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AlexFokin [52]
3 years ago
15

What term means an explosive and seemingly uncontrollable inflation in which money loses value rapidly and may even go out of​ u

se? A. deflation B. hyperinflation C. stagflation D. maginflation
Business
1 answer:
kirill115 [55]3 years ago
8 0

Answer:

hyperinflation

Explanation:

Hyperinflation is a term in economics that denotes an out-of-control, rise in prices of goods and services . When the inflation rate is rapidly rising, say by more than 50% per month, then it is a case of hyperinflation.

Hence, hyperinflation is an explosive and seemingly uncontrollable inflation in which money loses value rapidly and may even go out of​ use.

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Dobson Construction specializes in the construction of commercial and industrial buildings. The contractor is experienced in bid
sweet-ann [11.9K]

Answer:

Dobson Construction

a) Percentage of completion = $2,400,000/$6,000,000 * 100

= 40%

b) Gross profit for 2018:

Contract Revenue based on 40% = $3,200,000

Costs incurred to date                        2,400,000

Gross profit                                          $800,000

c) Journal Entry to record the income:

Debit Accounts receivable $4,500,000

Credit Contract Revenue $3,200,000

Credit Unearned revenue $1,300,000

To record the contract revenue for the year.

Debit Cost of Contract $2,400,000

Debit Electrical and Mechanical Materials $210,000

Credit Cash $2,610,000

To record the contract cost incurred for the year.

Debit Cash $3,800,000

Credit Accounts receivable $3,800,000

To record the billings collected during the year.

d) Accounts and amounts on the Balance Sheet at the end of 2018:

Assets:

Accounts receivable       $700,000

Electrical Supplies              210,000

Cash                                 1,190,000

Liabilities:

Unearned income        $1,300,000

Income                              800,000

e) The loss that Dobson would report for the year 2018 is:

= $36,000.

Explanation:

a) Data and CAlculations:

Lump-sum price (contract price)                    $8,000,000

Estimated costs:

Labor                                             $1,700,000

Materials and subcontractor        3,500,000

Indirect costs                                    800,000 6,000,000

Estimated profit                                             $2,000,000

At the end of the first year, the following was the status of the contract:

Billings to date $4,500,000

Costs incurred to date

Labor                                       $928,000

Materials and subcontractor 1,296,000

Indirect costs                            386,000

Total costs incurred to date  2,610,000

Less Electrical and mechanical

materials stored on job site    210,000

Adjusted costs incurred       2,400,000

Latest forecast total cost     6,000,000

Billings collected during the year = $3,800,000

e) Latest forecast total costs = $8,120,000

Contract revenue =                    8,000,000

Loss =                                           $120,000

Percentage of completion = $2,400,000/$8,120,000 * 100 = 30%

Loss to report for the year = 30% of $120,000 = $36,000

3 0
2 years ago
In part, a transaction affects the accounting equation by decreasing an asset. There is no effect on liabilities. Which of the f
Simora [160]

Answer:

If other assets are unchanged, stockholders' equity must be decreasing.

Explanation:

By using Accounting Equation as follow:

Asset = Equity + Liability

Tot make the equation balance we have to ensure that the effect on it will also has balancing effect.

Decrease in assets might result in decrease in equity or liability and increase in other assets, but here the liability is constant. There could be only two effect that decrease in equity and increase in other asset. There is no option which shows the increase in other asset. So the decrease in equity is the option will has correct effect to balance the accounting equation all other dis-balance the equation.

6 0
3 years ago
28-In​ 2008, in order to encourage people to spend more money and stimulate the​ economy, Congress passed the American Reinvestm
pishuonlain [190]

Answer: D Fiscal Policies

Fiscal policies refer the adjustments made by the government to tax policies and government spending in order influence the level of economic activity in a country.

The main aim of a fiscal policy is to stabilize the economy while trying to avoid the impact of excessive growth and recessions.

In the question, the government passed a bill that authorized spending on infrastructure, healthcare etc. This was done in order to increase employment and ultimately increase aggregate demand. Hence this is a fiscal policy.

8 0
3 years ago
you are purchasing a used car and will make 5 annual payments of $3,500 starting one year from today. if your funds could be inv
Jet001 [13]

The present value of the car is $13,614 for funds invested at 9% and annual payments of $3,500 starting one year from today.

Using the Excel Present Value formula, which reads as follows, one can calculate the car's present value:

The formula is PV (rate, n per, PMT, fv, type)

where as,

After that rate is 9%

In that case, n per is equal to 5 years.

The PMT now requires $3,500 in annual payments.

FV then stands for Future Value, which is not provided.

But Type is 0

Then we are putting the values of annual payments above:

Now put the value is = PV(9%,5,-3500,0)

After that = $13,613.78 or $13,614

Consequently, the car's present value is $13,614 in total.

learn more about  Present Value here

brainly.com/question/28304447

#SPJ4

4 0
1 year ago
During the year, Bears Inc. recorded credit sales of $620,000. Before adjustments at year-end, Bears has accounts receivable of
AleksandrR [38]

Answer:

Bad Debt Expense Dr. $28050        

Allowance for Uncollectible accounts Cr. $28050

Explanation:

given data

credit sales = $620,000

accounts receivable = $320,000

past due = $55,000

credit balance = $2,600

rate = 7 %

rate = 22 %

solution

so here Not yet past due is = $320,000 - $55,000 -

Not yet past due = $265,000

and

past due = $55,000

so  Required provision is

Required provision = $265,000 × 7 % + $55,000 × 22 %

Required provision = $30650

and

Opening balance is $2,600

so

Required expense for year = $30650 - $2,600

Required expense for year  = $28050

so here

correct entry is

Bad Debt Expense Dr. $28050        

Allowance for Uncollectible accounts Cr. $28050

8 0
3 years ago
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