The growth rate in India on the eve of independence was 0.5% per annum.
<h3>What is independence?</h3>
Independence refers to the act of getting free from controlling of the dominating or ruling parties.
On the eve of independence, the economy was sluggish, and agriculture was the main activity that sparked growth. The colonial authorities made no serious attempt to assess India's national and per capita GDP.
Therefore, it can be concluded that 0.5% p.a. was the growth of the India at the time of independence.
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Answer:
See explanation for the answer.
Explanation:
1.
Balances of bonds payable, bond investment, interest income and interest expense are to be considered
Proceeds from for bonds (1400000*50%*0.95) 665000
Carrying value of bonds
Face value (1400000*50%) 700000
Unamortized premium (8/10*(1400000*50%*0.09)) 50400
Carrying value 750400
Gain on retirement of bonds 85400
2.
General journal Debit Credit
Bonds payable 700000
Premium on bonds payable 44100
Interest income 74375
Investment in bonds (665000+4375) 669375
Interest expense 63700
Gain on retirement 85400
Answer:
Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory – Ending work in process inventory
Explanation:
Cost of goods sold is the total direct costs of producing the goods sold by a company.
Cost of goods sold = cost of direct materials + cost of direct labour + Manufacturing Overhead + Beginning work in process inventory – Ending work in process inventory
Answer:
Journal entry to eliminate Sale to Peter Company
Debit : Sales Revenue (Sally Company ) $50,000
Credit : Cost of Sales (Peter Company) $50,000
Explanation:
Peter Company and Sally Company are in a group and Peter Company is the Parent whilst Sally Company is the subsidiary.
For 2019 Eliminate an Intragroup Transactions that occur between Peter Company and Sally Company.
