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3 years ago

List the three basic economic systems. How does each answer the basic economic questions?

Business

1 answer:

Mama L [17]3 years ago

7 0

Answer:

command economy, market economy and traditional economy

Explanation:

in the command economy the government answer the question of what to produce, how to produce and to whom. the government determines investment and income.

in the market economy: the economy decision of investment and income, production and distribution is determine by the price according to the law of demand and supply

traditional economy: is an economic system that is signaled by the custom, belief and traditions of the people which influences goods and services the economy produces, how it is produce and who uses the product.

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Swifty Company purchased equipment for $256,800 on October 1, 2020. It is estimated that the equipment will have a useful life o

enot [183]

Answer:

a. Straight line method.

Depreciation per annum = ($ 256,800 - $12,000 ) / 8 = $ 30,600.

Depreciation for 2020 = $ 30,600 * ( 3 /12 ) = $ 7,650.

b. Units of output

Depreciation per unit = ( $ 256,800 - $ 12,000 ) / 48,000 = $ 5.1

Depreciation for 2020 = 1,000 * $ 5.1 = $ 5,100.

c. Working hours.

Depreciation per hours = ( $ 256,800 - $ 12,000 ) / 20,400 = $ 12

Depreciation for 2020 = 600 * $ 12 = $ 7,200.

D. Sum of digits method

Sum of years = 8 ( 8 +1 ) / 2 = 36.

Year - 1 used ( 3 / 12 = 0.25)

Year-2 used ( 12 / 12 = 1 )

Remaining ( 8 - 1 - 0.25 = 6.75)

Depreciation for 2022 = ($ 256,800 - $ 12,000 ) * ( 6.75 / 36 )

Depreciation for 2022 = $ 45,900.

e. Double declining balance

Depreciation rate = 200 / 8 = 25 %.

Depreciation for 2020 = $256,800 * 25 % * (3 /12)

Depreciation for 2020 = $16,050.

Depreciation for 2021 = ( $256,800 - $ 16,050) * 25%

Depreciation for 2021 = $60,188.

3 0

3 years ago

If a journal entry and posting for the use of office supplies during the year is accidentally omitted, what would be the impact

jolli1 [7]

<span>It is imperative to have accurate information when completing year end financial statements. If a journal entry and posting for the use of office supplies was omitted in error, the financial statements would not be complete, and the company could possibly lose out on a tax deduction.</span>

4 0

3 years ago

_____ is collected by outside organizations such as federal and state governments, trade associations, nonprofit organizations,

Zepler [3.9K]

Answer: External secondary data

Explanation:

External secondary data are data gathered and saved by someone or a body that is not part of one's organization. Sources of External secondary data includes published materials, computerised databases and syndicated services.

Note that how difficult or easier it will be getting a secondary data will depend on the methods used in storing and indexing it.

6 0

4 years ago

During the annual fund-raising drive, the Cancer Society raised $900,000 in pledges of financial support for general operations.

Gnoma [55]

Answer:

$ 870,000

Explanation:

Given data:

The funds raised by the cancer society = $ 900,000

The amount that has been collected back = $ 600,000

The amount that is uncollectible = 10% of the remaining amount

i.e 10% of ( $ 900,000 - $ 600,000 ) = $ 30,000

Therefore,

the net amount of revenue the society should recognize during the current year from this pledge drive is calculated as:

= The funds raised by the cancer society - The amount that is uncollectible

= $ 900,000 - $ 30,000

= $ 870,000

4 0

3 years ago

Help on this question please

nasty-shy [4]

Hello!

The answer is:
-A credit card can be used to pay for services, and the user agrees to pay these charges at a later time.

I hope this helped you!

4 0

3 years ago