Borrowers gains from inflation.
Inflation is the rate of growth in costs over a given time frame. Inflation is normally a huge measure, including the general increase in expenses or the boom in the cost of dwelling in a country.
Inflation is the charge of growth in costs over a given time frame. Inflation is typically a huge degree, together with the overall increase in prices or the boom in the cost of living in a country.
At the same time as high inflation is typically considered harmful, some economists trust that a small amount of inflation can help power economic growth. the opposite of inflation is deflation, a state of affairs where costs tend to say no. The Federal Reserve's goal is a 2% inflation fee, based totally on the consumer price Index (CPI).
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Answer: $150
Explanation:
Based on the information given in the question, the journal entry provided will be:
Debit Customer $1500
Credit Account Payable (Apple) $1350
Credit Commission income/Revenue $150
Therefore, the revenue that Amazon will recognize for the sale of one MacBook Pro is $150.
Answer:
$7,000
Explanation:
Increase in Temporarily Restricted Net Assets = $2,000 + $10,000 + $5,000 = $17,000
Net increase in Temporarily Restricted Net Assets = Increase in Temporarily Restricted Net Assets - Amount of the conference room furniture purchased = $17,000 - $10,000 = $7,000
Note that the conference room furniture purchased is deducted because the donor did not stipulate a time restriction on holding the furniture.
Therefore, total amount should be recorded as an increase to Temporarily Restricted Net Assets is $7,000.
Answer: A reversing entry: <em><u>"is the exact opposite of an adjusting entry made in a previous period.".</u></em>
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Explanation: Reversion entries are an end-of-the-year technique that involves the reversal, on the first day of the new accounting period, of those end-of-year adjustment entries that cause expenses or income and therefore will result in payments or cash receipts. Its purpose is to allow company personnel to record routine transactions in a standard manner without referring to previous adjustment entries.
