The recording of the factory labor incurred for general factory use would include a debit to:

Scrat [10]

Answer:

Liability insurance is a part of the general insurance system of risk financing to protect the purchaser from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.

Explanation:

8 0

2 years ago

Read 2 more answers

A building acquired at the beginning of the year at a cost of $123,800 has an estimated residual value of $4,800 and an estimate

grigory [225]

Answer:

A. $119,000

B. 10%

C.$11,900

Explanation:

Deprecation is a method used in expensing the cost of an asset.

The depreciable cost = Cost of asset - Salvage value = $123,800 - $4,800 = $119,000

The straight line rate = 1/10= 0.1 = 10%

annual straight-line depreciation = depreciable cost × straight line rate = $119,000 × 0.1 = $11,900

I hope my answer helps you

6 0

3 years ago

Item 3 What do economists call GDP that uses constant, unchanging prices? constant GDP real GDP nominal GDP factual GDP

Ivenika [448]

Economists call GDP that uses constant, unchanging prices as

Real GDP

Explanation:

Real gross domestic product (real GDP for short) is a macroeconomic measure of the value of economic output adjusted for price changes . This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output.
It is calculated using the prices of a selected base year. To calculate Real GDP, you must determine how much GDP has been changed by inflation since the base year, and divide out the inflation each year.
Real GDP accounts for the fact that if prices change but output doesn't, nominal GDP would change.
The real economic growth, or real GDP growth rate, measures economic growth as it relates to the gross domestic product (GDP) from one period to another, adjusted for inflation, and expressed in real terms as opposed to nominal terms

7 0

3 years ago

Mike Samson is a college football coach making a base salary of $632,400 a year ($52,700 per month). Employers are required to w

lakkis [162]

Answer:

Part 1:

Total amount withheld for Social Security and medicare=$16264.2

Amount withheld for Social Security=$7049.4

Part 2:

Additional amount which the employer will contribute=$16264.2

Explanation:

Part 1:

Amount withheld for Social Security= $113700 * 6.2%=$113700 * 6.2/100

Amount withheld for Social Security=$7049.4

Amount withheld for Medicare=$632400 * 1.45%=$632400 * 1.45/100

Amount withheld for Medicare=$9169.8

Total amount withheld for Social Security and medicare=$7049.4+$9169.8

Total amount withheld for Social Security and medicare=$16264.2

Part 2:

The additional amount which the employer will contribute towards the FICA taxes is same as withheld by Coach Samson.

Additional amount which the employer will contribute=$7049.4+$9169.8

Additional amount which the employer will contribute=$16264.2

4 0

3 years ago

A. Fiscal Policy involves changing _______________. In the United States, Fiscal Policy is implemented by the ____________.

Ede4ka [16]

Answer:

a. Fiscal Policy involves changing government purchases and tax. In the United States, Fiscal Policy is implemented by the federal government.

b. An expansionary fiscal policy can be used to address a Recessionary Gap by reducing taxes and increasing government purchases.

Explanation:

Fiscal policy can be described as the employment of the government purchase and taxation level by the federal goveernment with the aim of influencing the aggregate demand and economic activity level.

Expansionary fiscal policy occurs when the government increases its purchases and reduces taxes in order to close Recessionary Gap, while contractionary fiscal policy is when the government reduces it purchases and increases taxes.

Based on this explanation, we have:

a. Fiscal Policy involves changing government purchases and tax. In the United States, Fiscal Policy is implemented by the federal government.

b. An expansionary fiscal policy can be used to address a Recessionary Gap by reducing taxes and increasing government purchases.

6 0

2 years ago