Answer:
Debit Delivery Expense; credit Cash.
Explanation:
The journal entry to record the freight expenses should be:
Dr Delivery (freight) expense XX
Cr Cash XX
All expenses have a debit balance, and when they increase, they must be debited.
All assets have a debit balance, and when they decrease, they must be credited.
Answer:
The future value in 5 years is $3,184.87
Explanation:
The figure is arrived by calculating the future of the yearly total service of $600($3*200) by using applicable annuity factor for each of the years from year 1 to 5.
The annuity factor for each year is calculated as (1+r)^n, where r is the rate of return of 2% and the n the year in which the service fee relates to.
Kindly find attached for detailed computations.
Answer:
Explanation:
<u><em>A) A temporary increase in government purchases</em></u>
Savings would be used decreasing them. which leads to the government implementing higher taxes. <u>The output will stay the same while the Real Interest and the price level would increase</u>.
<u><em>B) A reduction in expected inflation</em></u>
This provokes more money demand. At the same time, the <u>money price level goes down</u>. <u>The output and the Real Interest will remain at the same level.</u>
<u><em>C) A temporary increase in labor supply</em></u>
The more jobs, the more the people have more money. Interest rate will decrease and money demand will increase. <u>The output would increase while the Real Interest and the price level would drop.</u>
<u><em>D) An increase in the interest rate paid on money</em></u>
Under this scenario, there will be a higher demand for money. If the nominal supply of money remains constant, the <u>price level would decrease</u>. <u>The output will remain the same as well as the Real Interest.</u>
First, we will calculate the net trade balance:
net trade balance = exports - imports = $5 billion - $16 billion = $-11 billions
Then, we will decide whether this is trade deficit or trade surplus. A trade surplus is when the value of exports is more than that of imports while a trade deficit is when value of imports is more.
From the mentioned values, it is clear that the US suffered from a trade deficit this year.
Value of trade deficit = $11 billion.
Answer:
The explanation is given in the file attached
Explanation:
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