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ivolga24 [154]
3 years ago
12

In 1931, President Herbert Hoover was paid a salary of $75,000. Government statistics show a consumer price index of 15.2 for 19

31 and 237 for 2015. President Hoover’s 1931 salary was equivalent to a 2015 salary of about: a) $1,057,894. b) $16,080,001. c) $1,169,408. d) $4,965.
Business
1 answer:
zaharov [31]3 years ago
7 0

Answer: c) $1,169,408.

Explanation:

Given the following:

Consumer price index(CPI) :

Year 1 = 1931 = 15.2

Year 2 = 2015 = 237

Salary in 1931 = $75,000

Equivalent salary in 2015 Given the details above:

Salary in 1931 × (CPI for year 2(2015)/ CPI for year 1(1931))

$75,000 × ( 237 / 15.2)

= $75,000 × 15.592105

= $1,169,407.8

= $1,169,408

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3 0
1 year ago
A city government purchased a new fire truck in Year 1 for $270,000. The city incurred an additional $ 30,000 in transportation
erica [24]

Answer:

correct option is  $0

Explanation:

given data

purchased  truck = $270,000

transportation and calibration costs = $30,000

life = 20 years

financed period = 15 year

solution

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so that during that period related asset is expected to provide the benefit

and acquisition of capital asset is not record as expenses

we know  appropriate property and  plant or the equipment assets account are debit on  purchases

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6 0
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Michael is the new department head at his company. he expects everyone to agree with his restructuring plan for the department,
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