2 years ago

With a tax of $4,000 on $20,000 of

Business

1 answer:

ArbitrLikvidat [17]2 years ago

5 0

Answer:

Explanation:

With a tax of $4,000 on $20,000 of income and $6,000 on $30,000 of income, the average tax rate is:A) Constant at 10 percentB) Lower than the marginal tax ...

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Millcorp sells wetsuits for deep sea divers. It recently engineered a new material for its wetsuits to better hold in the wearer

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B) Millcorp has a lawful innocent acquisition of a monopoly.

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Exercise 15-2 On January 1, 2017, Klosterman Company issued $420,000, 12%, 10-year bonds at face value. Interest is payable annu

Maslowich

Answer:

The journal entry to record the bond issuance is shown below:

Explanation:

The journal entry to record the bond issuance is as:

Cash A/c.............................................Dr $420,000

Bonds Payable A/c......................Cr $420,000

Being the bonds issued

As the bonds are issued by the company so cash is coming into the business, which is an asset and any increase in asset is debited. Therefore, the cash account is debited. And cash is received against the bonds payable, so the account of bonds payable is credited.

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3 years ago

For each growth rate below, use the rule of 70 to calculate how long it will take incomes to double. Instructions: Round your an

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Answer:

Explanation:

Rule 70 is used to estimate how long it tales a cashflow amount to double.

The formula is as follows ;

Number of years = 70 / growth rate

At 1.4% growth rate;

Number of years = 70 / 1.4 = 50

At 3.2% growth rate;

Number of years = 70 / 3.2 = 21.88

At 4.9% growth rate;

Number of years = 70 / 4.9 = 14.29

At 6.4% growth rate;

Number of years = 70 / 6.4 = 10.94

At 7.5% growth rate;

Number of years = 70 / 7.5 = 9.33

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