All categories

3 years ago

The value of all final goods and services produced within a country is termed its __________.

1 answer:

6 0

This is called the gross domestic product. This is the value of all of the goods and services produced in a country in one year. Only legally sold goods are included in the gross domestic product. No illegal products or services are counted.

You might be interested in

When freelancers sell to publisher the right to use a piece only once, and there is no guarantee that it has not been published

siniylev [52]

Answer:

One time rights.

Explanation:

6 0

2 years ago

You want to buy a puppy. One of the kids at school has a dog that just had a litter of puppies. You ask her if you can get one o

VikaD [51]

Answer: The answer is Yes. This is because you have a choice to accept or decline.

8 0

3 years ago

Ten years ago, Cary Company issued $1,500,000 of 7 percent, 10-year bonds at a price of 95. On the maturity date of January 2, a

vampirchik [111]

Answer:

Debit Bonds Payable for $1,500,000

Credit Cash for $1,500,000.

Explanation:

Although this bonds were issued at a discount, but the Discount on Bonds Payable account will have zero balance on the day of maturity because of the entry that has been made on each interest payment date.

Therefore, the necessary journal entry for January 2, 2019 to complete is as follows:

Debit Bonds Payable for $1,500,000

Credit Cash for $1,500,000

This entry will appear as follows:

Date Name of Account DR ($) CR ($)

02 Jan '19 Bond payable 1,500,000

Cash 1,500,000

(To record retirement of 10-year bonds at maturity.)

6 0

3 years ago

Custom Cars purchased $39,000 of fixed assets two years ago that are classified as 5-year MACRS property. The MACRS rates are 20

maw [93]

Answer:

The after-tax cash flow (after-tax salvage value) from the sale is $18,941.20

Explanation:

The computation of the after-tax cash flow is shown below:

= Purchase of fixed asset - depreciation charged - sale value of machine + profit on sale - tax rate

= $39,000 - ($39,000 × 20% + 32%) - $19,000 + $280 - 21%

= $39,000 - $20,280 - $19,000 + 280 - $58.80

= $18,720 + $280 - $58.80

= $18,941.20

The $18,720 reflect the Written down value of the fixed asset which come from

= $39,000 - $20,280

3 0

3 years ago

Exercise 5-15B Record notes receivable and interest revenue (LO5-7) On March 1, Company A provides legal services to Company B r

Alex787 [66]

Answer:

March 1: Note acceptance

Debit Note receivable $9,100

Credit Accounts receivable $9,100

(To record note receivable from Company B)

Sept 1: Cash collection

Debit Cash $9,100

Credit Note receivable $9,100

(To record cash collection of note receivable)

Debit Cash $364

Credit Interest receivable $364

(To record cash collection of interest receivable on note)

Explanation:

Note is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.

Interest revenue on the note is calculated as: Principal x Interest Rate x Time

The total interest revenue is $9,100 x 8%/12 x 6 months = $364.

Monthly interest revenue is therefore $364 / 6 months = $60.67.

The 6 months is from March 1 to Sept. 1.

On a monthly basis, Company A would accrue for the interest revenue as follows:

Debit Interest receivable $60.67

Credit Interest revenue $60.67

(Interest accrual on notes receivable)

6 0

3 years ago