On December 31, 2020, Lemmon Company issued 20,000 shares of its common stock with a fair value of $50 per share for all of the
1 answer:
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Answer: $15,909.09
Explanation:
Nominal GDP is the value of goods and services that is calculated on the basis of current year prices whereas Real GDP is the value of goods and services that is determined on the basis of Base year prices. If we are using the identical price for both the years for calculating GDP then we can see the increment in the current year GDP from the last year. This means that the quantity of goods produced in the current year is larger than the last year. That's why it is important to use Real GDP rather than Nominal GDP.
Given that,
Nominal GDP (millions of dollars) = $14000
Price level (GDP deflator) = 88
Real GDP = 159.09 × 100
= $15,909.09
Hence, Real GDP = $15,909.09.
Therefore, Real GDP is greater than Nominal GDP hence we can say that the amount of good produced is worth more than $14,000.
Answer:
$1,004,000.
Explanation:
We have been given that Blake and Matthew are partners who agree that Blake will receive a $100,000 salary allowance and that any remaining income or loss will be shared equally.
Matthew’s capital account is credited for $2,000 as his share of the net income in a given period.
Since both partners will get equal part of remaining income or loss, so Blake will get $2,000 as his share of the net income.
Total net income for the period would be Blake's salary allowance plus amount shared in both persons of net income.
Therefore, the total net income of the partnership in that period would be $1,004,000.