Answer:
C. debit Salary Expense, $8000; credit Salaries Payable, $8000
Explanation:
When Salaries are payable or accrued, the following journal entry is passed:
Salaries Expense A/C Dr.
To Salaries Payable A/C
(Being salaries payable recorded)
The effect of the above transaction being, salary expense being debited and salaries payable or outstanding liability being created.
On the date of payment, the journal entry would be:
Salaries Payable A/C Dr.
To Cash A/C
(Being salaries paid in cash recorded)
In the given case, 2 days salaries i.e $8000 have accrued. The entry to be passed on Tuesday would be as under:
Salaries Expense A/C Dr. $8000
To Salaries Payable A/C $8000
(Being salaries payable recorded)
taking commercial paper in good faith means the holder acts honestly
Answer:
I will lay out China's GDP growth rate in the last years:
YEAR GDP GROWTH RATE
2018 - 6.6%
2017 - 6.7%
2016 - 6.7%
2015 - 6.9%
2014 - 7.3%
2013 - 7.7%
2012 - 7.8%
2011 - 9.5%
2010 - 10.6%
2009 - 9.4%
2008 - 9.6%
2007 - 14.2%
2006 - 12.7%
2005 - 11.3%
2004 - 10.1%
2003 - 10.0%
2002 - 9.1%
2001 - 8.3%
2000 - 8.4%
1999 - 7.6%
1998 - 7.8%
1997 - 9.2%
1996 - 9.9%
1995 - 10.9%
1994 - 13.0%
1993 - 13.8%
1992 - 14.2%
China was growing a lot in the first years of the 1990s. The last half of the decade saw less grow because of the Asian financial crisis,
During the mid 2010s, China was again growing ove 10% every year. This boosted the world economy, for example, Latin America, because this region is an important provider of raw materials such as coal, oil and soy.
China was not seriously affected by the 2008-2009 financial crisis, or by the 2011 European debt crisis.
However, in recent years, the country has been growing less, probably because as it develops more, it tends to grow less. Same thing has happened to every developed country in the world. In fact, advanced economies like the United States or Germany rarely grow above the 2% rate per year.