Answer:
Gdp excludes the most of items that are produced and sold illegally and also most of the items that are produced and consumed at home because the products which are illelegal are not sold under government policies and are not authorised.
Explanation:
GDP: It is been referred as the total value of all the goods and services which has been produced for the marketplace within one year's period and within our national borders.
Measurment of GDP:
- It will record only the value of final output of goods no intermediate goods are included in it.
- The output here is valued only at its market prices.
- It measures the values of both tangible and intangible services.
- It measures the values of goods which are produced within the geographic boundaries of country.
Where this GDP is countable:
It is countable only where the products are produced in economy and are being sold legally in the markets.
Excludes the products being sold illegally.
Answer:
$162,500
Explanation:
Depletion is used to expense the cost of extracting natural resources.
Depletion expense = (unit extracted in 2017 / total units that could be extracted) x (Cost- salvage value)
(1,500,000 / 12,000,000) x ( $1,500,000 - $200,000) = 0.125 × 1,300,000 = $162,500
I hope my answer helps you
Answer:
Explanation:
The journal entry is shown below:
Interest expense A/c Dr $3,000
To Interest payable A/c $3,000
(Being interest is recorded)
The computation of the interest expense is shown below:
= Principal × rate of interest × number of months ÷ total number of months in a year
= $125,000 × 6% × (4 months ÷ 12 months)
= $2,500
The four-month is calculated from the September 1 to December 31
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Answer:
Shoe-leather Costs.
Explanation:
In this scenario, Bob manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday, he immediately goes out and buys all the goods he will need over the next two weeks in order to prevent the money in his wallet from losing value.
What he can't spend, he converts into a more stable foreign currency for a steep fee. This is an example of the Shoes-leather costs of inflation.
A Shoe-leather costs refers to the costs of time, energy and effort people expend to mitigate the effect of high inflation on the depreciative purchasing power of money by frequently visiting depository financial institutions in order to minimize inflation tax they pay on holding cash.
Metaphorically, it ultimately implies that in order to protect the value of money or assets, some people wear out the sole of their shoes by going to financial institutions more frequently to make deposits.
Hence, Bob is practicing a shoe-leather cost of inflation so as to reduce the nominal interest rates.
