Answer:
Cost of delivery van = $20,000
Accumulated depreciation of equipment = $16,000
Annual depreciation on this equipment = $2,000
Therefore, the journal entry is as follows:
On December 29, 2020
Depreciation expense A/c Dr. $2,000
To Accumulated depreciation-Delivery van $2,000
(To record the depreciation expense of the year)
Answer:
The Journal entries are as follows:
(1) On July 1,
Retained earnings A/c [1,166 × $14] Dr. $16,324
To common stock distributable [1,166 × $2] $2,332
To paid-in-capital in excess of par- common stock $13,992
(To record declaration of stock dividend)
(2) On July 20,
common stock distributable A/c Dr. $2,332
To common stock $2,332
(To record distribution of the stock dividend)
Workings:
Common stock outstanding = 10,600 shares
Stock dividend declared = 11%
No. of common stock declared as dividend = 10,600 × 11%
= 1,166 shares
It is the <span>Direct Subsidized </span><span>Loans</span>
Answer:
The gross profit margin for the cat condo is 50%
Explanation:
Since the gross profit per unit is not given, so first we have to find it. The calculation is shown below:
= Selling price per unit - Direct materials cost per unit - direct labor costs per unit - Manufacturing overhead per unit
= $90 per unit - $15 per unit - $10 per unit - $20 per unit ( $10 per unit × 200%)
= $45 per unit
Now apply the Gross profit formula which is shown below:
= (Gross profit per unit ÷ selling price per unit) × 100
= ($45 per unit ÷ $90 per unit) × 100
= 50%
Answer:
1) The GDP deflator for this year is calculated by dividing the - (B) Value of all goods and services produced in the economy this year - using - (B) this year's prices - by the - A) Value of all goods and services produced in the economy in the base year - using - (A) the base year's prices
To calculate the GDP deflator, we divide the nominal GDP for the selected year, by the Real GDP of the base year, and we multiply the result by one hundred.
2) The CPI reflects only the prices of all goods and services - (B)bought by consumers
The CPI is a measure of the change in price of a selected basket of goods and services, usually those goods and services that consumers buy the most, whether they are produced domestically or not.
3) Which does an increase in the price of a Chinese-made car that is popular among U.S. consumers show up in? - (b) CPI
As explained above, the CPI measures the price of goods and services that are commonly bought by consumers. It does not matter if the good is produced in the U.S. or China.
4) Which does a decrease in the price of a Treewood Equipment feller buncher, which is a commercial forestry machine that cuts and stacks trees show up in? - (a) GDP Deflator
It shows up in the GDP Deflator because the good is not a common good purchased by consumers. It is a good only consumed by those involved in the tree cutting business.
