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Mariulka [41]
2 years ago
13

Gross Domestic Product is a ________measurement of standard of living because ________.

Business
1 answer:
NISA [10]2 years ago
8 0

Answer: A. imperfect; not all important determinants of standard of living are incorporated.

Explanation:

The gross domestic product refers to the monetary value of the goods and the services which are produced in a nation.

Gross Domestic Product is an imperfect measurement as it excludes non-market transactions such as the activities of mothers etc. Also, it doesn't account for income inequality in the society. Therefore, not all the important determinants of standard of living are incorporated.

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Post the journal entries to the​ T-accounts, using transaction dates as posting references in the ledger accounts.
umka2103 [35]

Answer:

July 1. Yardley contributed $68,000 cash to the business in exchange for common stock.

Dr cash 68,000

    Cr common stock 68,000

July 5. Paid monthly rent on medical equipment, $510.

Dr rent expense 510

    Cr cash 510

July 9. Paid $16,000 cash to purchase land to be used in operations.

Dr land 16,000

    Cr cash 16,000

July 10. Purchased office supplies on account, $1 ,600.

Dr office supplies 1,600

    Cr accounts payable 1,600

July 19. Borrowed $26,000 from the bank for business use.

Dr cash 26,000

    Cr notes payable 26,000

July 22. Paid $1,100 on account.

Dr accounts payable 1,100

    Cr cash 1,100

July 28. The business received a bill for advertising in the daily newspaper to be paid in August, $250.

Dr advertising expense 250

    Cr accounts payable 250

July 31. Revenues earned during the month included $6,300 cash and $5,300 on account.

Dr cash 6,300

Dr accounts receivable 5,300

    Cr service revenue 11,600

July 31. Paid employees' salaries $1 ,900, office rent $1 ,400, and utilities $600. Record as a compound entry.

Dr wages expense 1,900

Dr rent expense 1,400

Dr utilities expense 600

    Cr cash 3,900

July 31. The business received $1 ,340 for medical screening services to be performed next month.

Dr cash 1,340

    Cr unearned revenue 1,340

July 31. Paid cash dividends of $6,900.

Dr dividends 6,900

    Cr cash 6,900

cash

              debit                    credit

July 1      68,000

July 5                                  510

July 9                                  16,000

July 19    26,000

July 22                                1,100

July 31    6,300

July 31                                  3,900

July 31    1,340

July 31     <u>                             6,900</u>

               101,640

accounts receivable

              debit                    credit

July 31    5,300

office supplies

              debit                    credit

July 10   1,600

land

              debit                    credit

July 9     16,000

accounts payable

              debit                    credit

July 10                                1,600

July 22   1,100

July 28   <u>                            250     </u>

                                          750

unearned revenue

              debit                    credit

July 31                                1,340

notes payable

              debit                    credit

July 19                                26,000

common stock

              debit                    credit

July 1                                  68,000

service revenue

              debit                    credit

July 31                                11,600

rent expense

              debit                    credit

July 5     510

July 31    1,400

advertising expense

              debit                    credit

July 28   250

wages expense

              debit                    credit

July 31   1,900

utilities expense

              debit                    credit

July 31    600

dividends

              debit                    credit

July 31    6,900

4 0
3 years ago
Brody owns all the stock in Mongoose Corporation. Brody has a basis of $200,000 in the Mongoose stock, which currently has a fai
oee [108]

Answer:

d. None of the above.

Explanation:

Option D is correct because Brody has a basis of $200000 Mongoose stock and its market value is $500000. After the merger, Brody receives $200000 preferred stock and $300000 common stock which is equal to its market value of a stock before the merger so there is no gain.

3 0
3 years ago
g The scheduling and front desk experience impact how clients rate us on their Intent to Return. True False
const2013 [10]

Answer:

true.....................

5 0
3 years ago
Answer the question on the assumption that the legal reserve ratio is 20 percent. suppose that the fed sells $500 of government
mel-nik [20]

The sale and purchase of government securities by the Fed would leave reserves unchanged.

<h3>What is the effect of the purchase and sale of government securities?</h3>

The Fed is the Central Bank of the United States. One of the duties of the Fed is to conduct monetary policies. Monetary polices are used to affect the level of money supply in the economy.

One of the monetary policy tools of the Fed is open market operation. When the Fed sells government securities, it is known as an open market sales which reduce money supply. When the Fed buys government securities, it is known as an open market purchase which increases money supply.

Reserve ratio is the percentage of deposits that is required of commercial banks to keep as reserves. Reserve ratio is determined by the Fed.

Change in reserve = (  value of government securities bought / reserve ratio) - (value of government securities sold / reserve ratio)

($500 / 0.2) - (500 / 0.2)  = 0

To learn more about reserve ratio, please check: brainly.com/question/6831267

#SPJ1

7 0
2 years ago
Railway Cabooses just paid its annual dividend of $3.10 per share. The company has been reducing the dividends by 10.9 percent e
Vlada [557]

Answer:     Po = Do(1+g)/Ke-g

                  Po = $3.10(1-0.109)/0.13 - (-0.109)

                  Po = $3.10(0.891)/0.13+0.109

                  Po = $3.10(0.891)/0.239

                  Po = $11.56

Explanation: The current market price of the stock equals the current dividend paid multiplied by 1+g divided by the excess of cost of equity over growth rate. The growth rate is negative in this case, thus, the growth rate would be deducted from 1. Moreso, the growth rate will be added to cost of equity since it is negative. Thus, the amount that the investor will be willing to pay is $11.56.

7 0
3 years ago
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