Answer:
Information Age and labor saving innovation in manufacturing.
Explanation:
The Service economy can be defined as the economy which centers at giving the service than producing goods. A country that provides a service economy is able to earn more from the service sector than other sectors such as manufacturers.
The investment in the service economy is cheaper than other sectors and is comprised of <u>freelancers and entrepreneurs such as doctors, lawyers, professors, etc.</u>
<u>The factor that has led to this shift in countries to a service economy is because of the increase in demand for services in education and Information Technology. And also because of the labor-saving innovations</u>.
Thus the correct answer is the first option.
Answer:
Journal entry is given below
Explanation:
To record the payment of interest and the discount amortization at the end of period 1 we should debit the Interest expense and credit cash and discount
DATA
Interest expense in year 1 = $38,936
Interest to be paid = $36,450
Discount amortization = $2,486
Entry DEBIT CREDIT
Bond interest expense $38,936
Cash $36,450
Discount on bonds $2,486
Answer:
Estimated change in cash = $220,000
Explanation:
GIven:
Net income = $200,000
Sales = $540,000
Expenses = $180,000
Depreciation expenses = $60,000
Accounts receivable balance increased = $40,000
Find:
Estimated change in cash
Computation:
Estimated change in cash = Net income + Depreciation expense - Accounts receivable balance increased
Estimated change in cash = 200,000 + 60,000 - 40,000
Estimated change in cash = $220,000
Answer:
(a) $5,690
(b) $380
Explanation:
Given that,
current assets = $2,090
Net fixed assets = $9,830
Current liabilities = $1710
Long-term debt = $4520
Total assets:
= Current assets + Net fixed assets
= $2,090 + $9,830
= $11,920
Total Liabilities:
= Current Liabilities + Long-term Debt
= $1710 + $4520
= $6,230
(a) Total assets = Total liabilities + Stockholder's equity
$11,920 = $6,230 + Stockholder's equity
$11,920 - $6,230 = Stockholder's equity
$5,690 = Stockholder's equity
(b) Net working capital:
= Current assets - Current liabilities
= $2,090 - $1,710
= $380
Answer:
$79,800
Explanation:
Depreciation expense using the activity method = (actual hours of use in a given period / total estimated hours of use ) × ( Cost of asset - Salvage value)
(1500/10,000) × ($560,000 - $28,000) = $79,800
I hope my answer helps you.
