Answer:
Explanation:
The journal entries are shown below:
On July 1
Prepaid insurance A/c Dr $9,400
To Cash A/c $9,400
(Being the prepaid insurance for cash is recorded)
On December 31
Insurance expense A/c Dr $2,350
To Prepaid insurance A/c $2,350
(Being the insurance expense is recorded)
The computation is shown below:
= Prepaid insurance amount ÷ number of years × number of months ÷ total number of months in a year
= $9,400 ÷ 2 years × 6 months ÷ 12 months
= $2,350
Answer:
C. Land
Explanation:
Input is any commodity used in the manufacturing of other products. Factors of production are the inputs or resources used in the production of other goods and services. They include land, capital, labor, and entrepreneurship.
From the list provided, the only the factor of production is land. In economics, land refers to the fertile fields used in agricultural production. It also refers to space where commercial buildings, factories, and businesses are set up. Land also includes natural occurring resources and minerals such as oil, natural gas, and precious stones.
Answer:
True
Explanation:
The profit margin calculation is shown below:
= (Net income ÷ net sales) × 100
= ($130,500 ÷ $1,740,000) × 100
= 7.5%
We simply divide net income by net sales in order to achieve the gross profit margin. This indicates a correlation between net income or net income and net sales.
All other information provided is irrelevant. Therefore, it was ignored
Answer:
The correct answer that fills the gap is: reduced by the unspent amount.
Explanation:
If there is a difference between budgeted and spent (positive or negative), the final result must be charged to the period immediately following. Otherwise it happens with long-term obligations, which are recognized in future periods until it is completely exhausted.
Answer:
The decrease in the remote interest for US products will lessen the net fares of the US economy,
AD = Consumption + speculation + government use + Net fares,
As on factor net fare decay the AD bend will move leftward in the short run. So in short run the genuine GDP fall beneath than the degree of potential GDP.
The short run impact
Since a long time ago run Aggregate Supply Short-run Aggregate Supply PRICE Initial Aggregate Demand Final Aggregate Demand Real GDP (Billions of dollars)
The underlying balance was given by the crossing point of the underlying total interest, SRAS and LRAS at E1. Presently the balance changes from E1 to E2 due to leftward move in the AD bend.
Therefore ,the costs level abatement and furthermore the genuine GDP level.
Over the long haul, firms will diminish the lessening the creation as request is less, so the interest for work likewise falls, which lead to diminish the wages of laborers, As interest for work and wages falls, the creation will fall and supply will move leftward.
From the outline, it is indicated that new harmony at point E3 is the place potential genuine GDP accomplished yet at an even lower cost ( from P2 to P3), this implies collapse in the economy.
