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sattari [20]
2 years ago
8

Which of the following is included in GDP? a) Cash gifts from relatives during the holidays b) Welfare payments received by some

households c) Payments received from selling stocks in oneâs portfolio d) The cost of a dinner at a restaurant
Business
1 answer:
krok68 [10]2 years ago
6 0

Answer:

D)the cost of a dinner at a restaurant

Explanation:

GDP which means Gross domestic product can be regarded as the monetary value of finished goods as well as services that is been produced within the country at a particular period of time. The 3 types of GDP are

✓Real Gross Domestic Product.[ occur after inflation has been considered)

✓Nominal Gross Domestic Product.(with normal price)

✓Gross National Product (GNP)

Therefore, Out of the given options, the only one that is included in GDP is "the cost of a dinner at a restaurant".

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Which steps are involved in filing an insurance claim? Check all that apply.
borishaifa [10]
Buy property, Experince damages file a claim
You cant file a claim unless you've gone through having a property something breaking and filing a claim.
4 0
3 years ago
An asset falling under the MACRS five-year class was purchased three years ago for $200,000 (its original depreciation basis). C
Nitella [24]

Answer:

(a) The cash flows is $59,040.

(b) The cash flows is $71,040.

Explanation:

From the  Modified Accelerated Cost Recovery System (MACRS) Tables, the depreciation rates for the first 3 years for an asset falling under the MACRS five-year class are 20%, 32% and 19.2%. Therefore, we have:

Accumulated depreciation rate = 20% + 32% + 19.2% = 71.20%

Accumulated depreciation = Cost of the asset * Accumulated depreciation rate =  $200,000 * 71.20% = $142,400

Net book value of the asset = Cost of the asset - Accumulated depreciation = $200,000 - $142,400 = $57,600

We can now proceed as follows:

(a) Calculate the cash flows if the asset is sold now at $60,000

Capital gains = Sales proceeds - Net book value = $60,000 - $57,600 = $2,400

Capital gains tax = Capital gains * Tax rate = $2,400 * 40% = $960

Net sales proceeds = Sales proceeds - Capital gains tax = $60,000 - $960 = $59,040

Therefore, the cash flows is $59,040 net sales proceeds.

(b) Calculate the cash flows if the asset is sold now at $80,000

Capital gains = Sales proceeds - Net book value = $80,000 - $57,600 = $22,400

Capital gains tax = Capital gains * Tax rate = $22,400 * 40% = $8,960

Net sales proceeds = Sales proceeds - Capital gains tax = $80,000 - $8,960 = $71,040

Therefore, the cash flows is $71,040 net sales proceeds.

3 0
3 years ago
Jim is researching different sources to fund his college education. Jim is torn between a federal loan and a private loan. With
Colt1911 [192]
The right answer for the question that is being asked and shown above is that: "A. Jim should choose the federal loan since he will not have to pay interest if he attends a public university." the loan should Jim choose is that he<span> should choose the federal loan since he will not have to pay interest if he attends a public university.</span>
3 0
3 years ago
Sandra, George, Jose, and Antwan are working on a project for a customer that is aimed at cutting the client's utility costs. Th
Maksim231197 [3]

Answer:

Virtual organization

Explanation:

A virtual organization or the business is the one which is defined as whose members are apart geographically, generally working through computer e- mail as well as groupware when appearing to others which is to be unified, single company with the real location physically.

In short, it is the permanent or temporary collection of the geographically dispersed groups, company, entire or individual units which ground on the electronic linking so that to complete the process of production.

So, in this case, the workgroup working on e-mail, phone and collaborative computing in order to complete the project. Therefore, it is an example of virtual organization or company.

5 0
3 years ago
The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31, 2010, its
REY [17]

Answer:

Dylan Delivery Company

1. 10-Column Worksheet (see attachment)

2. Closing Journal Entries at December 31, 2010:

Date  Description                        Debit         Credit  

Depreciation expense - Truck    80,000  

Salaries Expense                         111,000  

Office supplies expense             18,000  

Repairs expense- trucks             15,000

Income Summary                                          224,000

To close expenses to the Income Summary.

Date  Description                        Debit         Credit

Income Summary                      263,000

Delivery fees                                                263,000

To close revenue to the Income Summary.

Date  Description                       Debit         Credit

Net Income                                39,000

Retained Earnings                                        39,000

To close the net income to retained earnings.

2b) Capital to be reported on balance sheet as at December 31, 2010:

S. Dylan Capital                 $307,000

Retained Earnings                39,000

S. Dylan withdrawals           (34,000)

Net Capital                        $312,000

Explanation:

a) A 10-column worksheet is a tool used by accountants to close the temporary accounts, after necessary adjustments, and then extract a balance sheet.  It comprises two columns (debit and credit) for each of the following: Unadjusted Trial Balance, Adjusting Entries, Adjusted Trial Balance, Income Statement, and Balance Sheet.

b) A closing entry is a journal entry that is made at the end of an accounting period to transfer balances from a temporary account to a permanent account.  The four basic steps in the closing process are: Closing the revenue accounts—transferring the credit balances in the revenue accounts to a clearing account called Income Summary. Closing the expense accounts—transferring the debit balances in the expense accounts to a clearing account called Income Summary.  Extracting a balance between the revenue accounts and the expense accounts, called the net income or loss.  Closing the net income or loss to the Retained Earnings.

Download xlsx
5 0
3 years ago
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