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maksim [4K]
3 years ago
9

The monthly bank statement has to be compared with the:

Business
1 answer:
BlackZzzverrR [31]3 years ago
4 0
Checkbook
computer software

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In a closed​ economy, the values for​ GDP, consumption​ spending, investment​ spending, transfer​ payments, and taxes are as​ fo
Oliga [24]

Answer: Option (C) is correct.

Explanation:

National Savings is divided into two parts, private savings and public savings.

Private Savings = GDP - Taxes + Transfer payments - Consumption Spending

                         = Y - T + TR - C

                         = 12 - 3 + 2 - 9

                          = $ 2 trillion

Public Savings  = Taxes - Government Spending - Transfer payments

                           = 3 - 0 - 2

                           = $1 trillion

∴ Option (C) is correct.  

Private saving = ​$2 trillion and public saving = ​$1 trillion.

3 0
3 years ago
Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. T
Margaret [11]

Answer:

<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>

1. Gross accounts Receivable = Allowance Account balance at beginning / 10%

= $30,000 / 10%

= $300,000

2.     Year   Account Title                              Debit     Credit

       2021  Bad debt expense                   $105,000

                  ($500,000*10% + $55,000)  

                         To Allowance for Doubtful Accounts   $105,000

3.  Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account

= $30,000 - (- $50,000)

= $30,000 + $50,000

= $80,000

4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000

4 0
3 years ago
Under the Equal Pay Act:
Kitty [74]

Answer: Under the Equal Pay Act: <u>"d. Wage differentials based on a seniority system are allowed.".</u>

Explanation: The Equal Pay Act states that no employer should discriminate based on sex when paying wages for equal work in jobs But that wage differences can be established according to an seniority system (is allowed).

3 0
3 years ago
In all cases, positive economics deals with
AURORKA [14]
The field of economics is so vast and broad that it is often classified into branches and one of which are the positive and normative economics. Positive economics usually refers to the process and methods of explaining a certain economic phenomenon in which it establishes common relationships among variables present.
6 0
3 years ago
Is disease prevention by the government a pure public good or a private good? Explain
Lynna [10]
Public good are non-rivalry and non-excludable goods. People can benefit these goods without affecting and reducing its availability to others. Disease prevention by the government is purely public good since it is important to every individual and each person must not have any limitations in receiving these kind of prevention.
4 0
3 years ago
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