Answer:
Letter B, <u>false</u>.
Explanation:
An intermodal shipment occurs when more than one means of transport is used for the same shipment, which means that two or more means of transport may be used depending on the need of the company.
In the case of the question only one means of transport was used, which is configured as a unimodal shipment.
Answer and Explanation:
The journal entry required to close the expense account is given below:
Income summary Dr $33,520
To Wages Expense $19,000
To Depreciation Expense $1,800
To Utilities Expense $320
To Insurance Expense $700
To Maintenance Expense $9,000
To Income Tax Expense $2,700
(being the expenses accounts are closed)
The view that anticipated changes in the money supply will have no effect on the economy's output would most likely be a proposition of <u>quantity theory</u>.
In monetary economics, the quantity theory of money (regularly abbreviated as TQM) is one of the directions of Western monetary concepts that emerged within the sixteenth-17th centuries.
The TQM states that the general price degree of goods and offerings is at once proportional to the amount of money in the stream, or money delivers. As an example, if the amount of cash in an economy doubles, TQM predicts that fee ranges will also double.
The principle turned into firstly formulated via Renaissance mathematician Nicolaus Copernicus in 1517, and become influentially restated by means of philosophers John Locke, David Hume, and Jean Bodin. The idea experienced a massive surge in popularity with economists Anna Schwartz and Milton Friedman's book A monetary history of the US, posted in 1963.
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Answer:
$24,000 gain
Explanation:
Dr Cash 3,120,000
Cr Bonds payable 3,000,000
Cr Premium on bonds payable 120,000
premium amortization per coupon = $120,000 / 20 periods = $6,000
a total of 11 coupons were paid = $6,000 x 11 = $66,000
carrying value of the bonds = $3,054,000
gain/loss on retirement of bonds = carrying value - retirement value = $3,054,000 - $3,030,000 = $24,000 gain