FOR THOSE WHO WANTS POINT!!!!!!! AND BRAINLIEST

A credit entry was recorded for unearned revenue and a debit for cash. What does this entry indicate?

rusak2 [61]

Answer:

This means that there is an increase in cash(cash has been collected). And for the unearned revenue which is a liability, there is an increase in the liability

Explanation:

This means that there is an increase in cash(cash has been collected). And for the unearned revenue which is a liability, there is an increase in the liability.

Note: Debit side increases asset(cash) and expenses while credit side decreases liability,income and equity.

Credit side decreases asset(cash) and expenses while debit side increases liability,income and equity.

7 0

3 years ago

how would a significant increase in consumption and economic activity among a nations consumers affect the nation economy

jeka57 [31]

When consumption increases, factories produce more, consequently having to expand, when they expand they hire new employees, meaning that more people have money to buy more things and boost the market.

It is almost like the balance of an ecosystem, if everything works well, the tendency is to continue improving

7 0

3 years ago

The following events took place at a manufacturing company for the current year:

PilotLPTM [1.2K]

Answer: $25,369.50

Explanation:

GIVEN THE FOLLOWING :

Purchased direct material = $97,000

(2) Incurred labor costs as follows: (a) direct, $58,000 and (b) indirect, $15,600.

(3) Other manufacturing overhead was $109,000, excluding indirect labor.

(4) Transferred 80% of the materials to the manufacturing assembly line.

(5) Completed 65% of the Work-in-Process during the year.

(6) Sold 85% of the completed goods.

(7) There were no beginning inventories.

Ending work in process inventory is calculated by;

(Beginning inventory + 0.8(direct material purchased) + direct Labor + (indirect labor + other manufacturing overhead)) × percentage Work in process

($0 + (0.8×97000) + 58000 + (15600+109000))×0.65

=($0 + $77,600 + $58,000 + 124600)×0.65 = $169,130

Ending WIP Inventory = (100-85)% × $169,130

0.15 × $169,130 = $25,369.50

6 0

3 years ago

Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year and that real GDP per capita

Andrej [43]

Answer:

40 years

Explanation:

Given:

Per capita GDP of United states = $32,000

Per capita GDP of China = $4,000

Growth rate of United states = 2%

Growth rate of China = 7%

Now, By the rule of 70 , the GDP will double in $\frac{\textup{70}}{\textup{Growth rate}}$ years

Therefore,

The United States GDP will double in = $\frac{\textup{70}}{\textup{2}}$ = 35 years

Thus,

The GDP of united states in 35 years will be (2 × $32,000 ) = $64,000

this is equals to the 16 times the current GDP of the China

Now,

The China GDP will double in = $\frac{\textup{70}}{\textup{7}}$ = 10 years

Therefore,

The GDP of china will be

2 × $4,000 in 10 years = $8,000

in 20 years = 2 × $8,000 = $16,000 ( i.e 4 times)

in 30 years = 2 × $16,000 = $32,000 ( i.e 8 times)

in 40 years = 2 × $32,000 = $64,000 ( i.e 16 times)

Hence, it will take 40 years for China to catch up with the united states

6 0

3 years ago

The corporate charter of Martin Corporation allows the issuance of a maximum of 4,000, 000 shares of $1 par value common stock.

raketka [301]

Answer:

(a) 4,000,000

(b) 3,200,000

(c) 3,170,000

(d) $3,200,000

(e) $750,000

Explanation:

(a) Number of shares authorized = 4,000,000

(b) Number of shares issued = 3,200,000

(c) Number of shares outstanding:

= Number of shares issued - Acquired shares as treasury stock

= 3,200,000 - 30,000

= 3,170,000

(d) Balance of the Common Stock account:

= Number of shares issued × Par value

= 3,200,000 × $1

= $3,200,000

(e) Balance of the Treasury Stock account:

= Acquired shares as treasury stock × Price per share

= 30,000 × $25

= $750,000

4 0

3 years ago