Kingbird Corp
A.
Dr Account Receiveable $722,500
Cr Sales Revenue $722,500
B.
Dr cash $708,940
Cr Account receivable $708,940
C.
Dr Bad debt expense $14,220
($22,740-$8,520)
Cr Allowance for Doubtful Account $14,220
Answer:
Option (a) is correct.
Explanation:
Given that,
Explicit costs = $10,000
Here, the implicit cost is the cost of sacrificing money income from job:
= $10 per hour × 8 hours a day × 30 days
= $2,400
Revenues:
= Items produced in a day × Selling price of each × 30 days
= 50 × $10 × 30
= $15,000
Therefore,
Economic profit for the month:
= Revenues - Explicit costs - Implicit cost
= $15,000 - $10,000 - $2,400
= $2,600
Answer:
The correct answer would be option B, A bank approves mortgage for a customer.
Explanation:
Injecting money into the economy means increasing money supply in the economy. It means more money is in the circulation. So when a bank approves a mortgage for a customer, it means bank is releasing money which will be in circulation and becomes a part of the economy. Mortgage is basically the loan or money which a bank or financial institution lends to a person or company on an agreed upon interest rate in exchange of their property with the condition that the bank will sell the property to get its money back if the borrower fails to return the loaned money. So the best example of how a bank can inject money into the economy is to approve the mortgage for a customer.
Answer:
A. = (15% X $2M) + (21% X $2M) = $720,000. Since there is no mechanism for mitigating double taxation, the branch profit will be taxed on the to tax rate of 15% and 21% which is $300,000 and $420,000.
B. The total tax for $2m branch profit if US corporations can remove foreign based profit from US taxation will be just the 15% x $2m = $300,000.
C.If they are allowed to take deductions for foreign income taxes, the total tax on the $2m branch profit will be (21% -15%) x $2m = $120,000.
Explanation:
D.1. If credit are allowed for foreign income tax paid, total tax will be ($2m - $300,000 been foreign tax paid) x 21% = $357,000
D.2.
If the charge foreign income taxes at 30% and US corporations can claim refundable credit for foreign income tax paid on foreign source income = ($2m - $300,000 been the foreign income tax paid) = $1 700,000 x 30% = $510,000
First, calculate for the number of fans that would come to the event in their own vehicle. This is calculated by multiplying the number of fans by the percentage.
N = (70,000 fans)(0.60) = 42000
The number of vehicles is calculated by dividing the answer obtained above by 2.
n = (42000) / 2 = 21000
The number of vehicles in the satellite parking is the difference of 21000 and 9000 which gives us an answer of 12000. Since each satellite parking will accommodate 1500, dividing 12000 by 1500 is 8.
ANSWER: 8 satellite parkings
