1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
shepuryov [24]
3 years ago
15

1) Which of these is a social goal of any economic system?

Business
1 answer:
vichka [17]3 years ago
7 0

<u>A social goal of any economic system:</u>

All economic systems' broad goals saw as key to the U.S. economy are soundness, security, economic freedom, equity, economic growth, efficiency, and full employment.

Accomplishing these objectives is troublesome in light of the fact that—despite the fact that the objectives supplement each other now and again—by and large, there are exchange offs to confront. To keep up a solid economy, the national government looks to achieve three approach objectives: stable costs, full business, and financial development.

Notwithstanding these three arrangement objectives, the central government has different destinations to keep up the sound financial strategy. Monetary objectives are not in every case commonly perfect; the expense of tending to a specific objective or set of objectives is having fewer assets to focus on the rest of the objectives.

You might be interested in
Leach Inc. experienced the following events for the first two years of its operations:
11111nata11111 [884]

Answer:

a.1) <u>year 1</u>

Issued $10,000 of common stock for cash.

Dr cash 10,000

    Cr common stock 10,000

Provided $78,000 of services on account.

Dr accounts receivable 78,000

    Cr service revenue 78,000

Provided $36,000 of services and received cash.

Dr cash 36,000

    Cr service revenue 36,000

Collected $69,000 cash from accounts receivable.

Dr cash 69,000

    Cr accounts receivable 69,000

Paid $38,000 of salaries expense for the year.

Dr wages expense 38,000

    Cr cash 38,000

Adjusted the accounting records to reflect uncollectible accounts expense for the year.  Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible.

Dr bad debt expense 450

    Cr accounts receivable 450

Closed the revenue account. Closed the expense account.

Dr service revenue 114,000

    Cr income summary 114,000

Dr income summary 38,450

    Cr wages expense 38,000

    Cr bad debt expense 450

Dr income summary 75,550

    Cr retained earnings 75,550

<h2>b.1) income statement year 1</h2>

Service revenue           $114,000

Expenses:

  • Wages $38,000
  • Bad debt $450    <u>($38,450)</u>

Net income                   $75,550

<h2>balance sheet year 1</h2>

Assets:

Cash $77,000

Accounts receivable $8,550

total assets                                           $85,550

Equity:

Common stock $10,000

Retained earnings $75,550

total equity                                            $85,550

<h2>statement of cash flows year 1</h2>

Cash flows form operating activities:

Net income                                      $75,550

adjustments:

Increase in accounts receivable     <u>($8,550)</u>

net cash from operating activities  $67,000

Cash flow from financing activities:

Common stocks issued                   <u>$10,000</u>

Net cash increase                           $77,000

beginning cash balance                <u>          $0</u>

Ending cash balance                      $87,000

a.2) <u>Year 2:</u>

Wrote off an uncollectible account for $650.

Dr bad debt expense 650

    Cr accounts receivable 650

Provided $88,000 of services on account.

Dr accounts receivable 88,000

    Cr service revenue 88,000

Provided $32,000 of services and collected cash.

Dr cash 32,000

    Cr service revenue 32,000

Collected $81,000 cash from accounts receivable.

Dr cash 81,000

    Cr accounts receivable 81,000

Paid $65,000 of salaries expense for the year.

Dr wages expense 65,000

    Cr cash 65,000

Adjusted the accounts to reflect uncollectible accounts expense for the year.  Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible.

Dr bad debt expense 745

    Cr accounts receivable 745

<h2>b.2) income statement year 2</h2>

Service revenue             $120,000

Expenses:

  • Wages $65,000
  • Bad debt $1,395    <u>($38,450)</u>

Net income                      $53,605

<h2>balance sheet year 2</h2>

Assets:

Cash $125,000

Accounts receivable $14,155

total assets                                           $139,155

Equity:

Common stock $10,000

Retained earnings $129,155

total equity                                            $139,155

<h2>statement of cash flows year 2</h2>

Cash flows form operating activities:

Net income                                      $53,605

adjustments:

Increase in accounts receivable     <u>($5,605)</u>

net cash from operating activities  $48,000

Net cash increase                           $48,000

beginning cash balance                <u> $77,000</u>

Ending cash balance                    $125,000

c) net realizable value of accounts receivable at year 1 = $8,550

net realizable value of accounts receivable at year 2 = $14,155

7 0
3 years ago
How are you im good mySelf
vladimir1956 [14]

Answer:

i'm very fine

Explanation:

5 0
3 years ago
Palmer Products has outstanding bonds with an annual 8 percent coupon. The bonds have a par value of $1,000 and a price of $865.
Andre45 [30]

The yield to maturity on the bonds is 10.0868%

<u>Explanation</u>:

Given,

Annual coupon rate = 8% = 0.08

Par value = $ 1000

Price = $ 865

                               N = 11 \times 1 .

                            PV = $ 865

                         PMT = ( Par Value \times The coupon rate) / F

                                 = ( 1000 \times 0.08 ) / 1

                                 = 80.

                           FV = 1000.

Financial calculator solution

the yield to maturity = I = 0.1008668

                                      = 10.0868% .

6 0
3 years ago
The decision situations wherein the decision-maker chooses to consider several possible outcomes and the probabilities of their
RUDIKE [14]

Answer: The correct answer is "a. decisions under risk.".

Explanation: The decision situations wherein the decision-maker chooses to consider several possible outcomes and the probabilities of their occurrence can be stated are called <u>decisions under risk.</u>

Decision-making under risk is one of the three possible decision-making scenarios based on the available information, this scenario presents an intermediate situation between decision-making under certainty or under uncertainty: each alternative, strategy or course of action has several possible consequences, but the person in charge of making the decision knows the probability of each of them.

5 0
3 years ago
What are Financial Statements??​
kiruha [24]

Answer:

Financial statements are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand.

Explanation:

Hope this helps

7 0
2 years ago
Read 2 more answers
Other questions:
  • Joyce just closed on a condo for $366,900 and put down 20% to obtain an 80% loan and avoid having to pay for private mortgage in
    12·1 answer
  • A buyer who needs a significant amount of trust with the seller is looking for a(n) _____. transactional relationship strategic
    12·1 answer
  • What is a reason why someone would use a secured credit card?
    8·1 answer
  • Lifecycle Motorcycle Company is expected to pay a dividend in year 1 of $2, a dividend in year 2 of $3, and a dividend in year 3
    10·1 answer
  • A period of economic stability began in the 1980s. In 2001, prices began to increase. In 2007, an economic crisis caused prices
    8·2 answers
  • The units of an item available for sale during the year were as follows: Jan. 1 Inventory 20 units at $360 $ 7,200 Aug. 13 Purch
    7·1 answer
  • The _____ is the most ambitious global trade agreement ever negotiated; the agreement has reduced tariffs by one-third worldwide
    13·1 answer
  • Suppose a firm incurred explicit costs of $900 and implicit costs of $200 during a day. If that day the firm sold 8 units at $30
    9·1 answer
  • Explain why, for income tax purposes, management of Dorsey Co. would want as little of the purchase price as possible allocated
    9·1 answer
  • Which inventory method results in the highest net income during periods of falling prices?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!