Answer:
$4,267,059
Explanation:
to determine the equivalent amount of money between 1924 and 2008, we must divide the 2008 CPI by the 1924 CPI, and then multiply by $36,000:
= (2015 / 17) x $36,000 = 118.53 x $36,000 = $4,267,059
The consumer price index measures the weighted price of basket of goods . It is useful for calculating inflation and comparing how the purchasing value of the US dollar has decreased in time. Basically what this shows us, is that $1 in 1924 would purchase the same amount of goods as $118.53 in 2008.
Answer:
Indirect taxes
Explanation:
Indirect taxes are the taxes levied on transactions as opposed to direct taxes that are imposed on incomes. An indirect tax is added to the prices of goods and services and collected by the seller or retailer. The retailer acts as the tax intermediary and submits the taxes collected to the government.
Examples of Indirect taxes include excise duty tax, value-added tax, and sales tax. Gas attracts sales tax and road maintenance tax. These taxes increase the price of gas, making them indirect taxes.
Answer:
Incase of any emergency like an accident 5hey can support you
Answer:
the costs that change depending on a company's performance
Explanation:
Variable costs refer to the costs that fluctuate with the level of production. An increase or decrease in the output level results in variable costs moving in the same direction. If the business stops production, the variable costs will be nil.
Raw materials and packaging costs are good examples of variable costs. The more a company produces, the more materials it consumes, and the higher the costs of purchasing the materials.
Answer and Explanation:
The computation is shown below
1. The adjusted balance in the retained earning is shown below:
= beginning balance of retained earning + adjusted net income
where,
beginning balance of retained earning is $860,000
And, the adjusted net income is
= $68,000 × (1 - 0.35)
= $44,200
So, the adjusted balance in the retained earning is
= $860,000 + $44,200
= $904,200
2. Now the journal entry is
Inventory $68,000
To Retained earning $44,200
To Tax payable $23,800 ($68,000 × 35%)
(Being the adjustment of ending inventory is recorded)
It increased the inventory and along with it it also increased the equity and liabilities so the respective account is debited and credited
