Answer:
a. 28.7 millions
b. 20.4 millions
c. 0.9231, or 92.31%
Explanation:
a. How much of the population is older than 16? million
Number of population older than 16 = Total population - Children under the age of 16 = 35.4 – 6.7 = 28.7 millions
b. What is the size of the labor force? million
Labour force = Employed + Unemployed = 18.5 + 1.9 = 20.4 millions
c. What is the labor force participation rate?
Working age population = Total population – Children under the age of 16 – Retirees = 35.4 – 6.7 – 6.6 = 22.1 millions
Labor force participation rate = Labor force ÷ Working age population = 20.4 ÷ 22.1 = 0.9231, or 92.31%
Answer:
d.No effect on the expenses of the current period.
Explanation:
In the case when the credit balance of the allowance for doubtful debt more than the bad debt amount i.e. written off
So the entry for writing off against the allowance would result in no effect on the expense for the present period
As the bad debt expense is debited and the allowance for doubtful debt would be credited therefore the option d is correct
Answer:
The introductory APR is the interest rate that the loan or credit card starts out at..(usually a promotional tool)and the standard rate is what the rate normally is.. the set rate
Explanation:
The firm’s operating cycle is equivalent to the sum of
the total number of days of a cycle of the receivables turnover and the
inventory turnover.
Receivables turnover = 365 days / 14.8 = 24.66 days
Inventory turnover = 365 days / 22.6 = 16.15 days
Operating cycle = 24.66 days + 16.15 days = 40.81 days
<span>Answer:
40.81 days</span>
Answer:
B. $23,000
Explanation:
Recall that, assets are resources that an individual or an organization has which have future economic value that can be measured,
Thus,
Total current assets = Cash + account receivable + supplies + prepaid rents + inventories.
Therefore
Total current assets = 7000 + 6000 + 1000 + 4000 + 5000
= $23,000
Note: Land is not included in CURRENT asset. Land are longterm assets.