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2 years ago

Journalize the following transactions for Cullumber Company.

Business

1 answer:

Thepotemich [5.8K]2 years ago

3 0

Answer and Explanation:

The journal entries are shown below

On Sept 1

Supplies Dr $1,020

To Cash $1,020

(being supplies purchased in cash)

On Sept 5

Dividend Dr $410

To cash $410

(being cash dividend is paid)

On Sept 7

cash Dr 5,500

To Unearned service revenue $5,500

(being cash collection is recorded)

On Sept 16

Cash Dr $770

To Account receivable $770

(being cash collection is recorded)

On Sept 22

Equipment Dr $3,000

To cash $1,100

To Note payable $1,900

(being equipment purchased is recorded)

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if gdp is $15 trillion, consumption is $9 trillion, government spending is $2 trillion, investment is $3 trillion, and exports a

Sveta_85 [38]

The imports of this country are around $2 trillion.

The GDP of a nation refers to the value of all the final goods and services produced in the country in that year. It is calculated by the formula:

<em>GDP = Consumption + Government Spending + Investment + Exports - Imports</em>

15 = 9 + 2 + 3 + 3 - Imports

15 = 17 - Imports

Imports + 15 = 17

Imports = 17 - 15

Imports = $2 Trillion

In conclusion, the imports are $2 Trillion

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1 year ago

What is the profit maximization rule equation?

ValentinkaMS [17]

Answer:

mc=mr

Explanation:

This is because in economics, the profit maximization rule is represented as MC = MR, where MC stands for marginal costs, and MR stands for marginal revenue. Companies are best able to maximize their profits when marginal costs -- the change in costs caused by making a new item are equal to marginal revenues............................

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2 years ago

A mortgage requires you to pay $70,000 at the end of each of the next eight years. The interest rate is 8%.

bazaltina [42]

Answer:

PV $402,264.7261

balance of the mortage

1-y from now $364,445.9041

2-y from now $323,601.5765

3-y from now $279,489.7026

4-y from now $231,848.8788

5-y from now $180,396.7891

6-y from now $124,828.5322

7-y from now $64,814.8148

Explanation:

We sovle for the PV of the annuity of 70,00 during 8 years discounted at 8%

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 70,000.00

time 8

rate 0.08

$70000 \times \frac{1-(1+0.08)^{-8} }{0.08} = PV\\$

PV $402,264.7261

To know the value of the outstanding dbet we can repeat this formula changing the values for time

t = 7 $364,445.9041

t = 6 $323,601.5765

t = 5 $279,489.7026

t = 4 $231,848.8788

t = 3 $180,396.7891

t = 2 $124,828.5322

t = 1 $64,814.8148

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2 years ago

Phone calls are:________.

Y_Kistochka [10]

Answer:

The correct answer is letter "C": capable of offering the give-and-take of in-person conversations.

Explanation:

While talking about channels of communication, phone calls are useful to imitate the closest possible to face-to-face communication, with its limitations. The transmission of information is done in real-time and the participants can provide their points of view just as if they were talking in person.

Though, expressions cannot be captured. Many people over the phone can pretend to have a mood modulating their tone of voice even if their feelings are opposite.

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2 years ago

Somerset leasing received $50,400 for 24 months' rent in advance. how should somerset record this transaction?

butalik [34]

Maybe on a balance sheet, to keep track of everything monthly

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2 years ago