Answer:
monetary policy, Federal reserve’s tool to influence the money supply in the economy
factor market, A market where firms buy services related to production
product market, A market where finished goods and services are traded
fiscal policy, Federal government’s way to influence the economy through taxes
Explanation: I looked up the deffinitions, because the other answers did not seem right to me.
Answer:
Interest expense = $800,000
Explanation:
Given:
Net income = $13,000,000
EBIT = $20,800,000
Tax rate = 35% = 0.35
Find:
Interest expense
Computation:
Net income= (EBIT - Interest expense) × ( 1-tax rate)
$13,000,000 = [$20,800,000 - Interest expense][1-0.35]
20,000,000 = [$20,800,000 - Interest expense]
Interest expense = $800,000
Answer:
June 30
Explanation:
According to the revenue recognition principle, the sale is made when it is earned, not when it is received by the customer. That means it follows the accrual basis of accounting, not the cash basis of accounting.
In the given situation, On June 30 the printing shop provides service to a customer for $1,000, On July 5 it sent a bill and on July 25, the amount is received by the customer.
So, The $1,000 would be recognized on June 30 when the sale is made by the printing shop
