Answer:
Higher GDP reflects higher economic growth of an economy
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceeds import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
6. Measures for calculating happiness. so higher GDP doesn't indicate higher happiness
Answer and Explanation:
a. The pension worksheet for the pension plan for the year 2014 and 2015 is presented on the excel spreadsheet
b. According to the scenario, The journal entry is
Journal Entry:-
Pension expenses A/c Dr. $450,640
Other comprehensive income (gain/loss) A/c Dr. $99,360
Other comprehensive income (prior service cost) A/c Dr. $410,000
To pension assets & liabilities A/c $675,000
To Cash A/c $285,000
(Being the pension expense is recorded)
For recording this we debited the pension expense, other income, gain or loss as it increased the expenses reduced the income and credited the cash and assets and liabilities because it reduced the cash and recognize the pension assets and liabilities
False. If you say that you have had a positive work experience, it will seem as though you are skilled in that field.
Answer:
Guardian Health Services Co.
Income Statement for the year ended February 28, 20Y0
$ $
Sales
Service Revenue 334,100
Cost of Goods sold
Supplies Expense <u> 4,180</u>
Gross Profit 329,920
Operating expense
Utilities Expense 26,800
Wages Expense 262,700
Depreciation Expense 17,400
Insurance Expense 8,530
Miscellaneous Expense 6,790
Rent Expense 70,300
<u> 392,520</u>
Net profit/(loss) (62,600)
Explanation:
The income statement is a statement that shows the net profit or loss of a business for a period end. It shows the income made and expenses incurred in the course of a given period.
Answer:
"$224,000" is the correct solution.
Explanation:
The given values are:
Corporation purchased percentage,
= 25%
Original investment,
= $210,000
Short's net income,
= $80,000
Paid cash dividend,
= $24,000
Now,
The share of net income will be:
= 
= 
= 
($)
The cash dividend will be:
= 
= 
= 
($)
hence,
On December 31, 2021, the balance will be:
= 
= 
= 
= 
($)
