Answer:
The firm will pay $8,052,550 in lump sum after 5 years
Explanation:
A = P(1+r)^n
A= 5,000,000 * (1+0.10)^5
A= 5,000,000 * (1.10)^5
A= 5,000,000 * 1.61051
A= 8,052,550
Thus, the firm will pay $8,052,550 in lump sum after 5 years
Costs that are shared by multiple cost objects in a company are known as common costs.
<h3>What is cost?</h3>
Cost involves expenses that are incurred either in production or purchase of goods and services. Common cost consist of all cots incurred, it is not attached to any specific cost object, such as a product or process.
When cost is attached to particular cost it can be given a name.
Example is overhead cost of production, direct cost and indirect costs.
Therefore, Costs that are shared by multiple cost objects in a company are known as common costs.
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GDP refers to the total value of goods and services produced by resident and non-resident during a year in a country.
<h3>What is GDP?</h3>
Gross Domestic Product refer to the gross value (in terms of money) of finished goods and services produced in a country within a year by resident and non-resident in domestic territory of the country.
The above option I and II describes the factors considered for calculation of GDP, i.e. Goods produced by citizens as well as non-resident within a country.
Therefore, option c aptly describes the factors considered for calculating GDP.
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Answer:
<em><u>The correct answer is:</u></em> Achieve higher per person income levels, but they also have higher poverty rates.
Explanation:
What happens is that in countries with greater economic freedom, there is the free market, which is an economic form of the capitalist system that allows trade to be conducted free of external forces, being guided by the law of supply and demand. This system allows greater economic interaction with internal and external economic agents whose main objective is to generate profits.
The strong industrialization resulting from the capitalist system causes the greatest economic growth in a country and can increase the levels of per capita income, but it also generates greater social inequality that directly affects the growth of poverty rates. Generally, the main indicators of economic growth, such as GDP, have some limitations to indicate the distribution of wealth because they do not consider variables that include the well-being of the population.
Answer:
a.
Oct 1 Cash $240 Dr
Unearned Subscription Revenue $240 Cr
b.
Dec 31 Unearned Subscription Revenue $60 Dr
Subscription Revenue $60 Cr
Explanation:
a.
The receipt of $240 upfront in advance from a customer is a liability for the business as the business has received cash for service that is yet to be provided. The business will record this as a debit to the cash account and credit to a liability account of Unearned Service Revenue.
b.
On 31 december, the business has provided magazines for 3 months thus it has earned revenue for 3 months. The revenue for 3 months is,
Revenue per month = 240 / 12 = 20
For 3 months = 20*3 = 60
The business will record this as a credit to the subscription revenue and a debit to the unearned subscription revenue
