1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alekssandra [29.7K]
2 years ago
7

In the economy, tax revenue collected by the government this year is $15 million and government outlays are $13 million. This co

untry currently has a ____. Multiple Choice budget deficit of $3 million. budget surplus of $2 million public debt of $2 million budget surplus of $3 million
Business
2 answers:
zubka84 [21]2 years ago
6 0

Answer:

budget surplus of $2 million

Explanation:

When income or receipt increases from the outlay, then budget surplus arises. Whereas when outlay increases from the income or receipts the budget deficit arises.

Revenue Collection for the year = $15 million

Government outlay for the year = $13 million

Budget Surplus / Deficit = $15 million - $13 million = $2 million budget Surplus

Maksim231197 [3]2 years ago
4 0

Answer:

Budget surplus of $2 million

Explanation:

Tax revenue collected = $15 million

Government outlays = $13 million

Government outlays are government expenditures made by a government in the form of a kind service ( cash disbursement ) which are recorded for the purpose of determine the overall government spending in relation to generated revenue.

since the outlays are lower than the revenue collected there is most likely a budget surplus ( $15 million - $13 million = $2 million ).

You might be interested in
Traditionally, life insurance companies, pension funds, and brokerage firms are known as ________.
Elodia [21]
Nonbanks.......................................................
3 0
3 years ago
URGENT PLEASE HELP ILL GIVE BRAINLIEST TO FIRST ANSWER find how much you need to deposit each year to have $10,000 in 5 years at
rjkz [21]
Is the 3 % an annual rate or monthly rate? Whats the initial amount deposited?
Then I can better help answer your question.
3 0
2 years ago
Wilma’s Vegetable Market had the following transactions during 2017:
babymother [125]

Answer:

Journal Entries are as follows.

Explanation:

1.   Cash               $25,000 (Debit)

          Common Stock                              $ 25,000 (credit)

2.   Wages             $10,000  (debit)

               Cash                             $10,000 (credit)

3.  Land                         $ 50,000 (debit)

           Common Stock                        $50,000  (credit)

4.    Dividend Declared    $ 1000  (debit)

                    Dividend Payable            $ 1000 ( credit)

And

   Dividend Payable            $ 1000 ( debit)

                 Cash                           $ 1000 (credit)

5.        Cash               $ 3000  (debit)

              Long Term  Investment            $ 3000 (credit)

6.     Cash                    $ 20,000  (debit)

                Sales                        $ 20,000        ( credit)

7.       Inventory           $2000 (debit)

            Cash                      $ 2000  (credit)

8.      Investment                 $ 6000 ( debit)

               Cash                                             $ 6000 (credit)

9.  Bonds Payable                   $ 10,000  (debit)

                 Discount                             $ 1000 (credit) ( if there's any)

                  Common Stock               $ 9,000 ( credit ) ( in case of discount)

10.    Notes Payable                             $ 10,000  (debit)

Interest on Notes Payable                    $ 1,000 (debit) ( suppose there's interest of $ 1000 on $ 10,000 Notes Payable)

                         Cash                                                    $ 11,000 (credit)

4 0
3 years ago
Hart Attorney at Law experienced the follwoing transactions in 2016, the first year of operations:
Korolek [52]

Answer:

I used an excel spreadsheet since there is not enough room here.              

Explanation:

Download pdf
6 0
3 years ago
Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its aver
blsea [12.9K]

Answer:

$12.45

Explanation:

Calculation to determine what the contribution margin per unit sold is closest to:

First step is to calculate the Variable cost per unit using this formula

Variable cost per unit = Direct materials per unit + Direct labor per unit + Variable manufacturing overhead per unit + Sales commissions per unit + Variable administrative expense per unit

Let plug in the formula

Variable cost per unit = $5.15 + $5.30 + $1.95 + $0.60 + $0.55

Variable cost per unit = $13.55

Now let determine the Contribution margin per unit using this formula

Contribution margin per unit = Selling price per unit - Variable cost per unit

Let plug in the formula

Contribution margin per unit = $26.00 - $13.55

Contribution margin per unit = $12.45

Therefore the contribution margin per unit sold is closest to:$12.45

4 0
2 years ago
Other questions:
  • The United States Navy purchases uniforms from a single supplier. For the last twenty-five years, the trousers purchased from th
    6·1 answer
  • Which term describes judging an individual based on the group to which they belong?
    9·2 answers
  • Which of the following statements is correct about the requirements of an LLP?
    14·1 answer
  • In building a marketing presence on F a c e b o o k, you find that you have to spend a lot of time copying content from your T w
    8·1 answer
  • WILL GIVE BRAINLIEST, PLEASE HELP ASAP!
    5·2 answers
  • Abby Cleaning Services planned to provide cleaning services to 50 customers for $30 per hour during the month. Each job was expe
    7·1 answer
  • F the decrease in the supply of a product is greater than the increase in its demand, _____.
    12·1 answer
  • Earley Corporation issued perpetual preferred stock with a 10% annual dividend. The stock currently yields 8%, and its par value
    7·1 answer
  • The following transactions occurred last year at Jogger Corporation: Issuance of shares of the company's own common stock $ 110,
    10·1 answer
  • Nominal gdp is a good snapshot of the current value of production in an economy but it cannot be used to make comparisons over t
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!