Answer: To know the amount of tax the business should pay from reported profit which is different from it's actual tax bill
Explanation:
Income tax expense could be described as what is calculated that the company owes in taxes according to accounting rules. They are reported on the income statement.
While Income tax payable is described as the actual amount the company owes in taxes based on the rules of tax code. They appear on the balance sheet of the company accounting documents until the bills are cleared off or paid.
The reason for understanding the difference is to know the amount of tax the business should pay from reported profit which is different from it's actual tax bill
A free trade agreement or treaty is a multinational agreement according to international law to form a free-trade area between the cooperating states
Answer:
The correct ways to prepare a customer's change over the counter are:
Explanation:
1. In the cash drawer, store each denomination together in a section
2. As you receive cash, straighten them out and arrange them uniformly. Let every bill be faced in the same direction.
3. Deduct the total price of goods bought from the total amount handed to you by the customer.
4. The result from the above calculation is the customer's change.
5. Peek into the cash drawer and neatly pick out the notes or bills that make up this amount.
6. Carefully replace the shifted bills or coins in the drawer.
7. Place your hands on the desk or in sight of the customer and count the change for them to see.
8. Hand it over to the customer!
Answer:
Explanation:
Monthly payments from <em>mortgages</em> are calculated with the compounding montly interest rate.
Thus, you can "calculate" the monthly rate and the multiply by 12 to obtain the <em>APR</em> (annual percentage rate).
The equation for the <em>monthly payment </em>is:
![Monthly\text{ }Payment=Loan\times \bigg[\dfrac{r(1+r)^t}{(1+r)^t-1}\bigg]](https://tex.z-dn.net/?f=Monthly%5Ctext%7B%20%7DPayment%3DLoan%5Ctimes%20%5Cbigg%5B%5Cdfrac%7Br%281%2Br%29%5Et%7D%7B%281%2Br%29%5Et-1%7D%5Cbigg%5D)
- Loan = 80% × $1,800,00 = $1,440,000
- Monthly payment = $10,800
- t = number of months = 25 × 12 = 300
Substitute:
![\$10,800=\$1,440,000\times \bigg[\dfrac{r(1+r)^{300}}{(1+r)^{300}-1}\bigg]](https://tex.z-dn.net/?f=%5C%2410%2C800%3D%5C%241%2C440%2C000%5Ctimes%20%5Cbigg%5B%5Cdfrac%7Br%281%2Br%29%5E%7B300%7D%7D%7B%281%2Br%29%5E%7B300%7D-1%7D%5Cbigg%5D)
You must find r but it is very difficult to make it the subject of the equation; thus, the best is to do succesive calculations:
Tests:
r monthyly payment
- 0.01 $15,166.43 > $10,800 ⇒ lower
- 0.005 $ 9,277.94 < $10,800 ⇒ increase
- 0.006 $10,362.08 pretty close; increase a little bit
- 0.00639059 $10,800 ↔ this is the number
Multiply the rate by 12 (to obtain the APR): 0.00639059 × 12 = 0.07668708 = 7.67%.
