Answer:
The answer is B. contributes to U.S. GDP, but not U.S. GNP
Explanation:
Gross Domestic Product (GDP) is the market value of all final goods and services produced within the economy of a country within a period of time.
Gross National Product(GNP) is the market value of all final goods and services produced by a citizen of a country irrespective of whether they are in the country or outside the country within a period of time.
The BMW plant in Spartanburg which produces $10million worth of vehicles is in USA but the company in owned by Germans. Since it is produced within the economy of USA, it will count for USA's GDP but it won't count for USA's GNP because it is not owned by USA citizen rather, it will count for Germany's GNP because it is owned by Germans.
Answer:
Journal entry recording the interest
Debit Credit
Interest Expense $7,350
Cash $7,000
Interest Payable $350
As $7,000 is paid from the total expense of $7,350. Remaining interest of $350 is recorded as liability in interest payable account.
Answer:
A) social state A and social state D
B) Social state D
Explanation:
A) The social states that might be chosen by the government are
State A and State D : Because it has a reasonable number of active worker that are far greater than the unemployed and Retirees and this means that there is a reasonable amount of income in the social states and the data from other social states looks quite Fraudulent because there is no way the unemployed = workers and also = Retirees
B) The social state that will most likely be enacted is Social state D and this is due to the High ratio of Active workers compared to the unemployed and retirees
Dominant culture: male, white, middle-class, English speaking, heterosexual
Not a member of: Chinese, transgender, poverty, etc.
Answer:
Explanation:
note to be paid with three equal payments @ 6% interest at the end of each year.
Amortization Schedule
Year Opening Interest 6% 3 equal Paments Repay Closing
1 8000000 480000 2666667 3146667 5333333
2 5333333 320000 2666667 2986667 2666667
3 2666667 160000 2666667 2826667 0
Journal Entries
January 1, 2018
Loan Receivable 8000000
Bank 8000000
Amount given as Loan
December 31, 2018
Cash 3146667
Interest Income 480000
Loan Receivable 2666667
To record the repayment and interest income
December 31, 2020
Cash 2826667
Interest Income 160000
Loan Receivable 2666667
To record the repayment and interest income