Answer:
Part 1: The correct option is False.
Part 2: The correct option is False.
Explanation:
<em>For the first Question</em>
The correct answer is False as GDP has increased due to women participation in workforce.
<em>For the second Question</em>
The correct answer is False as the change in measure of well being is less than the change in GDP.
Answer:
Cash and equivalents $700 Debit*
Accounts Receivables $700 Credit*
Explanation: The cash represents a debit because we are receiving the cash from a sale already made and the credit is made accounts receivable, because the product was previously sold only that a payment term was given to the person who is currently fulfilling, then the account receivable becomes cash as part of the company's operating cycle.
Answer:
option (C) is correct.
Explanation:
Given that,
Beginning work in process inventory: $102,000
Direct materials used: 156,000
Actual overhead: 132,000
Overhead applied: 138,000
Cost of goods manufactured: 675,000
Total manufacturing costs: 642,000
Company's direct labor cost for the year:
= Total manufacturing costs - Overhead cost - Direct materials cost
= Total manufacturing costs - Overhead applied - Direct materials used
= $642,000 - $138,000 - $156,000
= $348,000
Answer:
$80 million
Explanation:
We know that
Multiplier = (1) ÷ (1 - marginal propensity to consume)
= (1) ÷ (1 - 0.75)
= (1) ÷ (0.25)
= 4
Now the GDP would increase by
= Increase in Investment spending × multiplier effect
= $20 billion × 4
= $80 million increase
We simply multiplied the investment spending increase with the multiplier effect
Answer:
A) Debit cash, credit accounts receivable
Explanation:
As the statement said, Zoono electronics made a payment which means they are debiting cash amount of $3,500 to imperial distributor who is a supplier. So the best statement that best describes the recording of this financial transaction by imperial distributor is their account receivable has been credited and cash is debited. All the other options are wrong except this.
