Any increase in government spending must be offset by an increase in revenue and/or cuts in spending elsewhere in the budget.
<h3>What does Texas Constitution require a balanced budget?</h3>
- Texas always keeps its budget balanced because the State Constitution demands it. The Texas state and local sales taxes exceed 10% of the individual transaction price. The primary operating fund for Texas is the General Revenue Dedicated Fund.
- A constitutional amendment known as the "balanced budget amendment" would restrict government spending to the amount of revenue it receives. Spending would need to be under control by the federal government.
An amendment to the texas constitution requires a balanced budget. This means that any increase in government spending must be offset by an increase in revenue and/or cuts in spending elsewhere in the budget.
According to a balanced budget, a government should not spend more than its income. Thus projected incomes and expenditures should be equal.
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Answer: $5 per machine hour
Explanation:
Given the following :
Estimated manufacturing overhead cost = $550,000
Expected machine-hour to be incurred = 110,000
Actual manufacturing overhead = $575,000
Actual machine hour incurred = 120,000
The manufacturing overhead application rate:
Expected manufacturing overhead cost / Expected machine hour to be incurred
= $550,000 / 110,000 machine hour
= $5 per machine hour
Answer:
Feb. 1
Debit : Cash (48,000 x $52) $2,496,000
Credit : Preferred Stock (48,000 x $50) $2,400,000
Credit : Paid in excess of Par - Preferred Stock $96,000
July 1
Debit : Cash (66,000 x $56) $3,696,000
Credit : Preferred Stock (66,000 x $50) $3,300,000
Credit : Paid in excess of Par - Preferred Stock $396,000
Explanation:
With Par value stocks, any amount paid in excess of par is placed in a reserve - Paid in Excess of Par as shown in the journals above.
Answer and Explanation:
The computation is shown below
1. The adjusted balance in the retained earning is shown below:
= beginning balance of retained earning + adjusted net income
where,
beginning balance of retained earning is $860,000
And, the adjusted net income is
= $68,000 × (1 - 0.35)
= $44,200
So, the adjusted balance in the retained earning is
= $860,000 + $44,200
= $904,200
2. Now the journal entry is
Inventory $68,000
To Retained earning $44,200
To Tax payable $23,800 ($68,000 × 35%)
(Being the adjustment of ending inventory is recorded)
It increased the inventory and along with it it also increased the equity and liabilities so the respective account is debited and credited
The initiatives that Woolworths use to lessen their impact on the environment - RECYCLING
we're committed to lowering the quantity of waste we send to landfill, recycling what we will and the usage of recyclable materials wherein we can. a number of THE ways we are RECYCLING TO reduce WASTE: RECYCLED PLASTIC: the whole lot in our shops from trolleys to signage is made from recycled substances.
1. ENERGY
We want to lessen the negative affects of weather exchange. That’s why we’ve made a commitment to the usage of power efficiently and decreasing our carbon footprint.
HERE'S HOW WE'RE SAVING ENERGY
AT OUR STORES: every time we design a new store, we have a look at the way to encompass strength-saving elements and solar energy. This has resulted in extra than 40% reduction in energy utilization in SA shops, with over 100 inexperienced stores designed.
2. WATER
We want to ensure future generations will still be able to enjoy clean, fresh water. That's why we’re actively working to use water responsibly – in our own operations and those of our suppliers.
HERE'S HOW WE'RE SAVING WATER:
AT OUR HEAD OFFICE: We treat and use underground water, saving the local municipality over 14.5 million litres of water every year.
FARMING FOR THE FUTURE: We’re helping farmers reduce water wastage and water pollution through our Farming for the Future initiative.
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