The inflation rate between years 1 and 2 is 2.13%
What is CPI?
CPI means consumer price index, the consumer price index measures the change in prices of a basket of goods and services from one period to another, like the change in prices or inflation rate from one year to another year.
The inflation rate can be expressed in the current year CPI divided by the prior year CPI as shown by the CPI formula shown below:
inflation rate=(CPI year 2/CPI year 1)-1
CPI year 2=245.1
CPI year 1=240
inflation rate=(245.1/240)-1
inflation rate=2.13%
The implication of the above computation is that the inflation rate between year 1 and year 2 is approximately 2.13% when rounded to 2 decimal places.
In other words, the prices of goods and services has increase by 2.13% on the average between the two years
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Answer:
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
Answer:
D. investing in production improvement option B at those production facility locations producing 500 models.
Answer: Harvey company will record the equipment at $14,700 is its books.
We usually record equipment at the actual price at which it was bought. Even though Harry company was willing to pay only $13,000, it actually went ahead and paid $14,700 to purchase the equipment.
We don’t consider the retail price here, since Harvey company did not buy the equipment from the retail market.
In the advertisement, Carrey Company probably put a value of $19,000 (by considering the retail rate) to see the market response to buy the at that price. So, we don’t consider that either.
Answer:
c. can require Jim to specifically perform the contract.
Explanation:
Specific performance is a remedy used in contract law by which the non-breaching party requires a court to order that the breaching party fulfills the performance included in a valid contract.
In this case, Oleta can request a court order that forces Jim to sell the lava lamp to her at the price specified in the contract.
