Answer:
According to the OECD the total expenditure of the US government, including state and local is about a 38% of the GDP.
Explanation:
The federal government expends almost the 55% of the total and the remaining 45% the state and local government.
Answer:
A
cash 15,000 debit
accounts receivable 15,000 credit
B
cash 150 debit
gift card liaiblity 150 credit
C
accounts receivable 4,000 debit
services revenue 4,000 credit
D
cash 2,250 debit
unearned revenue 2,250 credit
E
accounts receivable 125 debit
service revenues 125 credit
Explanation:
A
we increase cash and decrease the customers accounts
B
we record the cash proceeds and use a liability for the obligation in the near future to provide services to a customer
C
we recognize the revenue and increase our accounts receivable
D
as the colleciton is in advance the revenue is not earned. this is a liability as we now have the obligation to perform services in the near future
E
we must match the revenue whn the time it occurs and that time was february not march.
Answer:
Burberry is pursuing an umbrella branding strategy
Explanation:
Based on the scenario being described it seems that Burberry is pursuing an umbrella branding strategy. This type of strategy focuses on having a single brand name for the sale of two or more related products with different specs. Which Burberry is doing by having separate category of items made specifically for different target populations, such as entry-level price point items and couture items, even though they are all under the Burberry brand.
Answer:
Dr Capital $25,000
Cr Income summary $25,000
Being loss recorded in the year written off to capital account
Dr Capital $2,800
Cr Drawings $2,800
Being drawings for the year
The new balance in the capital account is $18,200
Explanation:
The journal entries required to close the accounts a credit of $25,000 in the income summary and a corresponding debit to capital account since the loss made must be reflected in owner's equity.
Also,the drawings amount in the year should now be credited to drawings account and debited to capital account to reflect the withdrawal in owner's equity as well.
The new balance in the capital account is as follows:
Opening capital balance $46,000
Loss recorded ($25,000)
drawings ($2,800)
Closing capital $18,200
