Answer:
Annual Income is calculated by multiplying the Hourly wage by 4,000 hours.
The Difference between annual wage and federal poverty line is calculated by deducting the 2019 Poverty threshold of $13,011 from the Annual Income.
The Difference between annual wage and median household income is calculated by deducting the 2019 Median household income of $68,703 from the Annual income. Negative balances are highlighted.
Answer:
Nominal GDP in 2014 was $1000
Nominal GDP in 2015 was $1665
Nominal GDP in 2016 was $2500
Explanation:
Nominal GDP is the market value of goods and services produced in an economy, un-adjusted for inflation.
NGDP= Q x P
Where
Q= quantity
P= price
Nominal GDP in 2014
NGDP(2014)=$4x 100+ $5 x120
NGDP(2014)=$1000
Nominal GDP in 2015
NGDP(2015)= $4.50x 150+ $5.50x 180
NGDP(2015)=$1665
Nominal GDP in 2016
NGDP(2016)= $5x 200 +$6.00x 250
NGDP(2016)= $2500
Answer:
Debit account receivable $2.4 million; Credit Ticket Revenue $2.4 million
Explanation:
Double entry is when a business records a debit and credit in relation to a transaction. Generally you debit the receiver and credit the giver.
In this instance sales of tickets were made by Denver Broncos of $2.4 million worth.
The sale involves receipt of cash, but it is preseason and customers have not yet received service so we debit accounts receivable for $2.4 million.
Revenue is made from the sale so we credit Ticket Revenue to recognise income made.
Ok this is for me this might not be the same for you. I use Bank of America and when I opened mine I needed to make a minimum deposit of $25. Again this was for me I dont know if this is the same for everyone or every bank.
Have a nice day user!
Answer: The average collection period of the receivables in terms of days was 73 days.
Explanation:
Given that,
Accounts Receivable at the beginning of the year = $390,000
Accounts Receivable at the end of the year = $410,000
Net credit sales during the year = $2,000,000
Average collection period of the receivables in terms of days:
Average accounts receivables = 
= 4,00,000
Net credit sales = 
= 5
∴ Accounts receivable days = 
= 73 days
The average collection period of the receivables in terms of days was 73 days.
