Answer:
Command
Explanation:
In the command economic model, the government determines the level of economic productions in the country. It decides what will be produced, its quantity, and the cost price. A central authority or the government owns all the factors of production.
The command economy is also the planned economy. The government plans and produces all goods and services. The private sector is not present in the command economy.
Answer: they saw through their plans
Answer: b. thinking
Explanation:
Kim Thorsten has the personality type known as thinking. People like her are logical when they make decisions which means that they rely less on emotion and use rationale and evidence to make decisions.
These people are pragmatists and will only make a decision that they believe is objectively the best one after considering other options. This is what Kin does and why she is under thinking.
Answer:
Dividends paid is $2 millions
Explanation:
The change in retained earnings during the year can be calculated by taking the difference between the opening and the closing balance which is calculated as under:
Change in Retained Earnings = $420 million - $395 million = $25 millions
The change in retained earnings during the year is the share of Net income retained by the company which means the remainder amount which is not retained by the company is Dividend paid.
And
Dividends paid = $27 million Net Income - $25 million Earnings Retained
Dividends paid = $2 millions
Answer:
Debit Insurance expense $10,000
Credit Prepaid Insurance $10,000
Being entries to recognize insurance expense for the period (August to December).
Explanation:
Given;
Insurance policy was purchased on July 10 to run for 3 years.
Cost of policy = $72,000
Start date is August 1st. As at 31 December, the policy should have been amortized for 5 months (August to December)
Monthly depreciation = $72,000/(3 × 12)
= $2,000
Total amortization between August and December = 5 × $2,000
= $10,000
Journal entries
Debit Insurance expense $10,000
Credit Prepaid Insurance $10,000
Being entries to recognize insurance expense for the period (August to December).
