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3 years ago

Following are the transactions of Sustain Company.

Business

1 answer:

Dennis_Churaev [7]3 years ago

5 0

Answer:

Sustain Company

General Journal

June 1

Cash $18,000 (debit)

Common Stock $18,000 (credit)

Cash Received in Exchange of Common Stock

June 2

Furniture $11,000 (debit)

Accounts Receivable $11,000 (credit)

Furniture purchased on credit

June 3

Prepaid Insurance $2,000 (debit)

Cash $2,000 (credit)

Insurance paid in advance

June 4

Accounts Receivable $10,000 (debit)

Service Revenue $10,000 (credit)

Service rendered on credit

June 12

Accounts Payable $11,000 (debit)

Cash $11,000 (credit)

Payment made to suppliers

June 20

Cash $10,000 (debit)

Accounts Receivable $10,000 (credit)

Cash payment received from Accounts

June 21

Cash $17,000 (debit)

Common Stock $17,000 (credit)

Cash Received in Exchange for Common Stock

June 30

Cash $12,000 (debit)

Deferred Revenue $12,000 (credit)

Cash Received for the Services to be Rendered

Explanation:

See the journal Entries and Narrations that i have prepared above.

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Which fiscal policy would be the most contractionary?  A. A $40 billion increase in taxes B. A $50 billion increase in governmen

Elena L [17]

Answer: Option (C) is correct.

Explanation:

Correct option: A $50 billion decrease in government spending would be the most contractionary fiscal policy.

A. Increase the taxes by $40 billion is also a contractionary fiscal policy but it doesn't have a greater impact than decreasing the government spending by $50 billion.

B. It is an expansionary fiscal policy.

D. There are both expansionary fiscal policy by decreasing taxes by $10 billion and contractionary fiscal policy by decreasing government spending by $40 billion. But it doesn't have much impact as the option (C) is having.

Therefore, Option (C) is having the most contractionary fiscal policy.

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3 years ago

Tru or false? the older traditional form of management structure is the horizontal organization

Tamiku [17]

The answer is false.

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3 years ago

Marilyn is age 66, if she receives a $15,000 taxable HSA distribution this year, what tax penalty, if any, will apply?

Arada [10]

Answer:

No penalty

Explanation:

The tax penalty is as follows

The HSA i.e. health saving account. It is opened so that the expenses related to the medical could be paid and the high health plan i.e. deductible (HDHP) would not covered here

In the case when rules are not followed so there is a penalty of 20%

Given that the amount taxable is $15,000

So here the penalty would be

= $15,000 × 20%

= $3,000

But since Marilyn age is 66 so there is no penalty as the penalty would be applied till the age of 65

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2 years ago

An increase in government spending by $100 would, if the mpc = 0. 90, result in an increase in real gdp by?

bixtya [17]

The answer is $1000

As Change in real GDP= Change in gov. spending/(1-MPC)

100/(1-0.90)=1000

Gross domestic product is the monetary fee of all finished goods and services made inside a country during a selected duration. GDP affords an economic snapshot of a rustic, used to estimate the scale of a financial system and growth charge. GDP can be calculated in 3 methods, the use of fees, production, or earning.

In economics, the marginal propensity to consume (MPC) is defined as the percentage of a mixture enhance in pay that a consumer spends on the consumption of goods and offerings, instead of saving it.

Learn more about Gross domestic product here

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1 year ago

Shidan Apartments purchased an apartment building to rent to university students on November 18, 2017. The following costs were

Masteriza [31]

Answer:

$351,000

Explanation:

The computation of the amount of an asset is as follows;

Purchase price of the building $220,000

Purchase price of the land $100,000

Transfer taxes $10,000

Attorney and real estate agent's fees $15,000

Repave the parking lot $6,000

Cost of apartment $351,000

hence, the cost of an apartment is $351,000

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2 years ago