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1 year ago

If 51 percent of all goods in the consumer price index (cpi) became more expensive and 49 percent became cheaper?

1 answer:

3 0

If 51 percent of all goods in the Consumer Price Index (CPI) became more expensive and 49 percent became cheaper then inflation or deflation could occur.

Inflation refers to an increase in the overall price level where goods becoming expensive. By calculating changes in a measure called the Consumer Price Index (CPI), the official inflation rate is tracked. Thus, the CPI tracks changes in the cost of living over time.

The CPI is the most commonly referenced index in the U.S. The economy is experiencing deflation when the change in prices in one period is lower than the next. This reveals that the CPI index has declined.

Hence, depending upon the changes in the economy, inflation or deflation could occur.

To learn more about Consumer Price Index (CPI) here:

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Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2020, Betty had the

Alexeev081 [22]

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2020, Betty had the following income and expenses. You may assume that Betty will owe $2,562 in self-employment tax on her salon income, with $1,281 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016 and that Betty itemizes her deductions this year.

Interest income $12,960

Salon sales and revenue 87,460

Salaries paid to beauticians 45,820

Beauty salon supplies 23,510

Alimony paid to her ex-husband, Rocky 6,550

Rental revenue from apartment building 33,200

Depreciation on apartment building 13,450

Real estate taxes paid on apartment building 11,540

Real estate taxes paid on personal residence 6,560

Contributions to charity 4,600

Required:

Determine the Betty's AGI value.Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2020, Betty had the following income and expenses. You may assume that Betty will owe $2,562 in self-employment tax on her salon income, with $1,281 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016 and that Betty itemizes her deductions this year.

Interest income $12,960

Salon sales and revenue 87,460

Salaries paid to beauticians 45,820

Beauty salon supplies 23,510

Alimony paid to her ex-husband, Rocky 6,550

Rental revenue from apartment building 33,200

Depreciation on apartment building 13,450

Real estate taxes paid on apartment building 11,540

Real estate taxes paid on personal residence 6,560

Contributions to charity 4,600

Required:

Interest income $12,960

Salon sales and revenue 87,460

Salaries paid to beauticians 45,820

Beauty salon supplies 23,510

Alimony paid to her ex-husband, Rocky 6,550

Rental revenue from apartment building 33,200

Depreciation on apartment building 13,450

Real estate taxes paid on apartment building 11,540

Real estate taxes paid on personal residence 6,560

Contributions to charity 4,600

Required:

Determine the Betty's AGI value

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3 years ago

Ayayai Corp. uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $200,

Ket [755]

Answer:

Option (B) is correct.

Explanation:

Amount of which adjusting entry required:

= Amount of uncollectible accounts - Balance in Allowance for uncollectible accounts

= (Balance in accounts receivable × Estimated percentage of accounts receivable to be uncollectible) - Balance in Allowance for uncollectible accounts

= ($200,000 × 4%) - $2,000

= $8,000 - $2,000

= $6,000

Therefore, the adjusting entry is as follows:

Bad debt expense A/c Dr. $6,000

To Allowance for uncollectible accounts $6,000

(To record the bad debt expense)

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diamong [38]

Answer: True

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gregori [183]

Answer:

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What do you call a franchise ownerâs share of earnings that is given as a payment to a parent company?

BabaBlast [244]

Franchise royalty fee.

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