The GDP is measure that includes in it all of the final goods that have been produced in a particular economy, in a particular time frame, most commonly one year. This includes the investments, cost in infrastructure, additions to private inventories, all of the public and private consumption, government outlays, as well as the foreign trade balance. The GDP can be a good indicator about an economy, but it can also be misleading. It is a measure that is also often used to describe the economic power and the living standard of the countries, but that is not a good idea as the GDP is not a good indicator for it and gives wrong perception more often than not.
Answer:
The correct answer is the option A: may keep the profits.
Explanation:
To begin with, it all depends from the kind of contract that both parties have signed but the most situation that will happen after the resale of a goods that were given pack because of the breach of the contract from the buyers then the seller of the goods may keep the new profits because initially those profits will not be tied to the first contract that was breached and secondly the one that finished the contract by not accomplish one the rules was the buyer so that means that the sellers was not involved in the damage but he receive the damage from the buyer.
The entry to close the dividends account at the end of the year:
It is given that Canopy services paid k. Canopy, the sole shareholder of canopy services, $5,700 in dividends during the current year. The entry to close the dividends account at the end of the year shall be as follows:
Dec. 31, Year;
Retained earnings Debit $5,700
Dividends Credit $5,700
(Being dividends closed to retained earnings)
The most likely result if Fred sues Harry for the $12,000 payment is D. Fred will win because the right to receive payment could be validly assigned.
It should be noted that every contract creates its own rights and duties. Based on the information given, the obligee is Belinda.
The obligee in this case transfers the right to receive payments to a third-party who is Fred. Also, from the information, Belinda gave Fred the right to receive the payment from Harry.
Therefore, based on the above information, Fred has the right to receive payment. Therefore, if Fred sues Harry for the $12,000<em> payment</em>, he'll win.
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Answer:
This problem requires us to pass journal entry to assign overhead to the Assembly and Finishing Departments.
We know that overhead is allocated on estimation basis through applied overhead account. The basis of assignment is given in the question. The overhead will be assigne/recorded in relevant department work in process cost account. The journal entry is given below.
Debit Assembly WIP Account $ 70,720
(44,200*1.6 = 70.720)
Debit Finishing WIP Account $ 28,000
((62,200-44,200)*1.6 = 28,800)
Credit Factory Overhead applied Account $ 99,520
