data provided in the question:
year 2011 2012 2013
Salary $65,000 $72,000 $76,000
Consumer Price Index 226 230 235
Real Interest Rate 2.5% 2.7% 1.8%
Nominal interest rate for 2013 = 7.3%
Now,
Rate of inflation for 2013 = Nominal rate - Real rate
= 7.3% - 1.8%
= 5.5%
Therefore,
CPI in 2013 = Consumer Price Index in 2012 × (1 + inflation )
= 230 × ( 1 + 0.055 )
= 242.65
Explanation:
Disruptive technology, new business ventures, and increased availability of data are quickly changing traditional financial reporting and assurance processes. As a result, prospective auditors not only need to understand fundamental auditing concepts, but also need to anticipate the influence that disruptive technology will have on the profession. The following case study provides a lens through which prospective auditors can view the coming changes to the profession by asking them to consider how the online lending company, Kabbage, is currently disrupting the lending industry for non-traditional and small businesses. Students contemplate several fundamental auditing concepts such as audit evidence, financial statement assertions, and analytical procedures while also acquiring insight into the effects that new and disruptive technology will have on the profession. The intention is to encourage students to embrace coming changes and become lifetime learners.
