If the economy has 100 workers, then the economy can produce a maximum of 500 tennis rackets.
Given, MPLT = 5 tennis rackets
MPLB = 4 baseball bats Number of workers =100
So, if the economy has 100 workers, then, 5 × 100 = 500
Hence, the economy can produce 500 tennis rackets.
There are two main sources of growth of the economy. First is the growth in the size of the workforce and second, growth in the productivity of that workforce.
Hence, either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income.
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According to tha data,
Receivable stock Turnover ratio = Credit sales / Average debtor
= $4,552 / ($505+$508)÷2
= $4,552 / $506.5
= 8.99
Inventory stock Turnover ratio = Cost ot goods sold / Average Inventory
= $2,637 / ($251+$240)÷2
= $2,637 / $245.5
= 10.74
Current ratio = Current assets / current liabilities
Current assets=$513+$508+$251+$26 = $1,298
Current Liabilities = $150+$377+$1+$102 =$630
Current ratio = $1,298 / $630
= 2.06
Cash ratio = Cash and cash equivalents / Total current liabilities
= $513 / $630
=0.81
Tines Interest earned ratio = Earnings before interest and tax (EBIT)/ Interest
EBIT = Net income + Tax expense + Interest expenses
= $374 + $233 +$72
= $679
Times interest earned ratio = $679 / $72
= 9.43
Cash Coverage ratio = Cash flows from operating activities / Cash paid for interest
= $608 / $65
= 9.35
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Answer:
The journal entry is as follows:
Retained earnings A/c Dr. $18 million
To common stock $0.30 million
To capital paid in excess A/c $17.70 million
(To record the stock dividend issued at 1%)
Working notes:
Shares issued = 1% of 30 million
= 0.30 million
Retained earnings:
= 0.30 million × $60 per share
= $18 million
Common stock:
= 0.30 million × $1 par value
= $0.30 million
Capital paid in excess:
= Retained earnings - Common stock
= $18 million - $0.30 million
= $17.7 million
Explanation:
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