Answer: GDP data that has been adjusted for changes in the price level
Explanation:
Real GDP refers to the Nominal GDP adjusted for inflation. Nominal GDP calculates the value of final goods and services in the Economy by using the price levels of that year so if inflation has occurred, comparing it to previous years would be inaccurate.
The Real GDP would use the price levels of a base year to calculate the GDP of the current year so that the effect of inflation may be negated and the real growth of the economy can be seen.
Explanation:
The journal entries are shown below:
a. Bad debt expense A/c Dr $13,931
To Allowance for doubtful debts $13,931
(Being bad debt expense is recorded)
It is computed below:
= $421,300 × 4% - $2,921
= $13,931
b. a. Bad debt expense A/c Dr $17,722
To Allowance for doubtful debts $17,722
(Being bad debt expense is recorded)
It is computed below:
= $421,300 × 4% + $870
= $17,722
Answer:
B) =COUNT(A2:A101)
Explanation:
The COUNT function in excel with count the <em>contents</em> of all selected cells in the range (it counts what is <u>in the cells themselves</u>, not the number of cells). The range is expressed as starting cell, a colon, and the ending cell.
=COUNT(Starting cell#<u>:</u>Ending Cell)
The purpose of a lease is a rent. When you "lease" something, that's the business term of renting something ;-)
