Answer: D
Explanation:
As the name implies, the most basic difference between a product and a service is that services are intangible, meaning they cannot be touched, tasted, or seen like a pure product can.
Answer:
Eric Pense Journal Entries:
a. Dr Cash$23,000
Dr Office Equipment12,000
Cr Pense, Capital$35,000
b. Dr Land $8,000
Dr Building $33,000
Cr Cash$15,000
Cr Notes payable$26,000
c.Dr Supplies 600
Cr Accounts payable$600
d.Dr Automobile$7,000
Cr Capital$7,000
e.Dr Office Equipment$1,100
Cr Accounts payable$1,100
f.Dr Salary $800
Cr Cash$800
g.Dr Cash$2,700
Cr Fees Earned$2,700
h. Dr Utilities Expense$430
Cr Cash$430
i.Dr Account payable$600
Cr Cash$600
J. Dr Office Equipment $4,000
Cr Cash$4,000
k. Dr Accounts receivables$2,400
Cr Fees Earned$2,400
l. Dr Salary$800
Cr Cash$800
m. Dr Cash$1,000
Cr Accounts Receivable$1,000
n.Dr Pense, Withdrawal$1,050
Cr Cash$1,050
Explanation:
Answer:
Investment 175
Explanation:
<u>Calcualted from Income:</u>
GDP = C + G + I
350 = 100 + 75 + I
I = 350 - 100 - 75
I = 175
The income comes from consumption, the goverment or through invesment
<u>Calculated from savings: Investment = Savings</u>
Savings = public saving + private savings
Savings = (taxes - gov spending) + (income - consumption - taxes)
Savings = (60 - 75 ) + (350 - 100 - 60)
Savings = -15 + 190 = 175
To invest, we need to save, the public savings is the difference between the taxes colelcted and the gov spending
Then, the private savings are what is left after consuming and paying taxes.
