Answer and Explanation:
The journal entry is shown below:
Cash ($5,400,000 × 102%) $5,508,000
To Bonds Payable $5,400,000
To Premium on Bonds Payable $108,000
(To record the issuance of the bond payable)
In the above journal entry, the cash is debited as it increased the assets and credited the bond payable and premium on bond payable as it increased the liabilities
Answer:
"$71" is the correct answer.
Explanation:
Given:
Number of units,
= 5,000
Direct material,
= 55,000
Direct labor,
= 160,000
Variable overhead,
= 75,000
Fixed overhead,
= 65,000
Now,
The total relevant costs will be:
=
=
= ($)
hence,
The relevant cost per unit will be:
=
=
= ($)
Stephanie's marginal tax rate is 15%.
<u>Explanation:</u>
The Average tax rate is 8%
she pays $3.75 as the tax on $25 which makes tax rate at this point =3.75/25
= 15%
The Marginal tax rate is the percentage of income that has to be paid as tax as a result of a change in the income bracket.
For instance, if tax rate until $1-$1000 is 10%
and for $1000 and above is 20%.
So for every $ earned over and above $1000.The marginal tax rate for that sum is 20%.