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3 years ago

What change could be considered an effective sign of economic recovery from the Great Recession?

Business

1 answer:

pogonyaev3 years ago

4 0

Answer:

The answer is C. architecture and construction industry demonstrating a sustainable level of growth

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On December 1, 20X1, Money Co. gave Home Co. a $200,000, 11% loan. Money paid proceeds of $194,000 after the deduction of a $6,0

zysi [14]

Answer: <em>(C.) $2,005</em>

Explanation:

Given :

Money Co. made a cash outflow of $194,000 for the $200,000 loan Money gave to Home Co.

The book value of the loan is $194,000.

The stated rate is 11%.

Hence they will receive an effective interest rate of 12.4% on cash outflow.

∴

Income from the loan = Book value × Effective interest rate × No. of months of the year

= $194,000 × 0.124 × $\frac{1}{2}$

= $2,004.67

3 0

3 years ago

Entry for Issuing Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 103 P

romanna [79]

Answer:

Details below

Explanation:

For issuance of an entry a single transaction is recorded that is work in process account is debited and materials inventory account is credited. In subsidiary ledgers job numbers are debited. For indirect Materials factory overhead is debited.

The given data is as follows.

Requisition No. Material Job No. Amount

103 Plastic 400 $ 2,800

104 Steel 402 24,000

105 Glue Indirect 1,620

106 Rubber 403 3,200

107 Titanium 404 31,600

The entry for materials requisitioned will be

A compound entry can be passed. In this the subsidiary ledger is not included.

Sr. No Particulars Debit Credit

Work In Process 61600

Factory Overhead 1620

Materials Inventory 63200

The one with a subsidiary ledger would look like this.

Sr. No Particulars Debit Credit

(Subsidiary)

1 Work In Process 61600

( Job No 400) 2800

( Job No 402) 24000

( Job No 403) 3200

( Job No 404) 31600

Factory Overhead 1620

Materials Inventory 63200

This is combined entry but separate entries can be passed as well .

Sr. No Particulars Debit Credit

Work In Process 61600

Materials Inventory 61600

Sr. No Particulars Debit Credit

Factory Overhead 1620

Materials Inventory 1620

Sr. No Particulars Debit Credit

(Subsidiary ledger)

( Job No 400) 2800

( Job No 402) 24000

( Job No 403) 3200

( Job No 404) 31600

Materials Inventory Plastic 2800

Materials Inventory Steel 24000

Materials Inventory Titanium 3200

Materials Inventory Rubber 31600

In each of the entries above materials inventory is credited.

3 0

3 years ago

Since 1960, when the central american beef market began booming, over 25% of the rainforests have been cleared for cattle grazin

faust18 [17]

Since 1960, when the Central American beef market began booming, over 25% of the rainforests have been cleared for cattle grazing is a TRUE statement.

4 0

3 years ago

Alexandra is a veterinarian employed by Fast Vet Services. Susan is a self-employed veterinarian. During the current year, Alexa

melomori [17]

Answer/Explanation:

Susan's veterinary expenses are deductible for adjusted gross income

because she is self-employed and at the same time her vet practice constitutes a business.

Therefore, all of her veterinary expenses are deductible for adjusted gross income.

Alexandra is said to be in a trade or business as an employee and

the unreimbursed expenses of an employee are deducted as miscellaneous itemized deductions.

Therefore, Alexandra only benefits if she itemizes her deductions while Susan will always get the full benefit of the deduction.

3 0

2 years ago

Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, an

trapecia [35]

Answer:

cash 20,000,000 debit

unearned revenue 20,000,000 credit

Explanation:

Record the advance collection of $20 million for iTunes gift card.

When a gift card is sold, Apple Inc assume the obligation of latter provide iTunes in the near future or do cash reimbursement therefore; this isn't revenue. It is a liability. Apple will generate revenue when the gift ard are redeem not at sale.

7 0

3 years ago