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stepan [7]
3 years ago
11

The tables show the spending and revenue for Littleland in 2010. Use the tables and other information to answer the questions. S

pending category Value (millions) education $320 welfare and Social Security $890 health care $270 defense $120 payments on debt $170* other $240 *This payment covers total interest owed only. Revenue category Value (millions) income tax $800 sales tax $270 corporate tax $300 social insurance $340 GDP in 2010: $7.3 billion Total debt as of 2009: $3.5 billion How much money (in millions) did Littleland need to borrow in 2010 to finance its government spending
Business
1 answer:
fgiga [73]3 years ago
7 0

Answer:

$300 million

Explanation:

The computation of debt is shown below:-

But before that we need to determine the following amounts

Total Expenditure = Spending on Education + Spending on Welfare and social security + Spending on Healthcare + Spending on Defense + Payments on Debt + Other Spending

= $320 + $890 + $270 + $120 + $170 + $240

= $2,010 million

Total Revenue = Income Tax + Sales Tax + Corporate Tax + Social Insurance

= $800 + $270 + $300 + $340

= $1710 million

Debt or borrowed amount =Total expenditure - Total revenue

= $2,010 - $1,710

= $300 million

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2 years ago
During the​ year, Sheldon Company had net credit sales of $ 47 comma 000. At the end of the​ year, before adjusting​ entries, th
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Answer:

The balance of allowance for doubtful accounts is $ 1,880

Explanation:

Computation of balance in Allowance for Bad Debts

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3 years ago
Five individuals organized Miami Music Corporation on January 1. At the end of January 31, the following monthly financial data
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Baxter Inc. owns 90 percent of Wisconsin Inc. and 20 percent of Cleveland Company.
dexar [7]

Answer:

$350,380

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Calculation to determine the amount that would appear on the consolidated income

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