Answer:
1) this country's public debt = $42 billion
2) incomplete question
Explanation:
A budget deficit is the difference between a country's income and its expenditures, a deficit occurs when expenditures are larger than revenues. The public debt would be the accumulation of all the country's budget deficits or surpluses.
public debt = -$20 - $30 + $10 - $2 = -$42 billion
Answer:
Terry's Closing Inventory is $131,360.
Terry's Gross profit is $431,360.
We follow these steps to arrive at the answers:
<u>1. Calculate the base value of closing inventory (CI):</u>


<u>2. Calculate additions to inventory at base price</u>


<u>3. Calculate the value of additions to inventory at current prices</u>


<u>4. Calculate the value of Closing inventory</u>


<u>5. Compute Cost of Goods Sold (COGS):</u>


<u>6. Compute Gross profit</u>


Answer:
cash 20,000,000 debit
unearned revenue 20,000,000 credit
Explanation:
Record the advance collection of $20 million for iTunes gift card.
When a gift card is sold, Apple Inc assume the obligation of latter provide iTunes in the near future or do cash reimbursement therefore; this isn't revenue. It is a liability. Apple will generate revenue when the gift ard are redeem not at sale.
Answer:
Will call purchasing
Explanation:
Cash and carry also known as "will call purchasing" or "carry trade" is a sales strategy or method of purchase in which a customer must pay for an item immediately and must take the item with them. It eradicates all forms of credit sales.
Cash and Carry involves paying for an item and taking it along with you. There is no space for future delivery and it doesn't include delivery cost in the price of an item.
Pickup can't be delayed to a later date.