Answer:
Debit Insurance Expense, $2,400; credit Prepaid Insurance, $2,400.
Explanation:
The journal entry is given below
Insurance expense A/c Dr $2,400
To Prepaid Insurance $2,400
(Being insurance expense is recorded)
The computation is shown below:
= Insurance premium ÷ number of months × required months
= $4,800 ÷ 4 months × 2 months
= $2,400 months
The 2 months is taken from November 1 to December 31
Answer:
The cost of goods sold for the year is $134,300
Explanation:
The cost of goods sold for the year = Beginning inventory + Merchandise Purchased - Ending inventory
Tuity Fruity Beverage Company's purchases $140 comma 700 and has beginning inventory 12 comma 600, ending inventory 19 comma 000.
Therefore:
The cost of goods sold for the year = $12,600 + $140,700 - $19,000 = $134,300
Answer:
The question is not complete,find below complete questions:
If you purchased a $50 face value bond in early 2017 at the then current interest rate of .10 percent per year, how much would the bond be worth in 2027? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. In 2027, instead of cashing the bond in for its then current value, you decide to hold the bond until it doubles in face value in 2037. What annual rate of return will you earn over the last 10 years?
The bond is worth $50.50 in the year 2027
The annual rate of return is 7.07%
Explanation:
The future value of the bond is given by the below formula:
FV=PV*(1+r)^N
where PV is the present of the bond of $50
r is the rate of return of 0.10 percent=0.001
N is the duration of the bond investment of 10 years
FV=50*(1+0.001
)^10
FV=$50.50
However for the face of the bond to double i.e to $100, the rate of return can be computed thus:
r=(FV/PV)^(1/N)-1
where FV=$100 (double of $50)
FV=$50.50(current value in 2027)
N=10
r=($100/$50.50)^(1/10)-1
r=0.070707543
r=7.07%
Answer:
The standardized metric of output used to gauge the size and market potential of an economy is the Gross Domestic Product.
Explanation:
The Gross Domestic Product is the value of goods and services that are
produced in a country in a certain time and it is consider an important indicator to analyze the state of a country's economy. The value of the goods and services produced is considered the size of the economy.
Also, as the GDP is an indicator of how the economy is doing, businesses tend to use it to predict if the sector will grow or not.
