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expeople1 [14]
3 years ago
10

Potential gdp refers to 1) the difference between the highest level of real gdp per quarter and the lowest level of real gdp per

quarter within any given year. 2) the level of gdp attained by the country with the highest growth in real gdp in a given year. 3) the extent to which real gdp is above or below nominal gdp. 4) the level of gdp attained when all firms are producing at capacity
Business
1 answer:
Sholpan [36]3 years ago
5 0
4.

Potential GDP is the maximum output when there is full employment of resources or the factors of production.
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The following expenditures relating to plant assets were made by Prather Company during the first 2 months of 2020. Opposite eac
hammer [34]

Answer: Please refer to Explanation

Explanation:

1.Paid $5,000 of accrued taxes at time plant site was acquired.

LAND ACCOUNT because it is to be capitalized as it was part of the Acquisition Cost.

2.Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit.

EQUIPMENT ACCOUNT as it is part of Acquisition Cost.

3.Paid $850 sales taxes on new delivery truck.

EQUIPMENT ACCOUNT as it is again part of Acquisition Cost.

4.Paid $17,500 for parking lots and driveways on new plant site.

LAND IMPROVEMENT ACCOUNT

5.Paid $250 to have company name and advertising slogan painted on new delivery truck.

EQUIPMENT ACCOUNT as it is a cost of setting the PPE up.

6.Paid $8,000 for installation of new factory machinery.

EQUIPMENT ACCOUNT as this expense is again part of setting the equipment up.

7.Paid $900 for one-year accident insurance policy on new delivery truck.

PREPAID INSURANCE because this is a periodic cost and those are not capitalized as they provide only a short term benefit.

8.Paid $75 motor vehicle license fee on the new truck.

LICENSE EXPENSE because it is also a period cost.

6 0
2 years ago
Question 7 of 10
garik1379 [7]

Answer:

Foreclosure appeexx

6 0
2 years ago
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During March, the production department of a process operations system completed and transferred to finished goods 23,000 units
Alchen [17]

Answer:

c. $1.58.

Explanation:

The computation of the direct materials cost per equivalent unit is given below:

Equivalent units for material is

= 100% of 193,000 + 100% of 28,000

= 193,000 + 28,000

= 221,000

Equivalent cost for material is

= $94,100 + $254,800

= $348,900

So, the direct materials cost per equivalent unit is

= $348,900 ÷ 221,000

= $1.58

4 0
2 years ago
On April 30, 2015, Zono Electronics, Inc. made a payment of $3,500 to Imperial Distributors, a supplier. Choose the statement th
pav-90 [236]

Answer:

A) Debit cash, credit accounts receivable

Explanation:

As the statement said, Zoono electronics made a payment which means they are debiting cash amount of $3,500 to imperial distributor who is a supplier. So the best statement that best describes the recording of this financial transaction by imperial distributor is their account receivable has been credited and cash is debited. All the other options are wrong except this.

3 0
3 years ago
Mostert Music Company had the following transactions in March: Sold music lessons to customers for $12,050; received $6,650 in c
bezimeni [28]

Answer:

Under Cash Basis all transactions for which cash is exchanged whether paid or received is accounted for.

Cash Basis Income Statement

Sales Revenue = $6,650

Customer Deposits = $4,550

Total Revenue = $11,200

Less: Expenses:

Wages              = ($700)

Net Income = $10,500

Under Accrual basis, the transactions are recorded as to the period they relate, and it is not necessary to exchange cash for the same.

Accrual Basis Income Statement

Sales Revenue = $12,050

Total Revenue = $12,050

Expenses

Wages = ($700)

Utilities = ($330)

Total Expenses = ($1,030)

Net Income = $11,020

7 0
3 years ago
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