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m_a_m_a [10]
3 years ago
14

Presented below is selected information related to Beerbo Inc. at year-end. All these accounts have debit balances. For each ite

m, identify how it should be classified in Beerbo's financial statements.
Cable television franchises
Film contract rights
Music copyrights
Customer lists
Research and development costs
Prepaid expenses
Goodwill
Cash
Brand names
Discount on notes payable
Notes receivable (short-term)
Accounts receivable
Property, plant, and equipment
Organization costs
Land
Business
1 answer:
Colt1911 [192]3 years ago
7 0

Answer: Please refer to Explanation

Explanation:

Cable television franchises - INTANGIBLE ASSETS

Film contract rights - INTANGIBLE ASSETS.

Music copyrights - INTANGIBLE ASSETS.

Customer lists - INTANGIBLE ASSETS.

Research and development costs - OPERATING EXPENSES.

Prepaid expenses - CURRENT ASSET

Goodwill - INTANGIBLES

Cash - CURRENT ASSET

Brand names - INTANGIBLE ASSETS

Discount on notes payable - NOTES PAYABLE DEDUCTIBLE.

Notes receivable (short-term) - CURRENT ASSETS

Accounts receivable - CURRENT ASSETS

Property, plant, and equipment - FIXED/ NON-CURRENT ASSETS

Organization costs - START-UP COSTS

Land - NON-CURRENT ASSETS

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A country is in the midst of a recession with real GDP estimated to be $4.5 billion below potential GDP. The government's policy
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Answer:

a. The government needs to increase spending by $0.45 billion and decrease taxes by $0.5 billion.

b. The real GDP will fall short of potential GDP by $3.6 billion.

c. The real GDP will fall short of potential GDP by $4 billion.

d. If government overestimates MPC change in spending or taxes will be too small.

Explanation:

The GDP gap is $4.5 billion.

a. The marginal propensity to consume is 0.90.

Government spending multiplier

= \frac{1}{1-MPC}

=  \frac{1}{1-0.9}

= 10

The government needs to increase spending by

= \frac{GDP\ Gap}{Government\ spending\ multiplier}

= \frac{4.5}{10}

= $0.45 billion

Tax multiplier

= \frac{-MPC}{1-MPC}

= \frac{-0.9}{1-0.9}

= -9

The government needs to decrease taxes

= \frac{GDP\ Gap}{Tax\ multiplier}

= \frac{4.5}{9}

= $0.5 billion

b. The marginal propensity to consume is 0.50.

Government spending multiplier

= \frac{1}{1-MPC}

=  \frac{1}{1-0.5}

= 2

If the government  increases spending by $0.45 billion,

The real GDP will increase by

= Increase\ in\ spending\ \times\ Spending\ multiplier

= \$ 0.45\ \times\ 2

= $0.9 billion

The real GDP will fall short of potential GDP by

= $4.5 billion - $0.9 billion

= $3.6 billion

c. Tax multiplier

= \frac{-MPC}{1-MPC}

= \frac{-0.5}{1-0.5}

= -1

If the government decreases taxes by $0.5 billion

The real GDP will increase by

= $0.5\ billion\ \times 1

= $0.5 billion

The real GDP will fall short of potential GDP by

= $4.5 billion - $0.5 billion

= $4 billion

d. If the government overestimates the value of the MPC, then its change in spending or taxes will be too small and real GDP will fall short of potential GDP.

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3 years ago
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