Answer:
107.60
Explanation:
The formula for calculating the price index is as below
price index = current market price/ base year price x 100%
price index = $2107/$1958 x 100
price index = 1.076098059 x 100
price index = 107.6098059
Answer:
6%
Explanation:
As per given data
Quarter Real GDP ($billions) Long-Run Trend of Real GDP ($billions)
1 4,000 4,000
2 4,160 4,120
3 4,326 4,244
4 4,413 4,371
5 4,501 4,502
6 4,591 4,637
7 4,499 4,776
8 4,409 4,919
9 4,673 5,067
10 4,954 5,219
11 5,252 5,376
12 5,376 5,537
Growth of GDP = (DGP of Current/recent period - GDP of Prior period) / DGP of Prior period
In this question prior period is quarter 10 and current /recent period is quarter 11.
So, formula will be
Growth of GDP = (DGP of quarter 11 - GDP of quarter 10) / GDP of quarter 10
As we need to calculate the real GDP growth the formula will be as follow
Growth of real GDP = (Real DGP of quarter 11 - Real GDP of quarter 10) / Real GDP of quarter 10
Growth of real GDP = ($5,252 billion - $4,954 billion) / $4,954 billion
Growth of real GDP = $298 billion / $4,954 billion
Growth of real GDP = 6.02% = 6%
Answer:
The Journal entries are as follows:
(1) On July 1,
Retained earnings A/c [1,166 × $14] Dr. $16,324
To common stock distributable [1,166 × $2] $2,332
To paid-in-capital in excess of par- common stock $13,992
(To record declaration of stock dividend)
(2) On July 20,
common stock distributable A/c Dr. $2,332
To common stock $2,332
(To record distribution of the stock dividend)
Workings:
Common stock outstanding = 10,600 shares
Stock dividend declared = 11%
No. of common stock declared as dividend = 10,600 × 11%
= 1,166 shares
B. False
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