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eimsori [14]
3 years ago
14

Residential Investment Payments of Factor Income to the rest of the world National Income Inventory Adjustment 0.00 Personal Con

sumption Expenditure Depreciation Exports Nonresidential Investment Receipts of Factor Income from the Rest of the World Government Transfer Payment 200.00 Statistical Discrepancy 0.00 Imports Using the above information calculate the values of​ GDP, GNP, NNP and Government Consumption and Gross Investment​ (G).

Business
1 answer:
Ivanshal [37]3 years ago
3 0

Please find full question attached

Answer and Explanation:

Gross domestic product is calculated:

Gross Domestic Product(GDP) = Gross National Product (GNP)  - Receipts of factor income from rest of the world + Payments of factor income to the rest of the world

So to find GDP, we calculate GNP

GNP = NNP+Depreciation

To calculate GNP, we calculate NNP:

Net national product (NNP) =national income, so we have,

NNP = $2,445 billion

GNP = NNP + Depreciation = $2,445+$75

GNP = $2,520 billion

So we substitute in GDP formula to calculate GDP

GDP = 2,520 - 70 + 50 = $2500 billion

GDP = $2,500 billion

Government consumption and gross investment= Government transfer payments + Non-residential investments

Government consumption and gross investment is given by G

G = 200+250 = $450 billion

G = $450 billion

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Expenditures that maintain the operating efficiency and expected productive life of a plant asset are generally
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The actual cash received from cash sales was $3,930 and the amount indicated by the cash register total was $3,880. the journal
Nuetrik [128]

The actual cash received from cash sales was $14,356 and the amount indicated by the cash register total was $14290

a.what is the amount deposited in the bank for the day's sales?

14,356
Because this is the amount which is actually received by sales

b.What is amount recorded for the day's sales?

14,290
Because this is the amount which has been recorded in the cash register.

c.How should the difference be recorded?

Dr Cash 14,356 
Cr Over/Short 66 
Cr Sales 14,290

d. If a cashier is consistently over or short what action should be taken?

First of all we need to find out that whether the cashier is genuinely making mistakes or there is a case of theft.There would be some close monitoring. If they are just mistakes, maybe some extra mentoring in cash handling would help.

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Part a and b are informational and thus we dont have to do anything with them.

Part c and d are reconciling terms.

Parts e and f needs entries to adjust the company's books. For e there needs to be a debit to cash for the incorrect amount and a credit for the correct amount. For f there needs to be a credit to cash.

E.
(Dr) Cash in bank $540 
(Cr) Accounts payable $540
$710 - $170

F.
(Dr) Bank charges $50 
(Cr) Cash in bank $50

Bank reconciliation:
Cash balance per book $24,010
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Adjusted book balance $24,500

Cash balance per bank $22,750
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Less: Outstanding checks $7,350 
Adjusted bank balance $24,500

Hope you get it.

Get back to me in case you have any doubts.
I would be happy to help.

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