Answer:
Explanation:
If the government changes taxes without changing government spending to eliminate the recessionary gap, will the minimum required change in taxes be greater than, smaller than, or equal to the minimum required change in government spending?
The minimum required change in taxes will be greater than that of the minimum required change in government spending
tax multiplier (mpc/mps = 0/8/0.2=0.4) is smaller than the government spending multiplier (1/mps= 1/.2=5) because of the initial increase in disposable income caused by the decrease in income tax will be saved rather than spent
Answer: See explanation
Explanation:
The general journal entries necessary to adjust the interest accounts at December 31 will be:
1. December 31:
Debit: Interest Expenses = $8,000 × 9% × 51/ 360 = $102
Credit: Interest payable = $102
(To accrue interest expenses for the note issued on November 10).
2. December 31:
Debit: Interest Expenses = $12,000 × 10% ×30/360 = $120
Credit: Interest payable = $120
(To accrue interest expenses for the note issued on December 1)
3. December 31:
Debit: Interest Expenses = $12,000 × 10% × 11/360 = $36.67
Credit: Interest payable = $36.67
(To accrue interest expenses for the note issued on December 20).
Answer:
Journal Entries
Journal 1 :
Equipment $23,400 (debit)
Cash $23,400 (credit)
Being Purchase of Equipment
Journal 2 :
Cash $6,800 (debit)
Service Revenue $6,800 (credit)
Being Service rendered for Cash
Journal 3 :
Salaries Expense $2,100 (debit)
Cash $2,100 (credit)
Being Salaries expense paid
Explanation:
Narrations have been provided to explain the transaction. Remember to use the account titles provided in accounting for the transactions.
Answer: A company maintains a website that provides information about its products and that provides an address or number that a customer can contact to obtain an order form to purchase products directly from the company.
Explanation:
With different states having varying laws but yet still sharing a lot of business interests, it is important that the states know when they can have jurisdiction over a person.
Minimum contacts is the solution and is used to determine whether an entity has sufficient contacts in a state to warrant jurisdiction over them.
Simply having a website that can be accessed by people in a state does not fall under the provisions required for minimum contact to be met so the courts in this state cannot have personal jurisdiction over this company.
