Answer: Positive and Normative
Explanation:
Positive economic analysis is basically something that is based on actual facts and cannot be approved or disapproved through views or opinions of others.
Whereas, normative economic analysis is something that focuses on the measure of how the policy is, whether good or bad or the way it should be or should become etc.
Rent control and federal farm programs are positive economic analysis. Its a fact.
Whether it is bad or good is normative economic analysis because you're able to value its fairness.
Answer:
Fixed
Explanation:
The government keeps the exchange rate FIXED the the same rate.
Answer:
Credit of $80,000
Explanation:
Big-Mouth Frog Corporation Calculation for Retained earnings
Using this formula
Retained earnings =Revenue- Expenses
Where,
Revenue =$200,000
Expenses =$180,000
Let plug in the formula
Retained earnings =$200,000-$180,000
Retained earnings =$80,000
Therefore when the Income Summary is closed to Retained Earnings, the amount of the credit to Retained Earnings will be $80,000
Answer:
Journal entries to record the expenses incurred are given below.
Debit Factory Overhead Control Account $ 1300
Credit Utilities bills account $ 700
Credit Accumlated factory depreciation $ 400
Credit property tax payable $ 200
Journal entries to record the allocation of overhead at the predetermined rate of $1.50 per machine hour are given below.
Debit WiP process account $ 525
Credit Factory overhead applied account $ 525
(1.5 * 350 (machine hours))
Answer:
d.An increase in accounts receivable.
Explanation:
The current ratio is one of the liquidity ratios. It measures the company's ability to meet its current liabilities. The higher the ratio, the more financially healthy a company is. The calculation of the current ratio is by dividing current assets by current liabilities.
Current assets include inventory, cash and cash equivalents, accounts receivable, and prepaid expenses . Examples of current liabilities include accounts payable, accrued liabilities like dividend, and payroll, Short-term debt, and the current portion of long-term debt.
An increase in current liabilities increases the current ration. The bigger the numerator is over the denominator, the better the current ratio.
