The value of the money was not too long ago based on a country's own amount of gold. The value of money has not been based on anything since 1971. In fact, money is now founded on the abstract concept of confidence. Money's value is not more linked with the amount of gold held, but rather to how much trust in the economy of a particular country exists, and its debt (bond) markets are a proxy indicator of a country's level of trust. The less faith in an economy, the greater the return on risk will be required by market forces. The less trust there is, the less demand is for the bonds of a country. As the bond price falls, the bond's return increases. In comparison with the risk of making the loan, a trade takes place when the yield corresponds with the level of return investors willing. The 2009 Greek debt crisis is a simplistic example. With the Greek government's trust level falling, Greece's 10-year bonds ' yield started to increase from 5 to 30 percent when Greece defaulted on its debts.
Answer:
Explanation:
There are three ways to propagate a plant: dividing (separating an already growing plant into two), rooting a leaf (typically done with succulents), or rooting a cutting (a small stem with leaves).
Answer:
July 15
Dr Cash $24,960
Cr Sales $24,000
Cr Sales Taxes Payable $960
Dr Cost of Goods Sold $12,000
Cr Merchandise Inventory $12,000
On August 1
Dr Sales Taxes Payable $960
Cr Cash $960
On November 3
Dr Cash $720
Cr Unearned Ticket Revenue $720
On November 20
Dr Unearned Ticket Revenue $120
Cr Ticket Revenue $120
Explanation:
Preparation of the journal entries
July 15
Dr Cash $24,960
($24,000+$960)
Cr Sales $24,000
Cr Sales Taxes Payable $960
($24,000*4%)
Dr Cost of Goods Sold $12,000
Cr Merchandise Inventory $12,000
On August 1
Dr Sales Taxes Payable $960
Cr Cash $960
($24,000*4%)
On November 3
Dr Cash $720
Cr Unearned Ticket Revenue $720
On November 20
Dr Unearned Ticket Revenue $120
Cr Ticket Revenue $120
(1/6*$720)
The letter of transmittal and the statistical section are classified as Comprehensive Annual Financial Report (CAFR).
These are not included in the basic financial statement and required supplementary schedule.
CAFR comprises the financial report of any state, municipality or government entity.
Answer:
Break-even point in units= 14,000 units
Explanation:
Giving the following information:
Selling price= $60
Variable costs are $30 per unit
Fixed costs total $120,000.
Desired profit= $300,000
<u>To calculate the number of units to be sold, we need to use the following formula:</u>
Break-even point in units= (fixed costs + desired profit)/ contribution margin per unit
Break-even point in units= (120,000 + 300,000) / 30
Break-even point in units= 14,000 units