Answer:
Yes, he paid the correct amount
Total Expected Payment = 103.85 + 8.57 = $112.42
Explanation:
Matthew bought 4 new compact discs at $16.99 each and a carrying case for $35.89. He paid 8 1/4% sales tax on his purchases. If Matthew paid $112.42 total, determine if he paid the correct amount.
Total Purchase cost is ($16.99 x 4) + $35.89 = $103.85
8.25% of $103.85 = $8.57
Total Expected Payment = 103.85 + 8.57 = $112.42
Answer: their gross income
Explanation:
Since Mohammad and Fatima have to total the income they earned in the past year and include all of their investment dividends and any income they earned from their jobs. This is their gross income.
Gross income for an individual is made up of the income that is gotten from wages and salary and other ways the individual makes income like dividends, interest, pensions, and rental income.
Answer: b. increases, the money multiplier decreases, and the money supply decreases
Explanation:
When the central bank raises the reserve requirement, the reserve ratio increase as banks will now hold more money as reserves. The Money multiplier decreases as Reserve ratio increase therefore when The reserve ratio increases the money multiplier will decrease which will then lead to a decrease in the money supply.
When Banks hold more money because of an increased reserve requirement, Money Multiplier and Money supply will decrease because each bank will have less funds available for loans.
Simple interest produces interest only over the initial amount.
So every year the interest will be $1000 * 5 / 100 = $50.
That is, after 3 years 3 * $50 = $ 150.
Simple interest does not take into account the reduction of the principal but calculates the interest over the same initial amount, in this case $1000.
So, the answer is $150, which is the result of $50 times 3.
Answer:
For X-Men, the Sales Discount should be recorded at the estimated discount amount that will be taken by the X-Men's customers, which is calculated as: $1,000 * 2% = $20.
The adjusting for sales discount X-Men should be recorded as followed:
Dr Sales Discount 20
Cr Allowance for Sales Discount 20
( to record the estimated sales discount taken)
in which, Sales Discount is a contra-revenue account which helps to record the Net Sales amount from the Gross Sales amount.
Explanation: