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3 years ago

6. (a) Outline two forms of assistance given to Entrepreneurs by the government.

1 answer:

5 0

A. One form of assistance given to entrepreneurs by the government is subsidized loans through the Small Business Administration to help get started. Local governments may help entrepreneurs by giving them tax incentives like not charging them property taxes for a set period of time if they locate their new business in their town or county.

B. The government should assist entrepreneurs because new businesses normally mean new jobs, and it is very important to keep the job market healthy. Another reason that they should help entrepreneurs is because small businesses often make big contributions to society, so by helping the small businesses they are helping people in general. For example, a small business that takes care of elderly people in their home are improving the quality of life for the elderly people so that they don’t need to move to a nursing home.

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Compare the demand for sugar with demand for food. the demand for sugar is likely

Digiron [165]

The answer is D.More elastic because sugar tends to represent a larger fraction of a consumer's budget

4 0

3 years ago

On January 1 of Year 1, Bryson Company obtained a $147,750, four-year, 7% installment note from Campbell Bank. The note requires

Murljashka [212]

Installment note from Campbell Bank.

1-Jan Note intt expense Decrease 31-Dec

Amortization of Installment Notes Carrying payment 7% in Carrying

Year ending December 31 amount cash paid notes payable amount

year 1 147,750 43,620 10343 33,278 114,473

year 2 114,473 43,620 8013 35,607 78,866

year 3 78866 43,620 5521 38,099 40,766

year 4 40766 43,620 2854 40,766 0

b) Journal Entries

Date Account titles & Explanations Debit Credit

year 1 1-Jan Cash 147,750

Notes payable 147,750

(to record issuance of note)

year 1 31-Dec Interest expense 10343

Notes payable 33,278

cash 43,620

(to record interest expense)

year 2 31-Dec Interest expense 8013

Notes payable 35,607

cash 43,620

(to record interest expense)

year 3 31-Dec Interest expense 5521

Notes payable 38,099

cash 43,620

(to record interest expense)

year 4 31-Dec Interest expense 2854

Notes payable 40,766

cash 43,620

(to record interest expense)

c) interest expense of 10,343 would be reported on the income statement of Bryson Company.

Learn more about installment notes at

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#SPJ4

6 0

2 years ago

An economy enters an expansion and GDP increases from $34,000 to $40,000. What is the percent change in real GDP? Round your ans

Blababa [14]

The percent change in real GDP is 17.65%

<h3>What is the GDP of an economy?</h3>

The gross domestic product (GDP) is the sum of all value contributed to a given economy. The value-added is the difference between the value of the products and services produced and the value of the goods and services required to produce them.

The percent change in real GDP can be calculated by using the formula:

$\mathbf{=\dfrac{New \ GDP - Old \ GDP}{Old \ GDP } \times 100}$

$\mathbf{=\dfrac{40000 -34000}{34000 } \times 100}$

= 17.65%

Learn more about gross domestic product (GDP) here:

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6 0

2 years ago

Thomas Martin receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 hours during a week

baherus [9]

<u>Answer:</u> $735

<u>Explanation:</u>

Calculation of regular earnings

Earnings at regular rate= Wage rate per hour x hours of work

= (15 x 40)

=$600

Calculation of additional hours income

Earnings at overtime rate=( 6(15 x 1.5))

=$135

Total gross pay = 600+135

=$735

The gross pay for martin is $735. The other deductions are made in the gross pay to arrive at the net pay. Deductions such as federal income tax, security tax rate and medicare tax rate is deducted from gross pay to find net pay.

5 0

3 years ago

Tracy and Lance, equal shareholders in Macaw Corporation, receive $600,000 each in distributions on December 31 of the current y

Lorico [155]

Answer:

B. $300,000

Explanation:

Macaw Corporation increased its E & P last year for the entire amount of the deferred gain on the installment sale. Since one-half of the $800,000 gain is included in taxable income in the current year, taxable income should be reduced by this amount to determine current E & P. Therefore, Macaw Corporation’s current year E & P is $600,000 ($1 million taxable income – $400,000 of installment sale gain). Because one-half of the current E & P is allocated to Tracy’s distribution, she has a $300,000 dividend

6 0

3 years ago