Answer:
Debit to income summary account = $2,770
Explanation:
The journal entry to close the expense account is shown below:
Income summary A/c Dr $2,770
To Salaries and wages expense $1,910
To Advertising expense $390
To Rent expense $ 230
To Supplies expense $160
To insurance expense $80
(Being expense accounts are closed)
Answer:
a.increase spending by $100 billion.
Explanation:
For computing the effect, first we have to find out the multiplier then, the spending amount effect which is shown below:
Government spending multiplier = 1 ÷ (1 - marginal propensity to consume)
Government spending multiplier = 1 ÷ (1 - 0.90)
Government spending multiplier = 1 ÷ 0.10
So, Government spending multiplier = 10
Now the effect of spending would be
= Output level at full employment ÷ Government spending multiplier
= $1,000 billion ÷ 10
= $100 billion increase
Answer: Credit Union
Explanation:
Mike and Molly are making use of a credit union type of financial institution.
A credit union type of financial institution makes use of money of joint members deposited to give loans to members within the same group. The money they credit to members within the group is the money that would have been profit to other group members. So, instead of taking their profit home individually, they are given out on loan to members within the group. The purpose of this credit loan type of financial institution is to encourage members to save and to easily access loans.
There is a vital sentence that is missing in the problem. Had it been present, the amount computed would not be the same.
Given:
28 years in service.
66 years old and has contributed 42,000 in her employer's qualified pension fund.
3,000 per month for the remainder of her life.
a) Retires June 2015 and collects six annuity payment.
3,000 x 6 months = 18,000 Gross income.
b) 3,000 x 12 months = 36,000
c) Income from annuity payments: 3,000 x 8 months = 24,000
Loss deductions: 3,000 x 4 months = 12,000
Answer:
"remembering"
Explanation:
Based on the information given in the question about the process that Micheal took during the team meeting we can say that the element in which Micheal's listening failed was "remembering". Michael did everything right and was paying attention during the meeting and even took notes, but he then failed to remember about the PowerPoint presentation and even failed to remember to read his notes which would have mentioned the PowerPoint presentation and even jogged his memory.
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