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3 years ago

7

Many economists oppose a constitutional amendment that would require a balanced budget for the federal government because it wou

ld probably make the business cycle more volatile.
a. True
b. False

1 answer:

masha68 [24]3 years ago

8 0

False is the correct answer

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Brainstorm Company purchased office furniture and equipment for $20,000 and agreed to pay for the purchase by making six annual

Studentka2010 [4]

Answer:

The required annual installment payment is $4067.25.

Explanation:

annual installment = (20000×6%)/(1 - (1 + 6%)^6)

= $4067.25

Therefore, the required annual installment payment is $4067.25.

4 0

3 years ago

Your car averages 28 miles per gallon (MPG). Your trip to work averages 14 miles. Gas costs 2.89 per gallon. What do you spend o

gogolik [260]

Answer:

57.8$

Explanation:

Here we know that:

- One trip to work averages 14 miles

- Therefore, one return trip home-work averages 14*2=28 miles

- You work 20 days per month

So, the average number of miles per month is:

$m=28\cdot 20 =560 mi$

Then, we also know that the car averages 28 miles per gallon; this means that the number of gallons consumed on average in 1 month is equal to the average number of miles (560) divided by 28:

$g=\frac{560 mi}{28 mi/gal}=20 gal$

So, 20 gallons per month.

Finally, we know that the cost of the gas is 2.89$/gallon. Therefore, the average total cost per month is equal to the average number of gallons per month (20) times the cost per gallon:

$cost = (20 gal)\cdot (\$2.89/gal)=\$57.8$

4 0

3 years ago

Exercise 14-13 Coronado, Inc. had outstanding $5,460,000 of 11% bonds (interest payable July 31 and January 31) due in 10 years.

cupoosta [38]

Answer: Please see expalantion coumn for answer

Explanation:

1) To record issuance of bonds

Date Account Title Debit Credit

July 1 Cash $9,457,500

Discount on bond payable $292,500

Bond payable $9,750,000

Calculation:

Cash =$9,750,000 x 97% = $9,457, 500

Discount = $9, 750,000 - $9,457,500= $292,500

2)To record retirement of 11% bonds

Date Account Title Debit Credit

August 1st Bond payable $5,460,000

Loss on Redemption of bonds $218,400

Cash $5,569,200

Discount on Bonds payable $109,200

Calculation:

Cash =$5,460,000 x 102% = $5,569,200

Loss on Redemption of bonds = Cash + Discount on bonds payable - Bonds payable = $5,569,200 + $109,200) - $5,460,000= $218,400

7 0

3 years ago

Financial markets A. channel funds indirectly between borrowers and lenders. B. channel funds directly from lenders to borrowers

Afina-wow [57]

Answer:

B) channel funds directly from lenders to borrowers.

Explanation:

The complete financial system is a means by which money is transferred from savers to borrowers. The financial system is made up of banks, insurance companies, financial markets, and other financial institutions that allow the exchange of money.

Financial markets are the only type of institution that allows the exchange of money from lenders to borrowers without third parties being involved.

6 0

3 years ago

Which of the following asset accounts is increased when a receivable is collected? a.Accounts Payable b.Supplies c.Cash d.Accoun

Nikitich [7]

Answer:

(C) Cash

Explanation:

Receivables means deptors. These are obligations that has been honoured and value given, but you're yet to get cash. Receivables are seen as such. So the things you've given value to and you're yet to receive cash or payment for are receivables.

So when receivables are collected, then the asset account Cash is increased.

On the Delivery of goods or Services, the company debits Accounts Receivable and credits what is known as Sales Revenues or Service Revenues. When an account receivable is collected say 30 days later, the account receivables is reduced and the Cash or bank account is increased.

7 0

3 years ago