The rites and rituals are considered to be ceremonies and
activities in which should be placed on the space provided because they are use
for occasions in a way of celebrating a specific group or organization that has
set an example above.
Answer:
have a higher labor-to-land ratio than its imports from Honduras
Explanation:
The factor proportions theory (or Heckscher-Ohlin model) of trade states that countries will export the goods which they can produce using their abundant factors of production. For example, countries like Japan that have abundance of labor force and capital, but very little land, will produce and export industrial goods that require a lot of labor and capital. On the other hand, countries like Argentina which have abundant labor and land, will export agricultural products.
in this case, El Salvador compared to Honduras has abundant labor, so the products that El Salvador exports to Honduras will have a higher labor-to-land due to the abundance of labor.
Answer:
- $45000
Explanation:
Economic profit is different from accounting profit in the sense that former also takes into consideration the implicit costs, also referred to as opportunity costs unlike the latter.
Economic Profit = Accounting profit - Opportunity Costs
Opportunity costs are defined as the the cost of sacrificed or foregone alternative for pursuing a particular alternative. Such costs are implicit or notional as they are not actually incurred.
In the given case, Economic Profit = Revenues - Explicit costs - Implicit costs
Here, the implicit cost is $60,000 income foregone.
Thus, Economic Profit = $20,000(income) - $ 5000 (expense) - $60,000 (opportunity cost)
Economic Profit = ($ 45,000) or -$45,000.
Answer:
Defining current and deferred tax first;
Current Tax - Current tax is the amount of Income Tax determined to be payable in respect of taxable income for a period.
Deferred Tax - Deferred tax is the tax effect of the timing difference. The difference between the tax expenses (which is calculated on an accrual basis) and current tax liability to be paid for a particular period as per Federal Income Tax Law is called deferred tax (asset/liability). That is why Tax Expenses + Current Tax + Deferred Tax
on the basis of the above explanations the question has been solved below:-
Particulars Amount
Current Year Income as per financial accounting $ 48,000
Current Year Taxable Income as Income Tax Laws $ 38,000
Current Year Tax Payable on Income Taxable under Federal Income Tax Laws $ 5,600
Current Year Tax Payable on Income as per financial accounting $ 7,600
Deferred Tax Asset to be recorded in Books of Accounts $ 2,000
Tax Rate to be used to record Deferred Tax Asset in Books = 20%
Answer:
$3,000 understated
Explanation:
The computation of the working capital in case of no correcting entries made is shown below:
= Depreciation Expense for 2020 - depreciation expense for year 2021 - ending inventory for 2021
= $18,000 - $6,000 - $9,000
= $3,000 understated
While there is no additional errors occurred and no correcting entries passed so in this the $3,000 is understated by above calculation
