Answer:
Item cash Net income
a Purchase of Supplies of cash -$100 -
b Adjusting entry for use of supplies - -$30
c Made sales on account - $1,250
Or
Made sales on account - $1,297
d Received cash from customer on acct $850 -
Or
Received cash from customer on acct $865 -
e Purchased equipment for cash -$2,600 -
Or
Purchased equipment for cash -$2,528 -
f Depreciation of building to be recorded - -$650
Or
Depreciation of building to be recorded - -$610
She can write a check, she can withdraw money from ATM, she fill out a withdrawal slip, she can transfer money to another account
To determine the answer to this, let us first determine the
interest using the formula:
Interest = Principal amount * Interest rate * Number of
months / 12
September to December would be 4 months, therefore:
Interest = $50,000 * 0.06 * 4/12
Interest = $1,000
Therefore the adjusting entry should be:
debit to Interest Expense of $1,000
Answer:
In a large open economy, if political instability abroad lowers the net capital outflow function, then the real interest rate falls, while the real exchange rate rises and net exports fall. (D)
Explanation:
NX = EXPORTS – IMPORTS
If political instability abroad lowers the net capital outflow function that would mean that NX is reducing, which increasing imports and decreasing exports. This means that domestic goods are relatively more expensive due to a high exchange rate. In terms of the real interest rate, it falls because the demand for financial assets decreases.
