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Alex17521 [72]
3 years ago
10

Tyler and Camille both live in Oklahoma. A new-car dealer in Oklahoma bought a new car from the manufacturer for $17,000 and sol

d it to Tyler for $20,000. Later that year, Tyler sold the car to Camille for $15,000. By how much did these transactions contribute to U.S. GDP for the year
Business
1 answer:
Bond [772]3 years ago
7 0

Answer:

$20,000

Explanation:

Given that

New car bought from the manufacturer = $17,000

Sale value of the new car = $20,000

And, the car is sold to Camille for $15,000

So by considering the above information, the amount i.e to be contributed to U.S GDP is

= Sale value of the new car

= $20,000

It represents the finalized value of the goods and services and the same is to be considered

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Answer:

The options for this question are the following:

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7 0
4 years ago
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8 0
4 years ago
Drake Appliance Company, an accrual basis taxpayer, sells home appliances and service contracts. Determine the effect of each of
Nostrana [21]

Answer:

(a) $1,200

(b) $330

Explanation:

(a)

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  • The products were distributed throughout 2019 as well as the transaction for accounting information requirements was announced throughout 2019.

Therefore, in 2019, $1200 would include gross revenue  

(b)

<u>Service contract for 6 months will be:</u>

Drake would include gross income throughout 2019 of 120(40\times \frac{3}{6} ) ($)and gross income throughout 2020 of $120. In October year 2019, because a corporation offered a 6-month contract, total sales in 2019 represented just a 3-month service agreement.

<u>Service contract for 36 months will be:</u>

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Consequently,

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⇒  330 ($)

5 0
3 years ago
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