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Blizzard [7]
2 years ago
5

Econo Nation started 2015 with no national budget debt or surplus. By the end of 2015, it had a budget surplus of $304 million;

in 2016, it had a budget deficit of $452 million; in 2017, it had a budget surplus of $109 million; and the amount of its budget deficit or surplus in 2018 is unknown. If at the end of 2018 Econo Nation’s national debt totaled $50 million, determine the deficit or surplus in 2018.
Business
1 answer:
klemol [59]2 years ago
8 0

Answer:

$11 million

Explanation:

Calculation to determine the deficit or surplus in 2018.

First step is to calculate the national budget debt using this formula

National budget debt= Budget surplus in 2008 + budget deficit in 2009 + budget surplus in 2010

Let plug in the formula

National budget debt= $304 million - $452 million + $109 million

National budget debt= - $39 million

Now let calculate the the deficit or surplus in 2018 using this formula

Deficit or surplus= National budget debt + national debt

Let plug in the formula

Deficit or surplus= -$39 million + $50 million

Deficit or surplus= $11 million

Therefore the deficit or surplus in 2018 is $11 million

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According to Orlando:_____.

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Wilma’s Vegetable Market had the following transactions during 2017:
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Answer:

Journal Entries are as follows.

Explanation:

1.   Cash               $25,000 (Debit)

          Common Stock                              $ 25,000 (credit)

2.   Wages             $10,000  (debit)

               Cash                             $10,000 (credit)

3.  Land                         $ 50,000 (debit)

           Common Stock                        $50,000  (credit)

4.    Dividend Declared    $ 1000  (debit)

                    Dividend Payable            $ 1000 ( credit)

And

   Dividend Payable            $ 1000 ( debit)

                 Cash                           $ 1000 (credit)

5.        Cash               $ 3000  (debit)

              Long Term  Investment            $ 3000 (credit)

6.     Cash                    $ 20,000  (debit)

                Sales                        $ 20,000        ( credit)

7.       Inventory           $2000 (debit)

            Cash                      $ 2000  (credit)

8.      Investment                 $ 6000 ( debit)

               Cash                                             $ 6000 (credit)

9.  Bonds Payable                   $ 10,000  (debit)

                 Discount                             $ 1000 (credit) ( if there's any)

                  Common Stock               $ 9,000 ( credit ) ( in case of discount)

10.    Notes Payable                             $ 10,000  (debit)

Interest on Notes Payable                    $ 1,000 (debit) ( suppose there's interest of $ 1000 on $ 10,000 Notes Payable)

                         Cash                                                    $ 11,000 (credit)

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