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aleksandrvk [35]
3 years ago
10

Please select the GDP calculation method that best fits each of the given definitions. This method takes into account payments r

eceived by the various factors of production used to produce final goods and services in the economy.
Business
1 answer:
gulaghasi [49]3 years ago
5 0

Answer:

income approach

Explanation:

The income approach method for calculating the GDP adds the factor incomes to the factors of production. It uses an approach similar to general accounting procedures since the total amount of the expenditures = total income. It divides the economy into four major factors of production or sources: wages, rents, interest and profits.

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Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $49,0
natima [27]

Answer:

a. Dr Bad debt expense $1,617

Cr Allowance for doubtful debt $1,617

b. Dr Bad debt expense $2,205

Cr Allowance for doubtful debt $2,205

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Estimated uncollectible amount

= 5% × $49,000

= $2,450

As such, if the allowance for doubtful;

has a $833 credit balance before the adjustment

Additional allowance required

=$2450 - $833

= $1,617

Entries required are

Dr Bad debt expense $1,617

Cr Allowance for doubtful debt $1,617

b) a $245 debit balance before the adjustment.

This means that off the amount uncollectible $245 has already gone bad

Adjusting entries required amounts to

= $2450 - $245

= $2205

Dr Bad debts expense $2205

Cr Allowance for doubtful debt $2205

7 0
3 years ago
Parliament Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Parliam
ss7ja [257]

Answer:

Note: <em>The complete question is attached as picture below</em>

<em />

We are add the previous month +10% to get that month's amounts

                              Sales Budget

                       January     February    March

Cash sales      $50,000   <u>$55,000</u>    <u>$60,500</u>

Credit sales    $120,000  <u>$132,000</u>  <u>$145,200</u>

Total sales      $170,000 <u>$187,000</u>  <u>$205,700</u>

<u>Workings</u>:

February

Cash sales = 50,000+(50,000*10%) = $55,000

Credit sales= 120,000+(120,000*10%) = $132,000

March

Cash sales = 55,000+(55,000*10%) = $60,500

Credit sales= 132,000+(132,000*10%) = $145,200

7 0
2 years ago
100 million diluted shares outstanding trading at $37.50 per share. The company has $1 billion of debt outstanding with a cost o
Pepsi [2]

Answer:

$4,650,000,000

Explanation:

We will use the formula below to calculate the enterprise value of Correct inc.

Enterprise value = Market value capital and debts - Cash and investments

= 100 million diluted shares × 37.50 per share + $1 billion of debt outstanding - $100 million cash

= $3750m + $1000m - $100m

= $4,650,000,000.

4 0
3 years ago
In her work in the publishing industry, vera seeks out new authors who she considers promising. in the past two years she has fo
sweet-ann [11.9K]
The answer would be a
8 0
3 years ago
You have been asked to assist Emerald City in its response to increasing flooding. The National Weather Service (NWS) reports it
Zinaida [17]

Answer: Divide the Operations Section into three Divisions, each assigned to a different geographical area to evacuate.

Explanation:

Since the initial objective is to evacuate residents, therefore, in addition to a Flood Control Group and a Nursing Home Task Force, another organizational structure that can be used to tackle this issue is to divide the Operations Section into three Divisions, each assigned to a different geographical area to evacuate.

Assigning the individuals in each group to s particular area will lead to a faster evacuation and bring about efficiency with regards to the evacuation.

7 0
3 years ago
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