Question

Please answer both

Carry out calculations to at least 4 decimal places. Enter percentages as whole numbers. Example: 3.03% should be entered as 3.03. Do not include commas or dollar signs in numerical answers.

Answer 1

Ans (7):

Cash, Assets, Equity

Reason:
1st rank goes to cash Because, credibility of cash is always highest than other assets or equity. Then, Credibility of Assets is more than the credibility of equity.

Ans (8):

Actual Tax Payment = Tax liability for the year - Opening balance of deferred tax + Closing balance of deferred tax
= $2125 - $2400 + $1667
= $1392

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