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2 years ago

Economics Unit 5 Study Guide

Business

1 answer:

Alika [10]2 years ago

4 0

The Government agency and the organizations are the groups that are facilitated for the working by the government, privately or with government support.

<h3>What is Government agency?</h3>

The Government agency and the organizations are the groups that are operated either privately or by the government for the operation of the task.

The Government agency is defined as a public organization with the task to complete the work for the government.

The Government Contractor is a private business that works for the completion of the government work.

The Government Corporation is given as the establishment for the independent operation of the goods and services supported by the government.

Learn more about Government agency, here:

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In 2020, Ryan files as head of household and has taxable income of $122,500. None of his taxable income consists of capital gain

soldi70 [24.7K]

Answer: 22,038, 22,037, or 22,036

Explanation:

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3 years ago

OS Environmental provides cost-effective solutions for managing regulatory requirements and environmental needs specific to the

MrMuchimi

Answer:

In accrual basis accounting, expenses are recorded in the period when their matching revenues are obtained.

In this case, even if the full interest will be paid at maturity, interest expense will still be recorded in each period according to the information that we are given in the question.

Interest expense to be recorded by December 31

5,200,000 * 0.12 = 624,000 / 2 = 312,000

Interest expense to be recorded by September 30

5,200,000 * 0.10 = 520,000 * 3/12 = 130,000

Interest expense to be recorded by October 31

5,200,000 * 0.09 = 468,000 * 4/12 = 156,000

Interest expense to be recorded by January 31

5,200,000 * 0.06 = 312,000 * 7/12 = 182,000

3 0

3 years ago

Fogelberg Company purchased equipment for $12,000. Sales tax on the purchase was $600. Other costs incurred were freight charges

Step2247 [10]

Answer : The correct option is, (d) $13,110.00

Explanation : Given,

Price when company purchased equipment = $12000

Sales tax price = $600

Freight charges = $240

Damage charges = $420

Installation costs = $270

Now we have to determine the total cost of the equipment.

Total cost of the equipment = Purchased price + Sales tax price + Freight charges + Installation costs

Total cost of the equipment = $12000 + $600 + $240 + $270

Total cost of the equipment = $13110.00

Thus, the total cost of the equipment is, $13110.00

5 0

3 years ago

Kerry, Inc., exchanged land and cash of $8,900 for equipment. The land had a book value of $64,000 and a fair value of $69,900.

kipiarov [429]

Answer:

Explanation:

The journal entry is shown below:

Equipment A/c Dr $78,800

To Gain on exchange A/c $5,900

To Land A/c $64,000

To Cash A/c $8,900

(Being the exchange is recorded and the remaining balance is credited to the gain on exchange account)

The equipment value is computed below:

= Fair value + exchange value

= $69,900 + $8,900

= $78,800

3 0

4 years ago

Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, RE for Stateme

Katen [24]

Answer:

a. Accounts Payable: B

b. Cash: B

c. Common stock: B.

d. Account Receivables: B

e. Rent expenses: I

f. Service revenue: I

g. Office supplies: B

h. Dividends: RE

i. Land: B

j. Salaries Expenses: I

Explanation:

a. Accounts Payable: I

It is recorded in the Liability part to showed amount owed to suppliers.

b. Cash: B

It is recorded in the Current Asset part to show amount of cash on hand and in bank.

c. Common stock: B

It is recorded in the Owner Equity part to show Owner's capital contribution

d. Account Receivables: B

It is recorded in the Asset part to show amount owed from customers.

e. Rent expenses: I

It is recorded in the expenses part of income statement.

f. Service revenue: I

It is recorded in the revenue part of income statement.

g. Office supplies: B

It is recorded in the current asset part of the Balance Sheet statement to show how much office supplies is not consumed/ fully consumed.

h. Dividends: RE

It is recorded in the Statement of Retained Earnings to show dividend paid out in the reporting period.

i. Land: B

It is recorded in the Non-current Asset part of the balance sheet to show Book value of land possession.

j. Salaries Expenses: I

It is recorded in the expenses part of income statement.

5 0

4 years ago