Answer:
Officially, the Great Recession lasted between December 2007 and June 2009, but it certainly seemed longer.
The economy crushed property and stock markets, destroyed $18.9 trillion of household wealth and destroyed over eight million jobs.
Explanation:
In December 2007, the Great Recession came to an end in June 2009, making the Great Recession the longest since World War II. The Great Recession was extremely extreme in a number of ways. Actual GDP decreased by 4.3% in 2009Q2, the biggest decline in the post-war era (based on the data of October 2013), as from its peak in 2007 Qu4. The figure was 4.3%. In December 2007, the unemployment rate was 5%, rising to 9.5% in June 2009 and a high of 10% in October 2009.
Simultaneously, the financial consequences of the Great Recession had outsized: the average home prices decreased by about 30 percent from the middle of 2006 to mid-2009, while the S&P 500 index decreased by 57 percent from its high in October 2007. Net values for US households and non-profit organizations dropped to $55 trillion in 2009, from a high of approximately $69 trillion in 2007.
Answer:
Date Account titles & Explanation Debit Credit
Apr-05 Merchandise Inventory $23,000
Accounts Payable $23,000
Apr-06 Merchandise Inventory $900
Cash $900
Apr-07 Equipment $26,000
Accounts Payable $26,000
Apr-08 Accounts Payable $3,000
Merchandise Inventory $3,000
Apr-15 Accounts Payable $20,000
($23,000-$20,000)
Merchandise Inventory $400
($20,000*2%)
Cash $19.600
Answer and Explanation:
The journal entries are shown below:
On Feb 15
Purchases $800,000
To Accounts payable $800,000
(Being the purchase of inventory on credit is recorded)
On Mar 31
Accounts payable $800000
To Notes payable $800000
(Being the issuance of note is recorded)
On Sept 30
Notes payable $800,000
Interest expense $40,000
To Cash $840,000
(Being the payment of note and interest is recorded)
The interest expense is computed below:
= $800,000 × 10% × 6 months ÷ 12 months
= $40,000
The six months is calculated from Mar 31 to Sep 30
Only these entries are passed
Answer:
Current assets 300.000,00
Current liabilites 120.000,00
WORKING CAPITAL 180.000,00
Explanation:
Working capital, also known as net working capital (NWC), is the difference between a company’s current assets, such as cash, accounts receivable (customers’ unpaid bills) and inventories of raw materials and finished goods, and its current liabilities, such as accounts payable
Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in the cash flows from investing activities section.
What is depreciation?
Depreciation is an accounting technique that distributes an asset's cost throughout its anticipated useful life. Depreciation is a recurring expense that businesses report on their income statement. Assets degrade with time, losing value.
Which activities are reported on the statement of cash flows?
Transactions must be divided into the three categories of operating, investing, and financing activities that are shown on the statement of cash flows.
Learn more about cash flow statement: brainly.com/question/15278261
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