Answer:
The share of each additional dollar of income earned that is devoted to saving rather than consumption.
Explanation:
The marginal propensity to save is defined as the fraction of increased income that is reserved for saving and not consumption, and it is the slope of the graph of income against savings.
For example if an individual earns an extra dollar and he has propensity to save of 0.5 that means out of the one dollar he will save 50 cents and spend the remaining 50 cents.
Answer:
Legal Service Revenue Dr $3000
Unearned Revenue Cr $3000
This is due to the fact that the amount of 25% of the work is undone. Hence, it is recorded as a liability and since it is earned, it is shown as unearned revenue.
Checking money is the amount of money.
Answer:
$16,440
Explanation:
If Bruce is able to work 600 hours per year, his salary will be $3,600 (= $6 x 600), but he will lose $2,160 (= $3,600 x 60%) of welfare stipend.
His total welfare stipend is $15,000 if he is not able to work during the year.
Bruce's total income = $15,000 + $3,600 - $2,160 = $16,440
Answer:
Common stock dividend distributable = Par * Number of shares * % dividend
= 13 * 46,500 * 15%
= $90,675
Stock Dividend = Number of shares * market price * % dividend
= 46,500 * 18 * 15%
= $125,550
Date Account Title Debit Credit
Dec, 1 Stock Dividend $125,550
Common Stock Dividend Distributable $90,675
Paid in Capital in excess of Par- $34,875
Common stock
Date Account Title Debit Credit
Dec, 31 Common Stock Dividend Distributable $90,675
Common Stock $90,675