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Sunny_sXe [5.5K]
3 years ago
7

The government of Wrexington, a country which has adopted American GDP accounting conventions, reported that GDP in quarter 3 wa

s $12 billion at an annual rate. This means that the market value of all final goods and services produced within Wrexington in quarter 3 was
A.$3 billion.
B.$4 billion.
C. $12 billion.
D. $48 billion.
Business
1 answer:
yanalaym [24]3 years ago
3 0

Answer:

C. $12 billion.

Explanation:

GDP refers to the Gross domestic product. It means that the market value of all final goods and services produced within the country.

Since in the question the GDP reported in quarter 3 was $12 billion and the same is to be considered as a GDP because it reflected the market value of all final goods and services

Therefore, the correct option is c.

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On August 1, a $42,000, 7%, 3-year installment note payable is issued by a company. The note requires equal payments of principa
Anvisha [2.4K]

Answer:

b. $16,004.17

Explanation:

The bond pays annual interest of 7% over the 3 years. The annuity factor at 7% for 3 years is 2.6243. The amount of bond is divided by annuity factor to calculate the annual payment of bond. The payment includes bond principal repayment and interest payment. The first payment on July 31 will be for $16,004.17.

8 0
3 years ago
On January 1, 2021, Blair Company sold $800,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December
Anika [276]

Answer:

$42,480

Explanation:

Given that,

Value of bonds = $800,000

Interest rate = 10%

Selling price of bond (Book value) = $708,000

Priced to yield = 12%

The semi-annual yield is calculated as follows:

= 12% / 2 (because the interest is payable semiannually on June 30 and December 31)

= 6%

Therefore, the semi-annual bond interest expense:

= Selling price of bond × semi-annual yield

= $708,000 × 6%

= $42,480

Hence, the Blair should report bond interest expense for the six months ended June 30, 2021 in the amount of $42,480.

But the actual cash paid for the interest expense will be:

= (Value of bonds × Interest rate on bonds)

= [$800,000 × (10%/2)]

= $800,000 × 5%

= $40,000

So, the amortization for bond discount is the difference between actual cash paid and bond interest expense:

= $42,480 - $40,000

= $2,480

7 0
4 years ago
By the time you turn 30 years old, what insurance do you expect to have?
WINSTONCH [101]

honestly you would need all of them because they are very important to have as you get older

5 0
3 years ago
Read 2 more answers
Your payment of $123005.12 was received on June 3 2006 by our offices in Macon Georgia. Your payment of $123,005.12 was received
Stella [2.4K]

Answer:

Your payment of $123,005.12 was received on June 3, 2006, by our offices in Macon, Georgia.

Explanation:

Period are placed between the digits of written Numbers or figures use to separate different places like thousands, millions etc. starting leftward from the decimal point Just like $123,005.12. While for a three-part date, commas are placed between   the date with month and year . It will be June 3, 2006. The name of a place which mention the city and country require a comma between the city name and country name like Macon, Georgia.

The correct punctuated statement is " Your payment of $123,005.12 was received on June 3, 2006, by our offices in Macon, Georgia."

Corrections are

Your payment of $123005.12 was received on June 3 2006 by our offices in Macon Georgia.

No commas have been used in Figures, date and Place name.

Your payment of $123005.12 was received on June 3 2006, by our offices in Macon, Georgia.

The Periods in figure are missing, it should be as $123,005.12

Your payment of $123,005.12 was received on June 3, 2006 by our offices in Macon Georgia.

The commas to separate the places name is missing, it should be Macon, Georgia.

4 0
3 years ago
Starr Corporation loaned $600,000 to another corporation on December 1, 2020 and, in exchange, received a 3-month, 8% interest-b
prisoha [69]

Answer:

                          Adjusting entry

Date    Account Title                      Debit        Credit

           Interest receivables           $4,000

           ($600,000*8%*1/12)

                   Interest revenue                            $4,000

           (To record accrued interest on note)

3 0
3 years ago
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