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andrew11 [14]
3 years ago
15

what does it mean when you have demand for a good or service a.you can afford the good but may be unwilling to buy it. b.you wan

t the good but may not have the money for it. c.you are able to buy the good but not at the given price d.you are willing and able to buy the good at the given price.
Business
1 answer:
Nonamiya [84]3 years ago
8 0
D. You are willing and able to buy the good at the given price
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An economy has $10 trillion in consumption, $2.5 trillion in investment, $3 trillion in government purchases, $1 trillion in exp
barxatty [35]

Answer:

$15 trillions

Explanation:

The computation of the GDP is shown below:

GDP = Consumption + Investment + Government purchase + Net exports

where,  

Consumption = $10 trillions

Investment = $2.5 trillions

Government purchase = $3 trillions

Net exports = Exports - imports

= $1 trillion - $1.5 trillion

= -$0.5 trillion

So, the GDP would be

= $10 trillions + $2.5 trillions + $3 trillions - $0.5 trillions

= $15 trillions

= 13.5 trillions

3 0
2 years ago
Why does a country need to have a comparative advantage in a particular product in order to engage in trade with another country
harkovskaia [24]

Answer:

Countries have a comparative advantage in production when they can produce a good or service at a lower opportunity cost than other producers.

5 0
2 years ago
Land containing a mine having an estimated 1,000,000 tons of economically extractable ore is purchased for $375,000. after the o
Leokris [45]
Should your answr  be a ratio it is 75/375
7 0
3 years ago
During 2018, businesses may elect to immediately expense up to $__________ of qualified real property placed in service that yea
alex41 [277]

Answer:

$1 million

Explanation:

Section 179 deduction of the IRS code was enacted to help small business owners take depreciation deductions for certain assets ( capital expenditure I.e. the money spent on acquiring and maintaining fixed assets such as buildings and equipments ) in one year rather than continuous depreciation over a long period of time.

The new law increased the maximum deduction from $500,000 to $1 million.

For example: lets say you buy a computer for your office, under section 179 you can deduct the full cost of your computer in one year. This a very okay because the life span of your computer is short

5 0
3 years ago
Rayya Co. purchases a machine for $105,000 on January 1, 2019. Straight-line depreciation is taken each year for four years assu
Elina [12.6K]

Answer:

Entry to record the partial year’s depreciation on July 1, 2023:

Debit Depreciation Expense $7,500

Credit Accumulated depreciation account  $7,500

1) The machine is sold for $45,500 cash:

Debit Cash $45,500

Debit Accumulated depreciation account $67,500

Credit Gain on asset selling $8,000

Credit Machine asset $105,000

(2) The machine is sold for $25,000 cash

Debit Cash $25,000

Debit Accumulated depreciation account $67,500

Debit Loss on asset selling $12,500

Credit Machine asset $105,000

Explanation:

Rayya Co. uses straight-line depreciation method, Depreciation Expense each year is calculated by following formula:

Annual Depreciation Expense = (Cost of machine − Salvage Value )/Useful Life = ($105,000 - $0)/7 = $15,000

In 2023, the machine is used for 6 months (half year)

Depreciation Expense = $15,000/2 = $7,500

Entry to record the partial year’s depreciation on July 1, 2023:

Debit Depreciation Expense $7,500

Credit Accumulated depreciation account  $7,500

On July 1, 2023, Accumulated depreciation = $15,000 x 4 + $7,500 = $67,500

Carrying amount of the machine = $105,000 - $67,500 = $37,500

(1) The machine is sold for $45,500 cash:

Sale price - Carrying amount of the machine = $45,500 - $37,500 = $8,000>0

=> The company recognizes gain on the sales $8,000

Debit Cash $45,500

Debit Accumulated depreciation account $67,500

Credit Gain on asset selling $8,000

Credit Machine asset $105,000

(2) The machine is sold for $25,000 cash

Sale price - Carrying amount of the machine = $25,000 - $37,500 = -$12,500<0

=> The company recognizes loss on the sales $12,500

The entry should be made:  

Debit Cash $25,000

Debit Accumulated depreciation account $67,500

Debit Loss on asset selling $12,500

Credit Machine asset $105,000

3 0
2 years ago
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