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Stolb23 [73]
3 years ago
7

In which transaction cycle would customer sales transaction information be most likely to pass between internal and external acc

ounting information systems?
a. the revenue cycle

b. the expenditure cycle

c. the human resources / payroll cycle

d. the financing cycle?
Business
1 answer:
dlinn [17]3 years ago
5 0
A. the revenue cycle

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Randall is single and has total income from all sources (taxable and nontaxable) of $83,000. His taxable income is $62,000. Rand
bekas [8.4K]

Answer:

effective tax rate = 13.54

Explanation:

given data

total income = $83,000

taxable income = $62,000

tax liability = $11,239

to find out

effective tax rate

solution

we get here effective tax rate that is express as

effective tax rate = \frac{total\ tax}{total\ income}    .................1

put here value and we get

effective tax rate = \frac{11239}{83000}  

effective tax rate = 13.54

6 0
3 years ago
On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The
Setler [38]

Answer:

1. In 2021, Capitalized interest = $205,000

2. In 2022, Capitalized interest = $3,870,000

3. Total cost = $5,231,980

Explanation:

See the attached file for the  calculation

3 0
3 years ago
Task 2: Record the listed transactions of Nikea Inc. for the first quarter (January to March) in
gavmur [86]

Answer and Explanation:

The journal entries are shown below:

a. Cash Dr $20,000

     To Capital $20,000

(being the issuance of the capital stock is recorded)

b. Rent Dr $5,000

      To cash $5,000

(being the rent paid is recorded)

c. Supplies dr $1,500

       To Account payable $1,500

(being the supplies purchased on account is recorded)

d. Account payable Dr $1,000

     To cash $1,000

(being the amount paid is recorded)

e. Cash Dr $25,000

       To sales commission $25,000

(being the sales commission earned is recorded)

f. Automobile expense $4,500

     To Cash $4,500

(being cash paid is recorded)

g. Office salaries Dr $8,000

      To cash $8,000

(being cash paid is recorded)

h Supplies expense $1,500

    To supplies  $1,500

(being supplies expense is recorded)

g. Dividend payable $1,500

     To Cash $1,500

(being dividend paid is recorded)

3 0
2 years ago
On March 1, 2018, Gold Examiner receives $165,000 from a local bank and promises to deliver 100 units of certified 1-oz. gold ba
photoshop1234 [79]

Answer:

<u><em>there are two performance: </em></u>

the sales revenue and the insurance.

cash     165,000 debit

    unearned revenues   165,000 credit

--to record collectiong from local bank

unearned revenues  165,000 debit

    sales revenues                    151,000 credit

    insurance liability                  9,900  credit

--to record gold delivered to Brink's--

insurance liability   9,900 debit

      insurance fees earned       9,900 credit

--to record reception of bank from Brink/end of the insurance--

Explanation:

sales revenue

100 x 1,410 = 141,000 = 94%

insurance:

100 x 90 =       9,000 =   6%

   total         150,000

combo: 165,000

sales revenue:             165,000 x 94% = 155,100

insurance fee earned: 165,000 x 6% =      9,900

7 0
3 years ago
10. Crowding out effect Suppose economists observe that an increase in government spending of $13 billion raises the total deman
Lilit [14]

Answer:

Explanation:

Effect of crowding out:

The crowding out phenomena describes the economic phenomena in which an increase in government public spending leads to reduced or perhaps may eliminate of private investment.

Multiplier:

The multiplier represents the ratio of income to investment change.

Given that:

$13 billion increase in government spending will lead to a $52 billion

The rise in demand for goods & service will be the value of multiplier which is

= 52/13

= 4

To determine the multiplier using the formula:

Multiplier = 1 /( 1- MPC)

4 = 1/(1 - MPC)

4 (1 - MPC) = 1

(1- MPC) = 1/4

-MPC = 0.25 - 1

MPC = 0.75

Marginal propensity to consume = 0.75

6 0
3 years ago
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