Problemassume personal income was 28 million last year, Ask an Expert

Accounting

Problem:

Assume personal income was $28 million last year. Personal outlays were $20 million and personal current taxes were $5 million.

Required:

Question 1: What was the amount of disposable personal income last year?

Question 2: What was the amount of personal saving last year?

Question 3: Calculate personal saving as a percentage of disposable personal income.

Note: Show supporting computations in good form.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91168402

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