Answer:
A= 62.5; B=60%; C = $160,000 and $352,000
Explanation:
A.
in 1984 each bucket of chicken was priced at $10 (nominal GDP)
in 2005 the price per bucket of chicken was $16 (real GDP)
GDP price index = nominal GDP divided by the real GDP × 100
=($10/$16)× 100
= 62.5
B.
In 1984, Price of each bucket = $10
In 2005, Price of each bucket = $16
Percentage difference = price In 2005 - price in 1984/price in 1984 × 100
= (16 - 10)/10 × 100
=6/10×100
=60%
The price level rise by 60% from 1984 to 2005
C.
In 1984, total buckets of chicken produced= 10,000
In 2005, total buckets of chicken produced = 22000
real GDP in 1984 = total buckets of chicken produced × current price per bucket in 2005
= 10,000 × $16
= $160,000
real GDP in 2005 = total buckets of chicken produced in 2005 × current price per bucket in 2005
= 22000 × $16
= $352,000
Answer:
a. Reversal entry:
Debit Rent expense $4,650
Credit Miscellaneous Expense $4,650
Correct Entry:
Debit Rent expense $4,650
Credit Cash $4,650
b. Reversal entry:
Debit Accounts payable $3,700
Credit Cash $3,700
Correct Entry
Debit Cash $3,700
Credit Accounts Receivable $3,700
Explanation:
Reverse entry is to simply close to zero the original entry that has been made in mistake. Afterwards, record the correct entry to properly account the transaction.
To reverse the previously made entry, we simply debit what is credited and debit what is credited.
a. We need to close the rent expense credited by debiting it and credit the miscellaneous expense that is previously debited to zereod out the mistake recording. Then to record the correct entry, Debit Rent expense and Credit Cash at the amount $4,650
b. Just ike what we did on the previous transaction, we will debit the Accounts payable and credit the cash that has been recorded by mistake to zereod out the balance and then make the correct entry. Debit Cash $3,700 and credit Accounts receivable $3,700.
Answer:
Tell the customer when you store’s next delivery day is and to come back then Issue the customer a raincheck for the item that is out of stock
Explanation:
Customer<em> retention</em> is important as well as <em>meeting their specific needs</em>. It is unwise to turn back a customer and refer them to a competitor, this may mean loss of business (currently and in the future). Also it is unwise to offer a substitute item as this will not meet their needs (though you may want to inform them of the substitute item if they are interested). Issue the customer a raincheck for the item that is out of stock is the best way to go and keep the business.
Answer:
The answer about A static budget would be
Explanation:
A static budget is a type of budget that incorporates anticipated values on inputs and products that are conceived before the period in question begins. When compared to the actual results that are received after the fact, the static budget figures are often very different from the actual results.
The static budget is intended to be fixed and unchanged throughout the period, regardless of fluctuations that may affect the results.
For example, under a static budget a company would establish an anticipated expense, say $ 30,000 for a marketing campaign, for the duration of the period. It is then up to the managers to adhere to that budget, regardless of how the cost of generating that campaign really stays during the period.
This type of budgeting is limited by the ability of an organization to accurately forecast what its needs are, how much it will spend to meet them and what its operating income will be during the period. Static budgets can be more effective for organizations that have highly predictable sales and costs, and for shorter periods of time.
For example, if a company sees the same costs in materials, profits, labor, advertising and production month after month to maintain its operations and there is no expectation of change, a static budget may be adequate for its needs.
You sure invest 150.00 every two weeks out of your pay check
