Answer: 1. real GDP declined.
Explanation:
If labor productivity fell yet the workforce did not increase, that means that for Years 1 and 2, workers were producing less than they were producing before because the same number of people were producing.
This means that the amount of goods produced in the country would reduce and therefore GDP would reduce as well as GDP is the amount of goods and services produced in a country. If labor productivity had fallen yet the work-hours had increased, the increase in worker hours would have made up for the loss of labor productivity.
Answer:
The amount of Bad Debt Expense reported in 2019 was $16,100.
Explanation:
Our concern is mainly on the allowance for doubtful accounts. Based on the facts given in the question, the opening balance of the allowance account was $79,900 credit balance, while the closing balance was $96,000 credit. Since there were no write-offs or recoveries during 2019, the bad debt expense is simply the difference between the closing balance and the opening balance i.e, $96,000 - $79,900 = $16,100.
The journal entries will be:
Debit Bad debt expense $16,100
Credit Allowance for doubtful account $16,100
<em>(To record the bad debt expense for 2019) </em>
Answer:
a. $1,000 will be recognized as service revenue using the cash basis.
b. $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.
Explanation:
Given that as of the end of the year, Peaceful Home has collected $ 1,000 from cash-paying customers while Peaceful Home 's remaining customers owe the business $ 1,400.
Revenue to be recognized using;
$1,000 will be recognized as service revenue using the cash basis.
On accrual basis, revenue is recognized when the service has been provided irrespective of whether cash has been collected or not.
A total of $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.
Quality control is a system maintaining standards in manufacturing products by testing a sample of the output against the specification.
Quality control is used to meet or exceed customer requirements and is vital in the manufacturing part of businesses.
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Answer:
9.68%
Explanation:
yield to maturity (YTM) = {coupon + [(face value - market value) / n]} / [(face value + market value) / 2]
face value = $1,000
market value = $1,000 x 0.98 = $980
n = (13 - 2) x 2 = 22
coupon = $1,000 x 0.094 x 1/2 = $47
YTM = {$47 + [($1,000 - $980) / 22]} / [($1,000 + $980) / 2] = $47.9090 / $990 = 0.4839 x 2 (annual rate) = 0.09678 = 9.68%
