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bearhunter [10]
3 years ago
15

The underground economy refers to used product sellers who sell in secondary markets. It is thought to make up ________ of the U

S gross national product.
Business
1 answer:
hammer [34]3 years ago
7 0

The underground economy refers to used product sellers who sell in secondary markets. It is thought to make up 3-30% of the US gross national product.

Explanation:

Household production refers to goods and services people produce for themselves.

Underground economy refers to buying and selling of goods and services that are concealed from the government to avoid taxes or regulations or because the goods and services are illegal.

If you know how much the economy works for a brief time, it doesn't matter.

If one knows how goods and services are produced for a decade or further, it might be more important to omit domestic production and development in the underground economy.

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2 years ago
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On January 1, Year 1, Stratton Company borrowed $100,000 on a 10-year, 7% installment note payable. The terms of the note requir
lisov135 [29]

Answer:

1. Debit Interest Expense $7,000; debit Notes Payable $7,238; credit Cash $14,238.

Explanation:

The journal entry is shown below:

Note payable A/c Dr $7,238

Interest expense A/c Dr $7,000

  To Cash A/c $14,238

(Being the first payment on the note is recorded)

The computation of the interest expense is shown below:

= Borrowed amount × rate of interest

= $100,000 × 7%

= $7,000

And, the remaining balance left is reported in the note payable account

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3 years ago
How is the architecture career pathway different from the construction pathway?
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5 0
3 years ago
Following are the January transactions:
lesya692 [45]

Answer:

a) Received a $795 deposit from a customer who wanted her piano rebuilt in February.

Account                     Debit          Credit

Cash                          $795

Unearned Revenue                      $795

b) Rented a part of the building to a bicycle repair shop: $545 rent received for January.

Account                     Debit          Credit

Cash                          $545

Rent Revenue                               $545

c) Delivered five rebuilt pianos to customers who paid $14,425 in cash.

Account                     Debit          Credit

Cash                          $14,425

Service Revenue                          $14,425

d) Delivered two rebuilt pianos to customers for $7,600 charged on account.

Account                         Debit          Credit

Accounts Receivable   $7,600

Service Revenue                             $7,600

e) Received $6,400 from customers as payment on their accounts.

Account                         Debit          Credit

Cash                              $6,400

Accounts Receivable                       $6,400

f) Received an electric and gas utility bill for $750 for January services to be paid in February.

Account                         Debit          Credit

Utilities Expense           $750

Utilities Payable                                $750

g) Ordered $1,140 in supplies.

Account                         Debit          Credit

Supplies Expense         $1,140

Supplies Payable                              $1,140

h) Paid $3,400 on account in January.

Account                         Debit          Credit

Cash                                                 $3,400

Accounts Payable         $3,400

i) Paid $16,900 in wages to employees in January for work done this month.          

Account                         Debit          Credit

Cash                                                    $16,900

Wage Expense                 $16,900          

j) Received and paid cash for the supplies in (g).

Account                         Debit          Credit

Cash                                                    $1,140              

Supplies Payable            $1,140                  

8 0
2 years ago
Can I get the answer and explanation to attached question please?
lord [1]

The value of the holdings of Megahurtz International Car Rentals at year end is CA$176,923.08

The value of the holdings if the real went up against the dollar is $266, 667. 67.

<h3>How to find the value of the holdings?</h3>

The exchange rate before the real declined was:

= 270,000 / 200, 000

= 1.35 real per dollar

The new exchange rate after the Real declined was:

= 1.35 x 1.3

= 1.755 Real per dollar

The value of the holdings at year end in Real will therefore be:

= 270, 000 x 1.15

= 310, 500 Real

In Canadian dollar this is:

= 310, 500 / 1.755

= CA$176,923.08

The new exchange rate as a result of the Real increasing in value is:
= 1.35 x (1 - 16% increase in value)

= 1.134 Real per dollar

The value of the holdings at year end would therefore be:

= 270,000 x (1 + 12% earning)

= 302, 400 Reals

In Canadian Dollar this is:

= 302, 400 / 1.134

= CA$266, 666. 67

Find out more on the value of holdings at brainly.com/question/15352363

#SPJ1

7 0
1 year ago
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