Assume personal income was $28 million last year. Personal outlays were $20 million and personal current taxes
Question:
a. What was the amount of disposable personal income last year?
b. What was the amount of personal saving last year?
c. Calculate personal saving as a percentage of disposable personal income.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
a Disposable personal income DPI personal income per...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Introduction to Finance Markets Investments and Financial Management
ISBN: 978-1118492673
15th edition
Authors: Melicher Ronald, Norton Edgar
Question Posted:
Students also viewed these Accounting questions
-
What determines the amount of income tax that is withheld from employee paycheques?
-
What is the amount of service department cost allocated to P1 and P2 using the step method with S1 goingfirst? Percentage Service Provided to: Department Cost S1 S2 P1 P2 Service 1 (S1] Service 2...
-
What is the amount of Direct Materials Used? Work in Process, Beginning ..... $10,000 Work in Process, Ending ...... $15,000 Direct Labor costs incurred ..... $4,000 Cost of Goods Manufactured ........
-
What is a time series? Explain the four characteristics that time series may exhibit and provide some practical examples.
-
Why are both the current measures and the trends of the ratios over time important measures of financial well-being?
-
"No cartel in history has ever succeeded for very long. There is just too much opportunity to cheat." What does it mean for a cartel member to "cheat"? What would a member of, say, the OPEC cartel...
-
Suppose \(F(S, t)\) is the forward price of a commodity with no storage cost and governed by \(\mathrm{d} S(t)=\mu \mathrm{d} t+\sigma \mathrm{d} z\) and terminating at time \(T\). What is the...
-
Horne executed a $100,000 note in favor of R. C. Clark. On the back of the instrument was a restriction stating that the note could not be transferred, pledged, or otherwise assigned without Hornes...
-
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Beginning inventory Purchase Units...
-
A company's debt is given by a bond that will mature in two years. After two years the company will terminate all activity. The company unlevered equity value in two years can be $17 millions with a...
-
Personal income amounted to $17 million last year. Personal current taxes amounted to $4 million and personal outlays for consumption expenditures, non-mortgage interest, and so forth were $12...
-
The components that comprise a nations gross domestic product were identified and discussed in the chapter. Assume the following accounts and amounts were reported by a nation last year. Government...
-
To conduct a consumer analysis for the productthe good, service, or ideain your marketing plan: 1. Identify the consumers who are most likely to buy your productthe primary target marketin terms of:...
-
How do historical precedents and case studies of successful or failed social movements provide insights into the strategies and conditions that facilitate meaningful and lasting social change ?
-
Can the concept of social change be analyzed through interdisciplinary lenses such as sociology, anthropology, and political science to capture its multifaceted nature and underlying mechanisms ?
-
Use the product process matrix to explain the proposal by management for market 2 for international frozen pizza company.
-
For this week's forum, we are exploring websites that check information for bias, misinformation, and possible fake news misinformation. Go to the following websites and review the methodology they...
-
How can a firm motivate salespeople who work on commission (as many mortgage brokers did in the run-up to the Financial Crisis) to sell products that are in their customers' interest rather than...
-
Henrietta, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into a city in the Northeast. She incurs $35,000 of expenses associated...
-
Annual dividends of ATTA Corp grew from $0.96 in 2005 to $1.76 in 2017. What was the annual growth rate?
-
What is the difference between bivariate regression and multiple regression?
-
A small eastern European economy asks your opinion about whether they should pursue the path to joining the European Economic and Monetary Union (EMU) or simply euroize (i.e. dollarize by using the...
-
Panama, Ecuador, and El Salvador began using the U.S. dollar as their domestic currency in 1904, 2000, and 2001, respectively. How do you expect their inflation rates to compare with U.S. inflation?...
-
Did the September, 2000, currency intervention by the United States and other countries influence the dollar-euro exchange rates? Plot for the September-October 2000 period the daily dollar-euro...
-
Shaw Company has the following account balances: Receivables $ 1 0 0 , 0 0 0 Inventory 1 5 0 , 0 0 0 Land 1 0 0 , 0 0 0 Building net 2 5 0 , 0 0 0 Liabilities 1 0 0 , 0 0 0 Common stock 1 0 0 , 0 0 0...
-
Mizan Corporation, a manufacturing company, prepares its financial statements annually. During the last month of the fiscal year, Mizan experiences a significant surge in sales. The sales team closes...
-
A firm uses job - order costing. Current period facts: Actual overhead: $ 1 0 4 , 6 8 8 Applied overhead: $ 1 0 4 , 9 0 5 Budgeted overhead: $ 1 0 8 , 6 9 8 COGS balance ( before closing ) : $ 3 9 0...
Study smarter with the SolutionInn App