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Darina [25.2K]
3 years ago
13

Tony decides to hold the company’s first adventure race on December 15. Four-person teams will race from checkpoint to checkpoin

t using a combination of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team is $550. Record the appropriate journal entry.
Business
1 answer:
coldgirl [10]3 years ago
7 0

Answer:

Dr. Cash                             $2,200

Cr. Unearned revenue     $2,200

Explanation:

As the entry fee for the the racing event is received in advance. The event is on December 15 and the entry fee is received earlier to decide the participants of the race. This receipt is not considered as the revenue income until the event held and race is over. The unearned revenue is considered as the liability and recorded in unearned revenue account as action from the tony side is due. as Tony completes action which is the racing event, the revenue will be recorded.

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Answer:

Answer for the question:

Assume that the hypothetical economy of Molpol has 8 workers in year 1, each working 1,200 hours per year (40 weeks at 30 hours per week). The total input of labor is 9,600 hours. Productivity (average real output per hour of work) is $10 per worker

Instructions: In parts a and b, round your answers to the nearest whole number. In part c, round your answer to 2 decimal places.

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b. In year 2, what will be Molpol's real GDP?

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Is given in the attachment.

Explanation:

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Data provided as per the question

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