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IgorLugansk [536]

3 years ago

14

USA TEST PREP HELP ILL GIVE BRAINLIEST. If both monetary policy and fiscal policy were used at the same time to contract the eco

nomy, which set correctly describes the likely result of these actions?
A) A
B)B
C)C
D)D

1 answer:

algol [13]3 years ago

6 0

Answer:

I am unsure of the answer but it can be narrowed down to B D or E because the GDP would decrease.

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Geraths Windows manufactures and sells custom storm windows for three-season porches. Geraths also provides installation service

UNO [17]

<u>Solution and Explanation:</u>

a. Prepare the journal entries for Geraths in 2014.

On July 1, 2014, Geraths enters into a contract with a customer for the purchase and installation of window for a price of $2,400. No journal entry.

On september 1, 2015.

Windows = $2,000

Installation = $600

Total = $2,600

Allocation

<u>Particulars </u> <u>Amount </u>

Installation $(\$ 600 / \$ 2,600) \times \$ 2,400$ 554

Windows $(\$ 2,000 / \$ 2,600) \times \$ 2,400$ 1,846

Revenue recognized 2,400

Date Account details Debit Credit

Sep 1,2015 Cash 2,000

Account receivable 400

unearned service revenue 554

Sales revenue 1846

Cost of goods sold 1100

Inventory 110

15 oct,2015 Cash 400

unearned service revenue 554

Service revenue (installation) 554

Account receivable 400

(Revenue recognized after service provided)

<u>On september 1,2015. </u>

Windows = $2,000

Installation $(\$ 400+(20 \% \times 400)$ = $480

Total = $2,480

Allocation.

sales revenues 200,000

Particulars Amount

Installation 465

Windows 1,935

Revenue recognized 2,400

Date Account details Debit Credit

Sep 1,2015 Cash 2,400

Account receivable 400

unearned service revenue 465

Sales revenue 1935

Cost of goods sold 1100

Inventory 1100

(Windows delivered,Instailation recorded )

15 oct,2015 Cash 400

unearned service revenue 465

Service revenue (installation) 465

Account receivable 400

(Revenue recognized after service provided)

5 0

3 years ago

A U.S. corporation has purchased currency put options to hedge a 100,000 Canadian dollar (C$) receivable. The premium is $.02 pe

LuckyWell [14K]

Answer:

$97,000

Explanation:

Data provided in the question:

Receivable amount = 100,000 Canadian dollar

Premium per unit = $0.02

Exercise price of put option = $0.94

Spot rate at maturity = $0.99

Now,

Dollars received from selling Canadian dollars in the spot market

= Receivables amount × Spot rate

= $100,000 × $0.99

= $99,000

Premium paid for options = Receivable amount × Premium per unit

= $100,000 × $0.02

= $2000

Therefore,

The net amount received by the corporation if it acts rationally

= Dollars received from selling Canadian dollars - Premium paid

= $99,000 - $2000

= $97,000

3 0

3 years ago

The _____________ is the contract that seals the deal when you buy a car.

solmaris [256]

The answer is a loan agreement because you agreed to by the car

8 0

3 years ago

WHO WANTS POINTSS AND BRAINLIEST <br> CLICK ON MY PROFILE AND BE MY FRIEND

earnstyle [38]

Answer:

i will be ur friend :)

Explanation:

5 0

3 years ago

Read 2 more answers

At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 914,000 Credit sales 31

Lyrx [107]

Answer:

a.

Date Account Title Debit Credit

Dec, 31 Bad debt expense $15,700

Allowance for doubtful expense account $15,700

<u>Working</u>

= 5% * 314,000

= $15,700

b.

Date Account Title Debit Credit

Dec, 31 Bad debt expense $‭36,840‬

Allowance for doubtful expense account $‭36,840‬

<u>Working </u>

= 3% * (Cash sales + Credit sales)

= 3% * (914,000 + 314,000)

= $‭36,840‬

c.

Date Account Title Debit Credit

Dec, 31 Bad debt expense $‭‭17,520

Allowance for doubtful expense account $‭‭17,520

<u>Working</u>

= (8% * Year end accounts receivable) + Debit balance for Allowance for doubtful account

= (8% * 139,000) + 6,400

= $‭17,520‬

8 0

3 years ago