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3 years ago

Which of the following situations could cause a budget deficit for the federal government?

2 answers:

7 0

The answer is letter C. There is a recession. It is a temporary economic decline when trade and business activities are lessened which leads to the GDP of the country to reduce in numbers. If the decline would last for at least 6 months, this will cause a major impact on the real GDP,

jarptica [38.1K]3 years ago

7 0

Answer: The answer is letter C.

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What is job description

Sphinxa [80]

When someone is looking to hire someone for a job online or on a poster they will add a job description it gives a brief overview of what the job entails

3 0

3 years ago

The problem of a double coincidence of wants refers to A. poorlyminusmanaged companies producing what consumers want only by coi

bija089 [108]

Answer:

D. the necessity in a barter system of each trading partner wanting what the other has to trade.

Explanation:

Double confidence of wants was one of the shortcomings of the barter system.

For example, if someone wants corn and has yam. He has to find someone that wants yam and has corn to trade in order for a trade to occur.

The introduction of money solved this problem.

I hope my answer helps you

7 0

3 years ago

Company XYZ has the following sales budget for the last six months of 2018. July $100,000 August $75,000 September $100,000 Octo

sweet [91]

Answer: $67,250

Explanation:

Sales budget : July $100,000, August $75,000, September $100,000, October $70,000, November $110,000, December $94,000

What are the expected cash collections of sales in October

From the question, cash collection of sales has been as follows: 60% of sales collected in month of sales 20% of sales collected in month following sale 7% of sales collected in second month following sale 2% of sales uncollectible

Sales: 75,000 100,000 70,000

August. 45,000.

September 15,000 60000

October 5,250. 20,000 42,000

Total collected in October is 5250+20000+42,000= 67,250

7 0

3 years ago

Merando Industries employs a 5-day workweek and a September 30 year-end. Normal weekly wages amount to $41760. If September 30 e

kati45 [8]

Answer:

Debit: Salaries and wages expense $25,056

Credit: Salaries and wages payable $25,056

<em>(To recognize the salaries and wages payable at year-end)</em>

Explanation:

Merando Industries employs a 5-day workweek - this means $41,760 normal weekly wages can be divided by 5 to arrive at the daily workweek wages, which is $41,760 / 5 = $8,352.

If the fiscal year-end is a Wednesday, the company has to recognize a salaries and wages payable of $25,056 due to the following:

the workweek remains 2 weekdays to complete
the company pays at the completion of the 5-day workweek
there is no need to recognize the remaining 2 days next year as salaries and wages payable since the employer may not have control over the employees - they may decide the exit the company

So, the amount to be recognized will be $8,352 x 3 = $25,056.

4 0

3 years ago

Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year: Work in Process, January

slega [8]

Answer:

cost of goods manufactured= $64,700

Explanation:

Giving the following information:

Work in Process, January 1 $ 53,600

Work in Process, December 31 38,800

Total Factory overhead 7,300

Direct materials used 14,300

Direct labor used 28,300

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 53,600 + 14,300 + 7,300 + 28,300 - 38,800

cost of goods manufactured= $64,700

7 0

3 years ago