Answer:
Option (c) is correct.
Explanation:
Depreciable value of machine:
= Cost of machine - salvage value
= $87,000 - $7,000
= $80,000
Depreciation of second year:
= ($80,000 ÷ 400,000) × 84500
= $16,900
Therefore, the journal entry is as follows:
Depreciation Expenses A/c Dr. $16,900
To accumulated depreciation $16,900
(To record the machines' second year depreciation)
Answer:
The amount of interest revenue is $ 3,996.
Explanation:
The Lease receivable at December 31,2021 is =79,100-12,500=66,600
Acording to the details The X Interest rate is 12% and The X Fraction of year is 6/12.
Hence, the calculation of The Interest revenue in December 31,2021 is =
=66,600×12%×6/12= $ 3,996 is the amount of interest revenue from the lease should smith co report in its dec 31 2021 income statment
Answer:
Debit Salaries Expense $400 and Credit Salaries payable $400.
Explanation:
Consider, we are told the company pays each of its <em>two</em> office employees, meaning, the 2 employees combine will earn $200 a day
.
Furthermore, we are told that even though the monthly accounting period ends on Tuesday the two employees work on Monday and Tuesday, meaning, the adjusting entry to record at the month-end will be a summation of the amount earned by the two employees on the two days. That is, = $200 × 2 days
<u> = $400 </u>(which is a salary expense).
Therefore, going by the rule of double-entry, we are obliged to debit salaries expense account and credit salaries payable account.
<h2>Plus changes in business inventories, plus purchases of new residential housing</h2>
Explanation:
Let us understand the term deeply what an "investment" is about.
- It is the amount of money spent on something which would yield a better returns"
- These are purchase of goods which may not be essential or not going to be used immediately but it is bought keeping future in mind
- Those are also called an "asset" which can be sold in future "for higher profit returns"
- This is action is done to "financially" be safe or protected
- There are different types of investment and should be carefully chosen based on the returns and risks associated with that.
Answer:
The correct answer is: increase; rise; more; lower; option d.
Explanation:
An expansionary monetary policy leads to an increase in the money supply. This further causes the demand for goods and services increase. A rightward shift in the aggregate demand curve causes the price level to rise.
At a higher price level, the firms will produce more goods and services. To increase output, they will need more inputs. As a result, the rate of unemployment will decrease.
We see that there is a trade-off between inflation and unemployment. At lower inflation, the rate of unemployment will be higher and vice versa.
