Governments would decrease government expenditures to fight an inflationary gap and due to this change in G, the budget balance (BB) would reduce.
<h3>What is budget?</h3>
It should be noted that a budget simply shows the revenue and expenditure for a period of time.
In this case, governments would decrease government expenditures to fight an inflationary gap and due to this change in G, the budget balance would reduce.
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Answer:
1 Line item description Cost Retail
2 Beginning inventory 40000 360000
3 Purchases 1000000 10000000
4 Transportation in 50000
5 Purchase returns -20000 -196000
6 Net purchases(3+4+5) 1030000 9804000
7 Net additional markups 800000
8 Cost to retail ratio 1070000 10964000
component(2+6+7)
9 Net markdowns -500000
10 Sales -9800000
11 Ending inventory,retail(8+9+10) 664000
Setup calculation:
Cost to retail ratio = Cost to retail ratio component at cost/Cost to retail ratio component at retail
= 1070000/10964000
= 0.097592
= 9.76%
Ending inventory,cost = Ending inventory,retail*Cost to retail ratio
= 664000*9.76%
= $64806
Cost of goods sold = Sales*Cost to retail ratio
= 9800000*9.76%
= $956480
Answer: Proposal Solicitation Step
Explanation: There are Eight (8) stages in organizational buying process, and they inculde:
1. Problem recognition
2. Need description
3. Product Specification
4. Supplier search
5. Proposal Solicitation
6. Supplier selection
7. Order
8. Performance review.
The Proposal solicitation step is were selected potential suppliers will be asked to submit a proposal which will include catalogs and other documents that will give them a better advantage than others for review by the selecting company.
Answer:
Assets = Liabilities + Owner’s Equity (Capital – Drawing + Revenues – Expenses) = $17,017
Explanation:
Note: See the attached xlsx file for the effect of each transaction on the individual accounts of the expanded accounting equation and the report of the total of each element.
In the attached xlsx file, transaction (c) is treated in such a way that the insurance for the month of October 20—is accounted for under the following:
Prepaid Insurance = One-year insurance premium - (One-year insurance premium / Number of months in a year) = $1,000 - ($1,000 / 12) = $1,000 - $83 = $917
Expenses = One-year insurance premium / Number of months in a year = $1,000 / 12 = $83
