Base on my research, the gap that is stated in the problem is the inflationary gap. This is the amount of the real GDP go beyond potential full-employment GDP. Upon eliminating this gap the government forms a policy that will allow the potential GDP to be equal to the real GDP and higher the price level.
The bill of lading is the type of receipt that provides information showing that 2,000 air filtration units had been delivered to its warehouse.
<h3>What is a bill of lading?</h3>
A carrier will issue a bill of lading to confirm receiving cargo for shipment. A bill of lading can be used for any sort of good transportation today, despite the fact that originally the phrase was exclusively used to refer to shipping. A contract, a receipt attesting to the carrier's receipt of the goods, and a document of title are all purposes served by the bill of loading.
Consequently, it is a document that goes with freight that outlines the agreement between the shipper and the carrier and sets down the rules that apply to their interaction when products are transported. It provides information about the shipment's cargo and transfers ownership of the shipment to the designated recipient party.
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Answer:
a. credit to Paid-In Capital from Treasury Stock for $2650.
Explanation:
the complete journal entries required to record the 3 operations:
Dr Cash 162,000
Cr Common stock 54,000
Cr Additional paid in capital 108,000
Dr Treasury stock 13,780
Cr Cash 13,780
Dr Cash 16,430
Cr Treasury stock 13,780
Cr Additional paid in capital 2,650
Answer:
$5,400
Explanation:
Calculation to determine the estimated average income
Using this formula
Estimated average income=Expected total income yield/Useful life
Let plug in the formula
Estimated average income= $21,600 ÷ 4
Estimated average income= $5,400
Therefore the estimated average income is $5,400
Answer:
C. $16 of overhead cost should be assigned to each standard handbag and $40 of overhead cost should be assigned to each deluxe bag.
Explanation:
Given that
Total indirect manufacturing expected = $52000
And,
Total hours required to manufacture handbags is
= (2,000 standard handbags × 2 hours) + (500 deluxe handbags × 5 hours)
= 4,000 + 2,500
= 6,500
So,
Indirect cost per hour is
= $52000 ÷ 6500
= $8 per hour
Now
Cost allocated to standard handbags is
= $8 × 2
= $16
And, for deluxe handbag it is
= $8 × 5
= $40
