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2 years ago

Ethiopia has a GDP of $8 billion (measured in U.S. dollars) and a population of 55 million.

Business

1 answer:

Anarel [89]2 years ago

4 0

Answer:

Ethiopia = $146; Costa Rica = $2,250

Explanation:

The GDP per person, also known as GDP per capita is a very simple formula:

GDP Per Capita = Country's GDP / Country's Population

A) Ethiopia GDP Per Capita = $8,000,000,000 / 55,000,000

= $146

B) Costa Rica GDP Per Capita = $9,000,000,000 / 4,000,000

= $2,250

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Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $15,000 (original cost of $34,000 l

Vesnalui [34]

Answer:

a. Gain on sale of land = $230,000

b. Loss on the exchange of the tractor = $5,400

c-1. Gain on Exchange of the tractor = $5,000

c-2. Initial value of new tractor = $35,600

Explanation:

a. What is the amount of gain or loss that Kapono would recognize on the exchange of the land?

This can be determined as follows:

Details Amount $

Fair value of land 760,000

Book value of land (530,000)

Gain (loss) on sale of land 230,000

b. What is the amount of gain or loss that Kapono would recognize on the exchange of the tractor?

This can be determined as follows:

Details Amount $

Original Cost of Tractor 34,000

Accumulated Depreciation (19,000)

Book Value of Tractor 15,000

Therefore, we have:

Loss on Exchange of the tractor = Fair value - Book Value of Tractor = $9,600 - $15,000 = $5,400

c. Assume the fair value of the old tractor is $20,000 instead of $9,600. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor?

c-1. Calculation of the amount of gain or loss that Kapono would recognize on the exchange

From part b, we have:

Book Value of Tractor = $15,000

And, we have:

Fair Value = $20,000

Therefore, we have:

Gain on Exchange of the tractor = Fair value - Book Value of Tractor = $20,000 - $15,000 = $5,000

c-2. Calculation of the initial value of the new tractor

This can be determined as follows:

Initial value of new tractor = Fair Value of tractor given + Cash paid = $9,600 + $26,000 = $35,600

8 0

2 years ago

Ravi wants to be his own boss and run his own business. His friend, Josh, suggested that an inexpensive way to get started is to

sladkih [1.3K]

Answer:

This is false. buying a franchise is expensive, as it involves buying the rights of a business from the business owners, who are commonly referred to as ''franchisiors".

Explanation:

Ravi would not be able to run the franchise business the way he wants as the Franchisiors determines the business model and procedures. Hence, he would have a limited control on the business. Thus, I would advise Ravi to avoid going into a Franchise business, if his motive is to be his own boss and have control on his business.

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2 years ago

Explain the importance of making ethical decisions when dealing with

aleksley [76]

Answer:

Ethical decisions when dealing with businesses and institutions.

It is important in many aspects:

1. Judicial aspects: If you take unethical decision, you have to be responsible for the risk of future audits that might discover your unethical behavior and would have to afront charges.

2. Reputational Aspects: In the long run much of your trust is at stake as you might become a felon and would have to work really hard to change that view of yourself within a community.

3. Personal well being: At the end is very important to have peace of mind.

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2 years ago

Freeze Corporation uses the lower of cost or net realizable value method to write down inventory. Freeze determines that the inv

erica [24]

Answer:

The journal entry to record the write down is:

Dr Cost of goods sold 1,000

Cr Inventory 1,000

Since cost of goods sold increases, then net income (income statement) will decrease. A decrease in net income will also result in lower retained earnings (balance sheet).

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2 years ago

Which statement is not true about the minimum wage?

notsponge [240]

Answer:C

Explanation: regardless if they are foreigners or not they are still required to get paid minimum wage.

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2 years ago

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