Answer:
$76,000
Explanation:
The calculation of the interest expense is shown below:
= Reported amount of cash paid for interest + Decrease in prepaid interest - decrease in accrued interest payable
= $70,000 + $23,000 - $17,000
= $76,000
The decrease in prepaid interest is classified as a current asset and the accrued interest payable is current liabilities and we know that the rise in current assets and a decline in current liabilities are excluded, while the decline in current assets and an increase in current liabilities are included.
Answer:
The answer is: C. The trend toward mostly capitalist nations to move toward socialism.
Explanation:
Capitalism is an idea that favors free markets, but 100% pure capitalism will never exist. The same happens to socialism, no country is 100% socialist. All the countries in the world are mixed between capitalism and socialism but on different percentages.
For example, in a true capitalistic nation no government could exist since no taxation would be allowed. Governments function with the money of their citizens collected through taxes, but theoretically in a free market taxes don't exist. Currently the US and China are involved in a "trade war" which includes import tariffs, which should not exist according to capitalism.
I'm not sure, but I believe there are no pure socialist countries in the world and they probably have never existed either. Not even the Soviet Union was a pure socialist country and China has become the biggest defender of capitalism in the world.
Answer:
When interest rate rises, the quantity of money demanded reduces
Explanation:
As interest rate increases firms seeking to borrow money for capital stock expansion are likely not going to go ahead with it. The reason is simply because, interest rate and money demanded have an inverse relationship. As interest rate rises money demanded falls because it means that for any amount of money borrowed the interest rate attached to it is higher making the cost of borrowing heavier on the borrower.
Answer:
Details Dec. 31, 2021 Dec. 31, 2022
1. Projected benefit obligation $250 $645
2. Plan assets $260 $556
3. Pension expense $250 $369
4. Net pension asset or net pension liability $10* $89**
Where:
* implies asset
*** implies liability
Note: The figure above are in thousands buy entered as required in the question (Enter your answers in thousands (i.e., 200,000 should be entered as 200).)
Explanation:
Note: See the attached excel file for the calculations Projected benefit obligation, Plan assets, Pension expense, and Net pension asset or net pension liability for December 31, 2021 and December 31, 2022 respectively.
