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satela [25.4K]
2 years ago
6

I’m in economics please help

Business
1 answer:
NeTakaya2 years ago
4 0

Answer:

b. unemployment

Explanation:

Unemployment refers to the situation where people within the working age group (15 to 64) are looking for work but cannot find one.

Underemployment is when a highly skilled labor is doing a work that is meant for a less skilled labor.

Cyclical Unemployment occurs when employers lay off workers as a result of economic recess.

Since the 15 year old wants a job but find one, he is unemployed.

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(Pension Expense, Journal Entries, Amortization of Loss) Gottschalk Company sponsors a defined benefit plan for its 100 employee
Alika [10]

Answer: See attachment and explanation.

Explanation:

a. Determine the components of pension expense that the company would recognize in 2017.

Service cost = $52,000

Add: Interest on projected benefit obligation = $380,000 × 10% = $38,000

Less: Actual return on plan asset = ($11000)

Less: Unexpected loss = 200,000 × 10% - 11,000 = ($9000)

Ammortization of prior service cost = $15000

Pension expense = $85,000

b. The journal entry to record the pension expense and the company’s funding of the pension plan in 2017 has been attached.

c. The amount of the 2017 increase/decrease in gains or losses and the amount to be amortized in 2017 and 2018 has been attached.

d. The pension amounts reported in the financial statement as of December 31, 2017 will be $85,000.

7 0
2 years ago
The amount of something that is produced compared to the resources taken to product it is called _________.
Mariulka [41]
The answer is efficiency
3 0
2 years ago
How much is the sales tax on $19.50 worth of goods if the tax rate is 7%? $2.79 $0.14 $1.37 $0.28
exis [7]

Answer:

1.37

Explanation:

=19.50x7

=$1.365

=$1.37

4 0
2 years ago
Who pays taxes in a corperation?
atroni [7]

Answer:

<em>Companies, both private and public which are registered in India under the Companies Act 1956, are liable to pay corporate tax. For the assessment year 2014-15, domestic companies are taxed at the rate of 30%.</em>

Explanation:

<h3><em>I </em><em>hope</em><em> this</em><em> helps</em><em>!</em></h3>
7 0
2 years ago
Why is the cost of goods sold account part of a trading business only? The cost of goods sold account is part of a trading busin
ELEN [110]

COGS is sometimes referred to as cost of sales and refers to the production costs for products manufactured and sold or purchased and re-sold by the company. These costs are an expense of the business, and they reduce the revenue the company makes from selling its products.

For example, say your business assembles a completed widget from various inventory parts and sells it online for $15. The parts of the widget and the direct labor required to assemble them cost $10.

The $10 cost is deducted from the widget's sale price to determine the gross profit it generates, and the taxes on that profit. The IRS allows you to include a variety of costs in this calculation.  

Cost of goods sold is determined annually by showing changes in the company's balance of "goods" or inventory, from the beginning to the end of the company's fiscal (financial) year, and it is included in the company's income statement. The income statement information is included on the business tax return and used to calculate adjusted gross income as well as net income for tax purposes.

What's Included in Cost of Goods Sold

Cost of goods sold includes the direct cost of producing the product or the wholesale price of goods resold and the direct labor costs to produce the product. Specifically, it can include:

Cost of raw materials.

Cost of items purchased for resale.

Cost of parts used to construct a product.

COGS also includes other direct costs such as labor to produce the product, supplies used in manufacture or sale, shipping costs, costs of containers, freight in, and overhead costs directly related to the manufacture or production activity (like rent and utilities for the manufacturing facility).

Finally, COGS includes indirect costs such as distribution costs and sales force costs that are also directly related to the products the company sells.


8 0
3 years ago
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