Answer:
Option Total assets, total liabilities, and equity are unchanged.
Explanation:
The reason is that the double entry to record this transaction is as under:
Dr Cash Account $42,000
Cr Accounts Receivable $42,000
Hence there increase in one asset and decrease in other asset will have zero net impact on assets. As equity and liabilities are not effected by the transaction, hence they will also remain unchanged.
Answer:
The dividends on common stock in 2014 for Mays, Inc was:
Dividends paid=$2650
Explanation:
1. You must follow the formula below to find out the Dividends Paid by Mays inc,
Payout ratio = (dividends paid/net earnings for the period) x 100 then,
Dividends paid= (Payout Ratio/100) x net earnings for the period
Dividends paid= (25%/100)x$
1'060.000
Dividends paid=$2650
Answer:
The answer is,
Asset
Most Liquid : $5 bill
Second-Most Liquid : The funds in a savings account
Third-Most Liquid : A bond issued by a publicly traded company
Least Liquid : Your house
The liquidity simply measures the ability to turn in to cash in a relatively short period of time. Cash at hand is the most liquid while property and other movable and immovable assets tends to be a bit difficult to be turned into cash quickly.
Explanation:
Answer:
No,
Explanation:
The tax withholding system is something that most of us take for granted, but the concerned citizens, politicians and economists who have analyzed it have many criticisms of the system.
Taxpayers have no idea how much they pay and are apathetic about tax rates
If taxpayers had to make one large payment, they would know exactly how much they were forking over for federal taxes, Social Security taxes, Medicare taxes and state taxes. Since the money is taken gradually, many people never pay attention to the full amount, which makes it easier for high tax rates to persist and for the government to increase tax rates. For example, the state of California in 2009 decided to use the tax withholding system to take a large, interest-free loan from its taxpayers. It increased the withholding tax by 10%, and even journalists didn't seem to notice until the days before the rate hike was implemented. The government says it will refund the borrowed money in April.
