The GDP means gross domestic product. When it increases then it means the economy is getting stronger or is already strong. If it decreases then it becomes weaker or is already weak.
Answer:
Soundgarden Company
Journal Entries:
July 10, 2020:
Debit Cash Account (or Accounts Receivable) $800,000
Credit Sales Revenue $800,000
To record the sale of 200 copiers at $4,000 apiece.
July 10, 2020:
Debit Warranty Expense $66,000
Credit Warranty Liability $66,000
To record the estimated warranty maintenance on copiers sold.
December 31:
Debit Warranty Liability $17,000
Credit Inventory $17,000
To record actual warranty costs incurred.
Explanation:
Soundgarden should record these transactions according to the matching principle, whereby warranty expense is recognized in the period that matches the sale so that all expenses related to sales are recognized when the sales are recognized. This is achieved by creating a warranty liability account after the sales and recording a warranty expense as the debit entry. When actual warranty costs are incurred, the Soundgarden Company will debit the warranty liability and credit the inventory actual for the actual costs.
<span>Monetary Policies in the United States are regulated by the Federal Open Market Committee (FOMC) which is a sister arm of the Federal Reserve Board and it says which direction the financial bearings and adjustment of the united state financial conditions sway towards A vote to transform the financial outcome of United States by this FOMC through it's monetary policies can either purchasing or offering US government securities in the open market to build up the advancement of the country.</span>
Answer:
92.86%
Explanation:
Debt-to-income ratio is a comparison or personal debts against income. It is used to assess an individual ability to accommodate more debts.
The formula for for calculating Debt to income is
Debt to income is <u> Total of Monthly Debt Payments </u>
Gross Monthly Income
For Affan, Total debts are $450 + $375 + $50+ $100 =$ 975
Gross income is not given , we use net income which is $1,050
Debt to income ration = $975/$1050
= 0.92857 x 100
= 92.86%
