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4 years ago

Most countries operate under a(n) ________ exchange rate system

1 answer:

6 0

Most countries operate under a freely floating exchange rate system. A freely floating exchange rate is based on the forex market which relates to the supply and demand and how it relates to other currencies. The forex market is the largest most liquid financial market in the world.

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At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at

Mnenie [13.5K]

Average FIFO LIFO Specific

Identification

Sales $ 3,840 $3,840 $3,840 $ 3,840

Less: Cost of 2,256 2,040 2,560 2,060

Goods Sold

Gross Profit $ 1,584 $1,800 $1,280 $ 1,780

The income statement is one of the most common and important financial statements. The income statement, also known as the income statement (P&L), summarizes all income and expenses over a period of time, including the cumulative impact of income, profits, expenses, and loss transactions.

The basic formula for the income statement is Income - Expenses = Net Income. This simple equation tells you if your company is profitable.

Learn more about Income statements here brainly.com/question/24498019

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3 0

2 years ago

The _________ pricing strategy maintains low prices and avoids the use of special sales.

Harrizon [31]

<span>This is everyday low pricing, which is also known as EDLP. Usually, the EDLP is in the range of a high-low retailer's promotional price. However, the EDLP is not a discounted price. People are attracted to this price, because it is something they can count on.</span>

4 0

4 years ago

Windsor, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The follo

Norma-Jean [14]

Answer:

April 1

Dr Petty cash $268

Cr Cash $268

April 10

Dr Freight-in (Or Inventory) $76

Dr Supplies expense $41

Dr Dr Postage expense $49

Dr Accounts Receivable/Loan to employees $33

Dr Miscellaneous expense $52

Cr Cash over and short $9

Cr Cash $260

April 20

Dr Petty cash $116

Cr Cash $116

Explanation:

Preparation of the journal entries to record transactions related to petty cash for the month of April.

April 1

Dr Petty cash $268

Cr Cash $268

April 10

Dr Freight-in (Or Inventory) $76

Dr Supplies expense $41

Dr Dr Postage expense $49

Dr Accounts Receivable/Loan to employees $33

Dr Miscellaneous expense $52

Cr Cash over and short $9

($260-$76-$41-$49-$33-$52)

Cr Cash $260

($268-$8)

April 20

Dr Petty cash $116

Cr Cash $116

8 0

4 years ago

Sanders, a 62-year-old single individual, sold his principal residence for the net amount of $500,000 after all selling expenses

grin007 [14]

Answer:

$50,000

Explanation:

Recognized gain can be calculated by deducting the exclusion available from the realized gain. To qualify for exclusion from the realized gain Sanders has met all the requirements of exclusion.

NOTE: Requirments for exclusion are given at the end of solution

DATA

Sale proceeds = $500,000

Cost basis = $200,000

exclusion available for single person = $250,000

Gain =?

Calculation

Realized gain on sale of home = Sale proceeds – Cost basis

Realized gain on sale of home = $500,000 - $200,000

Realized gain on sale of home = $300,000

Recognized gain = Realized gain - exclusion available

Recognized gain = $300,000 - $250,000

Recognized gain = $50,000

Requirements for exclusion

1. You've owned the home for two of the last five years.

2. You used the home as your principal residence for two of the last five years.

3. You haven't used the exclusion on another property sale within the last two years.

5 0

3 years ago

If the dollars held for transactions purposes are, on the average, spent four times a year for final goods and services, then th

Ede4ka [16]

Answer:

The answer is (B) which is the 25 percent of nominal GDP.

Now, the question may arise that what prompted us in choosing the option (b)

This consequentially will take us to the point where we define and discuss on how we calculate for nominal GDP

What is nominal GDP:

Nominal GDP which simply means a group or pattern of measurement of a country gross domestic product. It is usually being analysed at market current prices. Hence, nominal GDP includes all of the changes in market prices that happened during the current or existing year due to inflation or deflation.

How do we calculate for nominal GDP:

It is calculated by dividing Nominal GDP by Real GDP and then multiplying by 100.

It should also be noted that Nominal GDP is the market value of goods and services produced in an economy in its raw or un-adjusted format for inflation. Real GDP is nominal GDP, adjusted for inflation to reflect changes in real output.

8 0

4 years ago