Estimated tax<span> is a method of paying </span>tax on income that is not subject to withholding tax<span>. This can include income from self-employment, business earnings, interest, rent, dividends and other sources.</span>
To complete the measurement process, companies need to update balances of assets, liabilities, revenues and expenses for changes created by adjusting entries.
<h3 /><h3>What is adjusting entry?</h3>
An adjusting entry is the entry that is posted after the posting of all the journal entries for a period, all the transactions are posted and then at the end of the period the adjusting entry is recorded.
The adjusting entry balances and effects the balance of the assets, liabilities, revenue and expenditure at the end of the period.
Adjusting entry is also posted when the reversing effect of the journal entry is to be posted and this results in the change of the account balances of assets and liabilities of the company.
The balance sheet and income statement is prepared after the posting of journal and adjusting entries.
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Arthur is in the status of identity referred to as<u> identity foreclosure.</u>
<h3>What is Identity foreclosure?</h3>
Identity foreclosure can be defined as the stage of self or identity discovery in which a young person identify what they are capable of doing but they are yet to experience other available options.
Hence, he agreed to join the family business without thinking about his decision because he is in identity foreclosure stage.
Therefore Arthur is in the status of identity referred to as<u> identity foreclosure.</u>
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Answer:
A. 0.61%
Explanation:
Calculation for what your 1-year holding-period return
Based on the information given the $1,000 par value bond will be the price for the year and we should also take note that YTM also equals the coupon rate.
We are going to use calculator to find what the following year's price will be
N = 7
I/Y = 7
PMT = 60 (60%×$1,000)
FV = 1,000
CPT PV -946.11
Now let calculate how much we would have at the end of 1 year
$946.11 + $60
= $1,006.11
Last step is to calculate for what your 1-year holding-period return
Holding-period return = $1,006.11/$1,000 - 1
Holding-period return= 0.61%
Therefore your 1-year holding-period return was 0.61%
Answer:
Option (B) is correct.
Explanation:
Gross domestic product (GDP) deflator determines the prices of all the good and services produced within the nation whereas consumer price index (CPI) calculates the price of goods and services that are bought by the consumers.
GDP deflator only includes the goods and services that are produced domestically which means that it doesn't include imported goods but in case of CPI, it includes the price of all the imported goods that are bought by the consumers.
Therefore, above are the reasons why CPI is better than GDP deflator at indicating the prices of the goods and services that are bought by the consumers of a nation.
