Answer:
An example of production under the command system in the United States is that of the production of roads and passable roads throughout the nation. In this case, it is the production of a public service, and as such it is controlled by the government in all stages of its production: from the identification of the need, through the tender, the construction authorization and the supervision of the results, everything is controlled by the government. This implies that individuals or private companies cannot by their own initiative create this type of road, but rather depend exclusively on the will of the government.
Answer:
B. $5600
Explanation:
Purchase price = $35,000
Expected life cycle= 10 years
Salvage value= $3000
Depreciation expense at the year 2= ?
Solution:
Using a straight line method.
Depreciation= Purchase price/expected useful life( straight line method)
Depreciation= 35,0000/10
=$3500 which is equivalent to 10% of the original price.
Using double declining-balance method, the value will double to
Depreciation expense in Year 1 = (20% of $35000) $7000
Depreciation expense in Year 2=
(20% of $28,000) $5600
Answer:
See explanation section
Explanation:
Journal entry to record R. Selleck's Investment is as follows:
Debit Cash $10,000
Debit Office Equipment $5,000
Credit Capital, R. Selleck $15,000
Since he provides cash and office equipment, both the investment will be considered as capital of R. Selleck. Since he does not take any loan to provide money to the partnership business, no entry is made for loan.
Answer:
Explanation:
The towns of Jekyll and Hyde each have a labor force of 2,000 people. In Jekyll, 500 people were unemployed for the entire year, while the rest of the labor force was employed continuously. In Hyde, every member of the labor force was unemployed for three months and was employed for nine months. The average duration of unemployment spells over the year was 12 months in Jekyll and 3 months in Hyde.
