Answer:
Annual depreciation= $10,000
Explanation:
Giving the following information:
The total acquisition cost was $33,000. The machine has an estimated useful life of 3 years and a salvage value of $3,000.
To calculate the depreciation expense under the straight-line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (33,000 - 3,000)/3
Annual depreciation= $10,000
Answer:
Debit cash $3,390
Credit sales revenue $210
Cales tax payable $3,180
Explanation:
Preparation of the journal entry to record the information given.
Journal entry
Debit cash $3,390
($3,180+$210)
Credit sales revenue $210
Cales tax payable $3,180
Answer:
✔️Demand Pull Inflation:
1. Too much money chasing too few goods
2. Stiff competition among consumers
✔️Cash Pull Inflation:
1. Increase in cost of production
2. Decrease in supply of goods and services
3. Aim of sellers is to maximize profit
Explanation:
Demand pull inflation is often caused by the increase in the aggregate demand of outputs than an economy can produce as a result of increased government spending, expanding economy and so on.
On the other hand, cash pull inflation is caused by the decrease in aggregate supply of goods and supply as result of increased cost of the factors of production.
Thus, let's match each description to the types of inflation they belong to:
✔️Demand Pull Inflation:
1. Too much money chasing too few goods (excess demand as a result of expanding economy)
2. Stiff competition among consumers (businesses, households, governments and foreign buyers bid prices up and compete to purchase the limited available goods and services)
✔️Cash Pull Inflation:
1. Increase in cost of production (this pushes the cost of goods and services up)
2. Decrease in supply of goods and services (aggregate supply decreases)
3. Aim of sellers is to maximize profit (as production cost increase, sellers would have to increase the price of goods and services in order not to run at a loss).
Answer:
D
Explanation:
Because the higher the quality of materials the more efficient the product will be
