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3 years ago

According to the model developed in Chapter 3, when government spending increases and taxes increase by an equal amount:

Business

1 answer:

Mariana [72]3 years ago

7 0

Answer:

Correct answer is (B) consumption and investment both decrease.

Explanation:

when government spending increases and taxes increase by an equal amount there will be decrease in both consumption and investment.

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The following proceeds received by Grove City in year 1 are legally restricted to expenditure for specified purposes: Donation b

tatiyna

Answer:

The $1,200,000 should be accounted for in Grove’s special revenue funds

Explanation:

Special revenue fund: The special revenue fund is a fund that is introduced by the government to collect the money from the public. It is made to fulfill the need for specific purposes/ projects.

The computation of special revenue funds is shown below:

= Income received for providing the meals to the needy people + financing of sales tax with respect to tourist facilities maintenance in the shopping district

= $300,000 + $900,000

= $1,200,000

4 0

3 years ago

What item flows from the income statement to the statement of retained earnings?.

Reil [10]

Net Income flows from the income statement to the statement of retained earnings.

The balance sheet is balanced when net income from the income statement, less any dividends paid, is transferred to the retained earnings column. Additional connections- Long-term debt on the balance sheet is used to determine interest expenditure on the income statement.

Net income: In commerce, Net Income is the amount of cash left over on balance costs, like salaries and wages, the value of commodities or raw materials, and taxes, are paid. Net Profit is the amount that an individual keeps after paying taxes, insurance premiums, and retirement contributions.

Net Income.

To learn more about the question, please visit the following link:

brainly.com/question/14531265

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5 0

1 year ago

Which of the following is not a typical adjustment made to the income statement for projection purposes?

ankoles [38]

Answer:

The correct answer is b. Adjusting revenues to only include organic revenue growth.

Explanation:

One of the quantitative planning techniques is the projection of financial statements or also called pro forma statements.

The applications that can be had among others are the following:

Know how the year will end for tax purposes in terms of income and deductions in order to make decisions before the end of the year.

Another application will be to know the external financing needs for the period you want to know.

The most common and practical method of projecting financial statements is based on sales.

7 0

3 years ago

What do you call the person behind the desk at a hotel?

o-na [289]

The person is called a hotel desk clerk

5 0

3 years ago

Read 2 more answers

Bigham Corporation, an accrual basis calendar year taxpayer, sells its services under 12-month and 24-month contracts. The corpo

Gnesinka [82]

Answer: 2016= $13,000; 2017= $25,000

Explanation:

for 2016

Income to be recognised in 2016 for 12 months term= Total proceeds x period of service provided (july -december )/ Total contract term

Income to be recognised in 2016= 14,000 x 6months /12months

= 14,000 x 1/2= $7,000

Income to be recognised in 2016 for 24 months term= Total proceeds x period of service provided (july -december )/ Total contract term

Income to be recognised in 2016= 24,000 x 6months /24months

= 24,000 x 1/4= $6,000

income to be recognized in taxable income in 2016= $7,000 + $6,000= $13,000

for 2017

Income to be recognised in 2017 for 12 months contract term= Total proceeds x remaining period of service provided from jan. to june 2017 / Total contract term

Income to be recognised in 2017= 14,000 x 6months /12months

= 14,000 x 1/2= $7,000

Income to be recognised in 2017 for 24 months contract term= Total proceeds x remaining period of service provided fromjuly 2016 -dec 2017/ Total contract term

Income to be recognised in 2016= 24,000 x (24-6) 18months /24months

= 24,000 x 3/4= $18,000

income to be recognized in taxable income in 2017= $7,000 + $18,000= $25,000

7 0

3 years ago