received a cheque from Karim,being full settlement of the amount owing after allowing him a cash discount of 5%

In three to four sentences, mention two factors that are not included in real GDP per capita but are included in another standar

anzhelika [568]

<span>GDP per capita is not a good measure of the standard of living because there is no attention paid to the price level in GDP per capita. For example, your GDP could be really high such as in places like Japan(largest economy in the world at the moment) so their GDP per capita is high. However, their cost of living is also very high(due to lack of land area) leading to a low standard of living.</span>

3 0

4 years ago

Timmons Company traded machinery with a book value of $360,000 and a fair value of $600,000. It received in exchange from Lewis

Yanka [14]

Answer:

amount of gain recognize is $24000

Explanation:

Given data

Timmons book value = $360,000

Timmons fair value = $600,000

Lewis fair value = $540,000

Lewis book value = $570,000

cash = $60,000

to find out

amount of gain recognize

solution

we know that here that cash is receive in exchange

so no commercial substance but gain is recognize

so we find gain that is

gain = fair value - book value

gain = 600000 - 360000

so gain is $240000

and

we say cash % for fair value is

cash % for fair value = cash / fair value

cash % = 60000 / 600000

cash% is 10% for fair value

so that here recognized gain recognize is given as

gain recognize = gain × cash %

gain recognize = 240000 × 10%

gain recognize = 24000

so amount of gain recognize is $24000

7 0

4 years ago

Brown Corporation uses a job-order costing system with a single plant-wide predetermined overhead rate based on machine-hours. T

asambeis [7]

Answer:

See below

Explanation:

With regards to the above, first we need to compute the fixed manufacturing overhead.

Fixed manufacturing overhead

= Total fixed manufacturing overhead ÷ Total machine hours

= $344,000 ÷ 40,000

= $8.6 per machine hour

Calculation of overhead applied to Job M759

Variable manufacturing overhead

= 60 machine hours × $3.9

= $234

Fixed manufacturing overhead

= 60 machine hours × $8.6

= $516

Therefore, total overhead applied to job M759 is $750

8 0

3 years ago

chapter 13Identify the type of cash flow activity for each of the following events (operating, investing, or financing). The com

maxonik [38]

Answer:

a. Net income - Operating

b. Paid cash dividends - Financing

c. Issued common stock - Financing

d. Issued bonds - Financing

e. Redeemed bonds - Financing

f. Sold long-term investments - Investing

g. Purchased treasury stock - Financing

h. Sold equipment - Investing

i. Issued preferred stock - Financing

j. Purchased buildings - Investing

k. Purchased patents - Investing

Explanation

The statement of cash flows is basically made up of three sections: operating, financing and investing activity.

Statement of cash flows, using indirect method is simply a statement that records the cash inflows and outflows after adjusting for non-cash items.

Operating activities comprise the adjustment of non-cash items that were already added or subtracted from the net income in preparing the income statement in line with accrual accounting. Then, it records the movement in current assets and liabilities.
The Financing section comprises those activities that are geared towards improving the capital structure of the company like issuance of stocks, cash dividend payment, etc.
Finally, the Investing activities are those activities involving purchase of equipment or any other assets that would be used in the course of the business to generate revenue.

8 0

3 years ago

Your local minister has spoken to you about his retirement plans. Which account would he probably be discussing?

Gala2k [10]

401(k) plans<span> which are offered by for-profit companies, 403(b) plans are only available to employees of tax-exempt organizations. These are usually either schools, hospitals or religious groups. The names simply refer to the section of the tax code that outlines these plans. So Hopefully, He may go with 401k</span>

4 0

3 years ago

received a cheque from Karim,being full settlement of the amount owing after allowing him a cash discount of 5%​

received a cheque from Karim,being full settlement of the amount owing after allowing him a cash discount of 5%