The nation's nominal GDP does not take inflation into account. To solve this problem, we simply calculate the nation's nominal GDP in Year 4, ignoring the base prices. Keep in mind that if we were calculating real GDP, we would have to use the base year prices in our GDP calculation.
Year 4:
Computers: 17 x 2200 = 37,400
Televisions: 20 x 550 = 11,000 +
Total GDP =$48,400
Answer is C) 48,400
The answer is <u>"equity in a home that a debtor is permitted to retain".</u>
A homestead exemption shields the estimation of a home from property expenses and lenders following the demise of a mortgage holder life partner. A homestead exemption can be found in state resolutions and sacred arrangements over the U.S. also, is a programmed advantage in a few states. In states where the estate insurance isn't programmed, mortgage holders must document a case which must be re-recorded while moving main living places
Answer:
a) I used an excel spreadsheet to record the T-accounts
the closing entries would be:
Dr Sales revenue 12,100
Dr Purchase discounts 48
Dr Interest revenue 600
Dr Gain on sale of land 1,500
Cr Income summary 14,248
Dr Income summary 8,512
Cr Cost of goods sold 6,450
Cr Sales returns 1,680
Cr Sales discounts 242
Cr Distribution costs 140
Dr Income summary 5,736
Cr Retained earnings 5,736
b) Ross Company
Income Statement
For the year ended December 31, Year 2
Revenues:
-
Sales revenues $12,100
- Sales returns ($1,680)
- Sales discounts ($242) $10,178
Cost of goods sold <u>($6,450)</u>
Gross profit $3,728
Expenses:
-
Distribution costs ($140) <u>($140)</u>
Operating income $3,588
Other sources of income:
-
Gain on sale of land $1,500
- Interest revenue $600 <u>$2,100</u>
Net income before taxes $5,688
Answer:
look i don't care...
Explanation:
just joking i don't know that question
