Answer:
Aug. 1 Cash 37,800
Common Stock 37,800 (Investment of cash for stock)
Dr.Cash 37,800
Cr. Common stock 37,800
10 Cash 17,010
Service Revenue 17,010 (Received cash for services performed)
Dr. Cash 17010
Cr. Service Revenue 17010
12 Equipment 31,500
Cash 5,040
Notes Payable 26,460 (Purchased office equipment for cash and notes payable)
Dr. Office Equipment 31500
Cr. Cash 5040
Cr. Account Payable 26460
25 Account Receivable 10,080
Service Revenue 10,080 (Billed clients for services performed)
Dr. Account Receivable 10080
Cr. Sales 10080
31 Cash 5,544
Accounts Receivable 5,544 (Receipt of cash on account)
Dr. Cash 5544
Cr. Account Receivable 5544
T account are prepared in the attached MS Excel File, Please find that.
False. When dealing with group conflict, a manager should try to increase the ratio of relationship to substantive conflict. When dealing with a group conflict, the manager should work in different ways to make sure that each person is treated the same and try to resolve the conflict with them instead of potentially creating more conflict if they add more conflict to the problem.
Answer:
B. $36 billion
Explanation:
Since we were asked to calculate Wages. We can't use the Expenditure method of GDP. Method to be used would be the Income approach. In doing so, the values of export and import would be excluded. Therefore,
Given that
GDP = 65 billion
Profits = 7 billion
Rent = 7 billion
Interest payments = 15 billion
Recall that,
GDP = sum of income earned (profits, wages, rents, interests)
Thus,
Wages = GDP - Profits + rents + interests
= 65 - (15 + 7 + 7)
= 65 - 29
= 36 billion
Hence, wages during 2011 was $36 BILLION.
Note: Parameters used are based on the information in the question. It is important to note that income earned when using income approach could be more than the 4 stated parameters of wages, rent, profits and interests.
