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2 years ago

In a command economy, the government does not decide where a person works True or false

1 answer:

3 0

A command economy is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods are offered for sale. It also determines investments and incomes. The command economy is a key feature of any communist society. Cuba, North Korea and the former Soviet Union are examples of countries that have command economies, while China maintained a command economy for decades before transitioning to a mixed economy that features both communistic and capitalistic elements .

False

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Following are the accounts and balances from the adjusted trial balance of stark company

Lorico [155]

Answer:

STARK COMPANY

INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER 31

PARTICULARS AMOUNT $

Service Revenue 20,000

Expenses

Supplies expense 200

Interest expense 500

Insurance expense 1,800

Utilities expense 1,300

Depreciation expense 2,000

Wages expense 7,500

Total expenses 13,300

Net profit 6,700

STARK COMPANY

STATEMENT OF RETAINED EARNINGS

FOR THE YEAR ENDED DECEMBER 31

Amount $

Retained earnings December 31 prior year end 14,800

Add- Net income 6,700

Less- Dividends 3,000 3,700

Retained earnings, December 31 Current year end 18,500

3. STARK COMPANY

BALANCE SHEET FOR THE YEAR ENDED DECEMBER 31

Current Assets

Cash 10,000

Accounts receivable 4,000

Office supplies 800

Prepaid insurance 2,500

Total current asset 17,300

Non Current Assets

Buildings 40,000

Less- Accumulated dep. 15,000

Total Non Current Assets 25,000

Total Assets 42,300

Liabilities

Current liabilities

Accounts payable 1,500

Interest payable 100

Notes payable 11,000

Unearned revenue 800

Wages payable 400

Total Current liabilities 13,800

Long term liabilities

Common stock 10,000

Retained earnings 18,500 28,500

Total liabilities and capital 42,300

7 0

3 years ago

Nataro, Incorporated, has sales of $742,000, costs of $316,000, depreciation expense of $39,000, interest expense of $34,000, an

LenaWriter [7]

Based on the information given the net income is $278,870.

<h3>Net income </h3>

Sales $742,000

Less Costs ($316,000)

Les Depreciation ($39,000)

EBIT $387,000

Less Interest ($34,000)

Taxable Inc. $353,000

Taxes (21%) $74,130

($353000×21%)

Net Income $278,870

($353,000-$74,130)

Inconclusion the net income is $278,870.

Learn more about net income here:brainly.com/question/15530787

3 0

2 years ago

Judy acquired passive Activity A in January 2013 and Activity B in July 2014. Until 2018, Activity A was profitable. Activity A

Crazy boy [7]

Answer:

Judy may deduct $54,000 of the net losses.

Explanation:

2018 Passive Activity Limitations $39,500

Passive Income ($33,500) – loss allowed to the extent of passive income

Suspended Passive Activity Limitations $6,000

2019 Passive Activity Limitations $69,500

Passive Income ($21,500) – loss allowed to the extent of passive income

Suspended Passive Activity Limitations $48,000

$54,000 Suspended Passive Activity Limitations

7 0

2 years ago

The management of Ro Corporation is investigating automating a process. Old equipment, with a current salvage value of $24,000,

Margaret [11]

Answer:

36.26%

Explanation:

Simple rate of return:

return/investment

return:

In this case, it will be the cost saving for the new machine: 161,000

investment

We will decrease the investment by the recovery from the old machine.

468,000 new machine - 24,000 salvage value of new = 444,000

Then, proceed to calculate:

161,000/444,000 = 0.3612 = 36.26%

Consideration:

Is important to state that this rate, do not consider the time value of money, neither the cash flow of the project.

3 0

2 years ago

International business differs from domestic business in that a firm operating across borders must deal with: Group of answer ch

Novosadov [1.4K]

Answer: A firm operating across borders must deal with both foreign and international environment. Options A and B

Explanation:

International Business is a kind of business between two or more countries, that involves the trade of products and services across national borders or on a global level.

An example is the oil industry in which oil is produced by one country and sold to another. Both countries deal with both Foreign and International environments.

5 0

3 years ago