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Bess [88]
3 years ago
8

1960 the per capita GDP of Hong Kong was substantially less than that of Argentina and Venezuela. By 2005, the per capita income

of Hong Kong was more than three times the figures for Venezuela and Argentina. This dramatic change occurred because Group of answer choices
Business
1 answer:
GenaCL600 [577]3 years ago
8 0

Answer:

Hong Kong's economy was able to sustainably grow at very high rates during a long period of time. This means that Hong Kong's GDP per capita will constantly grow, so even if it started at a very low level it eventually grow to much higher levels.

Meanwhile, in Argentina and Venezuela, the economic growth rate was very small, sometimes even negative. Their GDP per capita may have been much higher than Hong Kong's 50 years ago, but since it stagnated for so long, it didn't grow that much.

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TB MC Qu. 3-209 Chavez Corporation reported the ... Chavez Corporation reported the following data for the month of July: Invent
ss7ja [257]

Answer:

The cost of goods manufactured for July is $ 232,000

Explanation:

<u>Raw Materials Inventories Utilized In Production</u>

Beginning Raw materials        $ 41,000

<em>Add</em> Purchases                        $ 73,000

Less Ending  Raw materials   ($ 37,000)

Used in Production                  $ 77,000

<u>Cost of goods manufactured</u>

Raw Materials                              $ 77,000

Direct labor cost                          $ 98,000

Manufacturing overhead            $ 65,000

Total Cost of Manufacturing     $ 240,000

<em>Add </em>Opening Work in process  $ 23,000

<em>Less</em> Ending Work in process    ($ 31,000)

Cost of goods manufactured   $ 232,000

Not that Manufacturing overhead are included to the amount Applied in the Manufacturing Cost

5 0
3 years ago
Presented below are selected account balances for Tamarisk Co. as of December 31, 2020.
Svetradugi [14.3K]

Answer and Explanation:

The closing entries for the following accounts are presented below:

1. Sales Revenue A/c Dr $408,750

        To Income Summary $408,750

(Being revenue account closed)

2. Income summary A/c Dr $323,830

      To Cost of Goods Sold          $229,017

      To Sales Returns and Allowances $11,908

      To  Sales Discounts                        $15,070

      To Selling Expenses                       $16,133

      To Administrative Expenses          $37,525

      To Income Tax Expense                 $30,300

(Being expenses accounts are closed)

3. Income summary A/c Dr $84,930 ( $408,750 - $323,830)

       To Retained earning $84,930

(Being the difference is credited to retained earning)

4. Retained earnings A/c Dr $17,873

         To Dividend A/c $17,873

(Being dividend account is closed)

7 0
3 years ago
What is the difference between legitimate and illegitimate compulsion for enrique dussel? Does he consider both to be violence?
KATRIN_1 [288]

Dussel does not consider legitimate compulsion to be malicious, on the other hand he considers illegitimate compulsion.

4 0
3 years ago
Moonbeam Company manufactures toasters. For the first 8 months of 2020, the company reported the following operating results whi
Lelu [443]

Answer:

Moonbeam Company

a) Incremental analysis for the special order:

Sales revenue ($7.87 * 20,800) =   $163,696

Variable costs ($6.62 * 20,800) =    (137,696)

Contribution margin =                        26,000

Shipping costs                                     (2,900)

Net income from special order =     $23,100

b) Moonbeam should accept the special order.  It generates some net income for covering the company's fixed cost and does not exceed the company's plant capacity.  It only adds about 4% to the operating plant capacity.

Explanation:

a) Data and Calculations:

                                        Total               Variable        Fixed

Sales (375,200 units)  $4,378,000  

Cost of goods sold        2,588,880      1,812,216       776,664

Gross profit                     1,789,120

Operating expenses        839,510        671,608        167,902

Net income                    $949,610

Total costs                                       $2,483,824    $944,566

Selling price = $11.67 ($4,378,000/375,200)

Variable costs per unit = $6.62 ($2,483,824/375,200)

Total plant capacity = 500,267 units (375,200/75%)

Increase in plant capacity = 396,000 (375,200 + 20,800)

6 0
3 years ago
Type the correct answer in the box. Spell all words correctly. In which book of accounts do businesses record their daily financ
Marysya12 [62]

Answer:

Journal.

Explanation:

Businesses record their daily financial transactions in a journal, also known as the businessperson's diary.

A journal entry involves the process of keeping the records of business transactions made by an organization.

The journal entry is used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.

In Accounting, most businesses use a double-entry account system and as such, the total amount debited must equal the total amount credited in a journal entry.

6 0
3 years ago
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