When people refer to jobs in the public sector they are referring to jobs with:

Goldfinger Corporation had account balances at the end of the current year as follows: sales revenue, $29,000; cost of goods sol

vladimir2022 [97]

Answer:

sales revenue 29,000 debit

income summary 29,000 credit

income sumamry 10,520 debit

operating expenses 6,200 credit

income tax expense 4,320 credit

income summary 18,480 debit

retained earnings 18,480 credit

Explanation:

To close the temporary account we will use an auxiliar account called income summary.

We will post expense in the credit against income summary in the debit

for revenues we will do the other way around, debit aainst income summary on credit.

Last, we transfer the balcne of this account into retained earnigns.

<u>balance of retained earnings: </u>

29,000 - 10,520 = 18,480

5 0

3 years ago

If the money multiplier is 3 and the Fed wants to increase the money supply by $900,000, it could 18. A. Buy $300,000 worth of b

Allushta [10]

Answer:

The right solution is Option A "buys $300000 worth rupees bonds".

Explanation:

Given:

Money multiplier,

= 3

Change in money supply,

= $900000

As we know,

⇒ $Money \ multiplier=\frac{Change \ in \ total \ money \ supply}{Change \ in \ total \ monetary \ base}$

Or,

⇒ $Change \ in \ total \ monetary \ base=\frac{Change \ in \ total \ money \ supply}{Money \ multiplier}$

On putting the values, we get

⇒ $=\frac{900000}{3}$

⇒ $=300000$ ($)

8 0

3 years ago

When Auditing the i._____________ area on the financial statements sending out confirmations is required, unless the following t

stiv31 [10]

Answer:

The missing answer is Accounts Receivable.

Explanation:

If a company (say Sender Limited) provides goods and or services to a customer and that customer is yet to pay, the amount due is entered under the Accounts Receivable (AR) portion of Sender Limiteds financial records. In order words Accounts Receivable (AR) is simply money owned to Sender LImited by clients or other debtors.

In a company's balance sheet, the AR is recognized as Current Assets. That is, it is expected that such monies will come in within a year.

When Auditing the accounts receivable area on the financial statements sending out confirmations is required.

It is normal at this point for auditors to requests (electronically or via traditional mail) to

a. customers to verify accounts receivable and

b. to financial institutions to confirm outstanding promissory notes.

The following are financial areas that may be investigated:

i. cash transactions,

ii. inventory records, and consigned merchandise

iii. long-term contracts,

iv. accounts payable and contingent liabilities, and

v. any transaction that looks suspicious

Cheers

4 0

2 years ago

Page 13 1.2. What are five foundations of economics? Caroline has several options for how to spend her Saturday night, listed in

Savatey [412]

Answer:

Economic theory' five pillars are opportunities, trade-offs, the expense of opportunity, marginal valuation as well as the theory of value-creating exchange.

In simple words, opportunity cost refers to the cost of losing profits by choosing one alternative over the other. Thus, if Caroline choose to got to music concert, her opportunity cost would be the loss of privilege to be at shopping or dinner. Same applies to other two options.

3 0

3 years ago

Which of the following scenarios is consistent with the Laffer curve?

sergejj [24]

Answer:

No option is correct.

a. An increase in the tax rate always increases tax revenue. ⇒ FALSE, if tax rates increase beyond the optimal level, instead of increasing total revenue they will decrease it.
b. The tax rate is 1 percent, and tax revenue is very high. ⇒ FALSE, very low tax rates will result in very low government revenue.
c. The tax rate is 99 percent, and tax revenue is very high. ⇒ FALSE, very high tax rates will result in very low government revenue.
d. A decrease in the tax rate always increases tax revenue. ⇒ FALSE, if tax rates decrease beyond the optimal level, instead of increasing total revenue they will decrease it.

Explanation:

According to Arthur Laffer, a direct and sometimes inverse relationship exists between tax rates and government revenue. Sometimes a lower tax rate can result in higher government revenue. But that is not always the case. Sometimes an increase in the tax rate can increase government revenue. The optimal tax rate (T*) is equal to the tax rate that will allow the government to collect the highest amount of revenue. Any lower or higher tax rate will decrease government revenue.

3 0

3 years ago