Why is it important to be informed about economic activity

an economy where more money is being collected than is being allocated or spent is known as what type of economic stance

nlexa [21]

It is known as Contractionary.

4 0

3 years ago

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Presented below is information related to Novak Manufacturing Corporation.

svet-max [94.6K]

Answer:

A. Assets Original Salvage Depreciable Depreciable SL Depreciation

Cost Value value Life Per Year

A $46,575 6,325 40,250 10 $4,025

B $38,640 5,520 33,120 9 $3,680

C $41,400 4,140 37,260 9 $4,140

D $21,850 1,725 20,125 7 $2,875

E $27,025 2,875 24,150 6 $4,025

Total $175,490 20,585 154,905 $18,745

Composite rate of Depreciation = Total Depreciation per year/Total Original Cost

Composite rate of Depreciation = 18745/175490

Composite rate of Depreciation = 0.106815

Composite rate of Depreciation = 10.68%

B. Adjusting entry Debit Credit

Depreciation Expense-Plant Asset $18,745

Accumulated Depreciation-Plant Asset $18,745

c. Journal Entry Debit Credit

Cash $5,520

Accumulated Depreciation-Plant Assets $16,330

Asset D $21,850

(Record Sale of asset D)

5 0

3 years ago

Pharoah Corporation provides its officers with bonuses based on net income. For 2017, the bonuses total $384,900 and are paid on

Keith_Richards [23]

Answer: Pharaohs journal $

Date

December 31, 2017

StaffBonusexpensesDr384,900

Accruede liability Cr384,900

Narration. Staff bonus due as at date.

February 15,2018

Accrued liability Dr 384, 900

Bank Cr. 384,900

Narration. Payment of staff bonus due

Explanation:

In line with the acrual concept of recognising expenses at the period they are due for payment. The staff bonus will be recognized as an expense to the income statement in 2017 and accrued as liability in the balance sheet if it's not paid.

The payment in 2018 will be a debit to the liability account and credit to the cash or bank account.

5 0

3 years ago

Pls help!!!!

Crank

I won’t write the sentences for you however i can give you some ideas....
1. one of the most important even i think would be in 2007 when apple created the very first mobile internet (this could also apply to you too)
2. what u think will happen in the next 20 years is that we are going to move away from mobile devices and towards maybe a chip in your head or a sort of device something similar to VR

3 0

3 years ago

Suppose that in your first year of college you spend $31,300.00 more than you eam. In your second year, your expenses increase a

ryzh [129]

Answer: See explanation

Explanation:

Based on the information provided in the question, the deficit in the 3rd year of college will be: = $32,150

The total debt that one owes in the 3rf year will then be the addition of the debts from the 1st to the 3rd year and this will be:

= $31,300 + $31,900 + $32,150

= $63,232

5 0

3 years ago

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