Answer:
Entry is given below
Explanation:
Bought shares 6 months ago = 400shares x $60/share
Bought shares 6 months ago = $24,000
Sold shares = 400shares x $40/share
Sold shares = $16,000
Loss on sales proceeds = $24,000 - $16,000
Loss on sales proceeds = $8,000
Entry:
DEBIT CREDIT
Cash $16,000
Loss on sale $8,000
Shares $24,000
Answer:
Total Selling Expenses for the month of February is $241,000
Explanation:
Sales Commissions ($700,000 of sales x 5%) = $35,000
Sales Manager Salary = $96,000
Advertising expenses = $90,000
Shipping expenses = ($700,000 of sales x 2%) = 14,000
Miscellaneous selling expenses = ($2,500 + $700,000 x 1% x 0.5) = $6,000
Total Selling Expenses (Summation of all the calculated above working)= $241,000
In tradition based economy, it has its components, strong points and weakness. Their weakness could affect the people in different ways and in the following above is one of them. The correct answer would be number 2, it has great difficulty dealing with change, it is because this type of economy is accustomed with their traditions that when change kicks in, they would have problems because they are new and used to it.
Answer:
D) Recognized $8.91 million loss on the project in 2022.
Explanation:
The computation is shown below:
For Year 2021:
Percentage of work completed in the year 2021 is
= $40 ÷ ($40 + $84)× 100
= $40 ÷ $124 × 100
= 32.26%
Profit on the contract is
= Contract price - Already incurred cost - Expected cost
= $162 - $40 - $84
= $38
Profit to be recognized in the year 2016 is
= profit × percentage of completion
= $38 × 32.26%
= $12.256
For Year 2022:
Percentage of work completed in the year 2017 is
= ($40 + $65) ÷ ($40 + $65 + $52)
= $105 ÷ $157 × 100
= 66.88%
Profit on the contract is
= Contract price - Already incurred cost - Expected cost
= $162 - $40 - $65 - $52
= $5
Profit that should be recognized till the year 2017 is
= profit × percentage of completion
= $5 × 66.88%
= $3.344
Profit to be recognized in the year 2017 is
= $3.344 - $12.256
= 8.91 million loss
Answer:
Option C is correct.
Explanation:
The option is C, “Increase government spending on goods and services” is correct because the spending by the government will create new employment opportunities. Therefore, this will decrease unemployment. However, if the government decreases the loan funds in the economy, decreases the spending on goods and services, and rises the taxes then it will raise unemployment in the economy.
