The accounting entry is to Credit Cash for 25000 and Debit Common Stock for 25,000
<h3 /><h3>What is journal entry?</h3>
Journal entry shows how a business financial transactions are being recorded.
Typically, when cash is withdrawn from a business or personal account, the accounting entry is to credit the cash account.
Hence, the accounting entry is to Credit Cash for 25,000 and Debit Common Stock for 25.000.
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Answer: c. Over time, developing economies become richer, and developed economies become poorer, until they reach the same level of wealth.
Explanation:
The Solow model which is a neoclassical framework focuses on long term Economics and does indeed speak to the convergence of the Real GDPs of Developed Countries with that of Developing countries.
However, of all the options listed, Option C goes against the model because convergence cannot happen if the Developed Countries keep getting richer while Developing countries keep getting poorer. Should that happen, they will never get to the same level of wealth and indeed might end up on opposite sides of the wealth spectrum with Developed Countries being extremely wealthy and Developing countries being extremely poor.
For convergence to happen, the conditions in A, B and D are preferable as they can indeed bring about the said convergence.
Answer:
The correct answer is: 1. Functional.
Explanation:
A functional strategy is one that requires the HOW? Do, operate, function, that is, after delimiting the corporate strategy that specifies what to do ?, the functional strategy, indicates how to apply and use resources to achieve what you want to achieve.
A functional area of the company adopts this type of strategy to achieve the objectives embodied in the strategy of the corporation, maximizing the resources available and their productivity. In addition, it seeks the care and development of functional and operational capacity in order to achieve a competitive advantage to the company.
These strategies generate a frame of reference used by the administration of operations and functions to support the organizational and business strategy.
Answer:
Since 2019, the deduction limit for interest expense deductions on qualified higher education loans is $2,500. In order to qualify for this deduction, the taxpayer's adjusted AGI must be less than $85,000 for single filers (Lionel's income is below the threshold).
So Lionel will be able to deduct $1,440 as interest expense (above the line deduction).
Lionel can also deduct $2,500 form the American Opportunity Tax Credit for higher education expenses.
Answer:
cost of goods sold is $197,800
ending inventory is $55,000
Explanation:
LIFO System is an Inventory Management Method that sells the Recent Inventory Acquired First followed by older Inventory.
<u><em>Cost of Goods Sold</em></u>
March 14 = (1,380×$62) = $85,560
August 31 = (1,130×$80) = $90,400
= (70×$62) = $ 4,340
= (350×$50) = $ 17,500
Total = $197,800
<em><u>Closing Inventory</u></em>
(1,100×$50) = $55,000
