<u>Answer:</u>
The amount of cash that will be received by Montana is $37000.
<u>Explanation:</u><u> </u>
Minden Mel Montana
Profit sharing ratio 30% 40% 30%
Balances 27000 -12000 43000
Deficiency distrubuted -6000 12000 -6000
Cash received by partners 21000 0 37000
Minden and Montana have to contribute in their
profit sharing ratio (30% and 30%), i.e., equally.
Therefore, the amount of cash that will be received by Montana is $37000.
Answer:
Debit bad debt expenses with $1,680, and credit Accounts receivable also with $1,680.
Explanation:
Uncollectibles = Accounts receivable × 1.50% = $112,000 × 1.50% = $1,680
The December 31 year-end adjusting entry for uncollectibles will be as follows:
<u>Details Dr ($) Cr ($) </u>
Bad debt expenses 1,680
Accounts receivable 1,680
<u><em>Being the amount Accounts receivable estimated to be uncollectible</em></u>
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Answer: c). a decrease in the government's budget surplus or an increase in its budget deficit.
Explanation: Budget surplus refers to the excess of government revenue from taxes and other sources over its expenditure. While, budget deficit refers to the excess of government expenditures over its revenue.
BS= T>G
BD= G>T
A decrease in the government's budget surplus or an increase in its budget deficit leads to an increase in the interest rate in the economy. Thus the correct option is c.
If the price level rose from 131 to 157 but economic output remained the same, real GDP would increase.
The price level has increased and the output is constant then the nominal GDP would increase.
- The term "Gross Domestic Product," or GDP, refers to the total monetary worth of all finished products and services produced (and marketed) inside a nation within a specific time period (typically 1 year). Purpose. GDP stands for "Gross Domestic Product" and reflects the total monetary worth of all finished products and services produced (and sold on the market) inside a nation during a specific period of time. GDP is the most often used indicator of economic activity (typically 1 year). Purpose. The most often used indicator of economic activity is the GDP.
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The U.S. imports more than it exports in part to supply the strong consumer demand.
