Answer:
Issued Bond was the liabilities for Transanomics Corp. It receives cash against the issuance of bonds.
Initial Journal Entry by Transanomics Corp.
Dr. Cr.
January 1, 2015
Cash $500,000
Note Payable $500,000
Answer:
a. Income from subsidiary will be lower by the amount of the ending inventory profit multiplied by the noncontolling interest percentage for downstream transfers.
Explanation:
When we transfer inventory from subsidiary to holding there will be some profit element included in cost. so when we consolidate the account of subsidiary to its holding at the time of reporting we should removed that unrealised profit included in the inventory.
<span>The use of personal selling, advertising, public relations and sales
promotion is known as the promotion mix.
</span><span>The promotional mix is one of the 4 Ps of the marketing mix. It consists of public relations, advertising, sales promotion and personal selling.</span>
Answer:
(C) Debit Office supplies, $500; credit Accounts payable, $500
Explanation:
Businesses maintain the office supplies inventory of supplies and record the supplies purchased into this account and expense it afterward with the usage of inventory. In this question offices supplies purchased will be debited to office supplies account. As it is purchased on account so it will be credited to account payable account to make a liability against the transaction.
Answer: 0
Explanation:
Firstly, we will calculate the nominal value in 2015 which will be:
= $500 x 1 million
= $500 million
The nominal value in 2016 will be:
= $1000 x 1 million
= $1 billion
Real GDP will be the price of the base year multiplied by the quantity of the current year which will be:
= $500 million x 1 million sets
= $500 million
Therefore, the increase in real GDP is zero.
