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ExtremeBDS [4]
3 years ago
13

Sean and Yvette Durand live in Swarthmore, PA. Their son, Bob, owns his own plumbing business.

Business
1 answer:
vazorg [7]3 years ago
6 0

Answer:

GDP(Gross Domestic Product) is the final value of goods and services produced within the boundaries of the country in a year.

The formula is as under

GDP= C+I+G+(X-M)

Where

C= consumption

I= Investment

G= Government Expenditure

X= exports

M= Imports

Scenario 1:

Sean buys a bottle of Italian wine

Answer:

In order calculate GDP of US Sean bought an Italian wine. The wine is not of US origin. It is classified as an import. Will be deducted from US GDP under the head of imports

Scenario 2:

Yvette gets a new refrigerator made in the United states

Answer:

GDP includes the final value of the goods and services produced in the country in a year.

Yvette bought a new refrigerator it is part of the C(consumption) section of the GDP. Hence it will be part of US GDP.

Scenario 3:

Sean's employer upgrades all of its computer systems using U.S. made parts.

Answer:

The employer has upgraded the computer system using  made in US parts.

It is an investment and will form part of the investment (I) section of the US GDP calculation.

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A long term care facility purchases at least 85% of its food and supplies from one distributor. this is an example of which type
Digiron [165]

<span>This long term care facility purchases at least 85% of its food and supplies from one distributor and it’s an example of prime vending. A prime vending is a type of purchasing that has gained acceptance and popularity among restaurant and non-commercial buyers. It is also a service which people or the workers do.</span>

8 0
3 years ago
Hardin Company received $120,000 in cash and a used computer with a fair value of $360,000 from Page Corporation for Hardin Comp
san4es73 [151]

Answer:

$30,000 and $360,000

Explanation:

The computation of the gain on the exchange is shown below:

= Cash received + fair value of the computer  -  undepreciated cost of existing computer

= $120,000 + $360,000 - $450,000

= $30,000

The amount of the computer which is recorded will equal to the fair value of the computer i.e $360,000

For computing the gain we simply added the fair value and deduct the undepreciated cost of an existing computer in the cash received amount so that the accurate amount can come.  

All other information which is given is not relevant. Hence, ignored it

3 0
3 years ago
An agreement between two adults to pay $300 cash for a bicycle is an example of a contract that is
SIZIF [17.4K]
The answer is a valid contract. A valid contract occurs when both parties has expressed or had shown agreement when engaging to certain services or products as means of showing that they both have negotiate and came to an understanding of agreement with what they are pertaining to in which is shown above as the adults involved has an agreement of paying the bicycle that shows a valid contract.

5 0
3 years ago
The December 31, 2020, Allowance account balance includes $3,076 for a past due account that is not likely to be collected. This
Blizzard [7]

Answer:

There will be no effect on working capital upon write off as the entries required would be a credit to receivables and a debit to allowance account.

Explanation:

The allowance account is the account used to record receivables due that may not be collectible.

When a company has determined that a receivable may be uncollectible, the company credits the allowance for receivables account and debits bad debit expense. This reduces the accounts receivable balance in the balance sheet as the receivables to be reported will be net the allowance given. As such, where on December 31, 2020, Allowance account balance includes $3,076 for a past due account that is not likely to be collected.

There will be no effect on working capital upon write off as the entries required would be a credit to receivables and a debit to allowance account.

8 0
3 years ago
Benson Company produces flash drives for computers which have variable costs of $10 per flash drive to produce. Each flash drive
Leno4ka [110]

Answer:

It increases by 50 units.

Explanation:

Current break even point = \frac{Fixed\:Cost}{Contribution\:per\:unit}

Here, fixed cost = $4,500

Contribution per unit = Selling price - Variable Cost = $20 - $10 = $10

Current break even point = \frac{4,500}{10} = 450 units

If variable cost increase by 10% then revised variable cost = $10 + 10% = $11

Contribution per unit = $20 - $11 = $9 per unit

Break even sales in units = \frac{4,500}{9} = 500 units

Difference in original and revised break even = Revised - Original = 500 - 450 units = 50 units,

Thus original break even increases by 50 units, = 50/450 = 11.11% increase.

Final Answer

It increases by 50 units.

6 0
3 years ago
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