Answer:
$214,000
Explanation:
Total Revenues ($740,000 + $103,000) =$843,000
−Total Operating costs ($570,000 + $59,000)
=$629,000
= Total operating profit = $214,000
Therefore Assuming that there are no changes to the existing body shop business, operating profits would be expected to increase during 2021 by $214,000
Answer:
Part (1) November 1
The amount paid is the rental advances and must be recorded as advances which falls under the current asset category:
Dr Rental Advances $90,000
Cr Bank account $90,000
Part (2) December 31
On this date, some of the rental advances paid would be realized as expenses from the period November 1, 20X1 to December 31, 20X2.
This time duration constitutes to 2 months and the rental advance made on November were for five months. Out of these 5 months, 2 months share must be recognized as expense which is
The relevant entry would be:
Dr Rental Expenses $36,000
Cr Rental Advances $36,000
Answer:
D) Income inequality should be minimized in a developed society.
Explanation:
Normative statements express value-based judgement on how a situation should be . In the instance aboce, it is the author's opinion that in developed society income inequality should be minimised.
Positive statements are more descriptive using facts to make statements. In the above Carla will get more excercise at the fair than at the movies is a fact-based statement.
Monetary policy is the best way to influence economic growth.
Appeared as a leader of the Chicago school of financial economics, Friedman burdened the importance of the quantity of cash as a device of government coverage and a determinant of enterprise cycles and inflation. His monetarism principle proposed that cash delivery modifications have immediate and long-term effects.
Milton Friedman became a U.S. economist and Nobel laureate known as the most influential propose of loose-marketplace capitalism and monetarism in the 20th century.
The monetarist principle is an monetary concept that contends that changes in cash deliver are the maximum good sized determinants of the charge of monetary increase and the behavior of the commercial enterprise cycle.
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