Answer:
Cash Dr 10975
To Sales $10,000
To Sales Tax Payable $975 ($10,000 × 9.75%)
(Being the cash is recorded)
Explanation:
The journal entry is shown below;
Cash Dr 10975
To Sales $10,000
To Sales Tax Payable $975 ($10,000 × 9.75%)
(Being the cash is recorded)
For recording this we debited the cash as it increased the assets and credited the sales and sales tax payable as it also increased the revenue and liabilities
Answer:
the correct answer is "Mobile Banking".
Explanation:
Mobile banking is doing banking and related financial activities such as money deposits, withdrawals, bill payments, issuing standing orders, checking the balance amount and opening/closing accounts through the internet and the mobile devices.
Mobile banking is more popularized through the launch of new applications in the iOS and Android platforms.
Mobile banking has made it easier for the customers to do banking related activities and it has made it easier for the banks to process more transactions without increasing their number of employees.
Answer:
Journal entries
Explanation:
Before passing the journal entries, first we have to determine the book value of truck which is
= Cost of delivery truck - accumulated depreciation
= $56,000 - $41,300
= $14,700
Now the journal entries are as follows
a. Cash Dr $14,700
Accumulate depreciation $41,300
To Delivery truck $56,000
(Being the disposal of the truck is recorded)
b) Cash Dr $16,400
Accumulate depreciation $41,300
To Delivery truck $56,000
To Gain on sale $1,700
(Being the disposal of the truck is recorded)
c) Cash Dr $12,900
Accumulate depreciation $41,300
Loss on sale $1,800
To Delivery truck $56,000
(Being the disposal of the truck is recorded)
Answer:
Part a: According to Solow model higher per capita real GDP will be in Chile because of its highest saving rate.
Part b: The per capita capital stock or the labour ratio is the primary factor for these differences in the simple Solow model.
Explanation:
<em>Part a:</em>
According to Solow model higher per capita real GDP will be in Chile because of its highest saving rate.
In Solow model the GDP per capita is defined as
Also the steady state path is given as
As all other parameters are same thus the country with higher value of s will have a higher per capita GDP.
According to the Solow model, higher saving rate means larger capital stock and high level of output at the steady state.
Higher saving rate leads to faster growth in Solow model. So there is higher per capita real GDP for the country that has higher saving rate.
<em>Part b:</em>
In Simple Solow Model, the steady state per Capita GDP, 
is the function of the steady state per capita capital stock given as 
Now this indicates that
where f is an increasing concave function i.e. f'>0 and f''<0
Thus the sole dependence of per capita GDP is on per capita capital stock.
Thus the per capita capital stock or the labour ratio is the primary factor for these differences in the simple Solow model.
Multifactor productivity is the ratio of all resources to the goods and services produced. It is also known as total factor productivity and is a measure of economic performance that compares the amount of goods and services produced to the amount of combined inputs used to produce those goods and services. The inputs may include labor, capital, energy, materials, and purchased services.
