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Yuliya22 [10]
3 years ago
9

Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production

for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States?
a. The costs of overfishing and other overly intensive uses of resources
b. Federal government paychecks to soldiers
c. The value Of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government
d. The variety of goods available to consumers

When a U.S. company purchases and imports wood from Brazil to use to build new houses within the United States, this purchase increases the ________ component of GDP while also ____________ net exports by the same amount. Therefore, the purchase of wood from Brazil causes_________ in US GDP.
Business
1 answer:
sesenic [268]3 years ago
6 0

Answer:

a, c , d

investment

decreasing

no effect

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.  

Items not included in the calculation off GDP includes:  

1. services not rendered to oneself

2. Activities not reported to the government  

3. illegal activities

4. sale or purchase of used products

5. sale or purchase of intermediate products

6. Externalities

Investment spending by businesses includes purchases made by businesses. So, investment spending increases. Net export decreases because import is a negative function of GDP. The increase and decrease cancel each other out and there would be no change in GDP

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Pls be nice and answer this for me. in the middle of a test. 50 pts!
Roman55 [17]

Answer:

c

Explanation:

nate should have chosen to ask the supplier for verification for the requisition order

3 0
2 years ago
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Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received
Olegator [25]

Answer:

The after-tax cost is $23,940

Explanation:

For computing the after-tax cost, first we have to compute the present value which is shown below:

Present value = Bill payment × marginal tax rate

                       = $38,000 × 37%

                       = $14,060

So, after tax value would equal to

= Bill payment or Pre tax value - Present value

= $38,000 - $14,060

= $23,940

8 0
3 years ago
5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal pl
Zigmanuir [339]

Complete Question:

The Company has the following transactions related to its top-selling Mongoose mountain bike for the month of March. The Company uses a periodic inventory system.

Date Transactions Units Unit Cost Total Cost

March 1 Beginning inventory 20 $230 $4,600

March 5 Sale ($360 each) 15

March 9 Purchase 10 250 2,500

March 17 Sale ($410 each) 8

March 22 Purchase 10 260 2,600

March 27 Sale ($435 each) 12

March 30 Purchase 8 280 2,240

For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase.

Required:

a. Calculate ending inventory and cost of goods sold at March 31, 2015, using the specific identification method. The March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes

from beginning inventory and eight bikes from the March 22 purchase.

b. Using FIFO, calculate ending inventory and cost of goods sold at March 31, 2015.

c. Using LIFO, calculate ending inventory and cost of goods sold at March 31, 2015.

d. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31, 2015.(Round your intermediate and final answers to 2 decimal places.)

e. Calculate sales revenue and gross profit under each of the four methods.

Answer:

The Company

Ending Inventory:

a. Specific Identification:

Beginning inventory 1 * $230 = $230

March 9 purchase  2 *  $250 =  500

March 22 purchase 2 * $260 = 520

March 30   Purchase 8 * $280 =2,240

Total value of inventory 13 units = $3,490

Cost of goods sold = Cost of goods available for sale Minus Ending Inventory

= $11,940 - $3,490

= $8,450

b. FIFO:

March 22   Purchase     5   260     1,300

March 30   Purchase     8   280    2,240

Ending Inventory          13           $3,540

Cost of goods sold = Goods available for sale Minus Ending Inventory

= $11,940 - $3,540

= $8,400

c. LIFO:

Ending Inventory:

March 1  Inventory     13    $230         $2,990

Cost of goods sold = Goods available for sale Minus Ending Inventory

= $11,940 - $2,990

= $8,950

d) Weighted -Average Cost:

Ending Inventory = $248.75 * 13 = $3,233.75

Cost of Goods Sold = $248.75 * 35 = $8,706.25

                                     Specific          FIFO         LIFO         Weighted

                               Identification                                           Average

Sales                           $13,900       $13,900      $13,900       $13,900.00

Cost of goods sold        8,450           8,400         8,950         $8,706.25

Gross profit                 $5,450         $5,500      $4,950          $5,193.75

Explanation:

Dat and Calculations:

Shop uses periodic inventory system

Date           Transactions               Units      Unit Cost    Total Cost   Total

March 1      Beginning inventory     20          $230         $4,600       Sales

March 5     Sale ($360 each)                   15   $360                          $5,400

March 9     Purchase                       10            250           2,500

March 17    Sale ($410 each)                   8     $410                           $3,280

March 22   Purchase                      10            260           2,600

March 27   Sale ($435 each)                12     $435                         $5,220

March 30   Purchase                      8             280           2,240

Total Goods available for sale     48   35                     $11,940   $13,900

Ending Inventory = 13 (48 - 35)

Weighted average cost = Cost of goods available for sale/Units of Goods available for sale

= $11,940/48 = $248.75

Specific Identification:

March 5 sale 15 consists of bikes from 15 beginning inventory Bal 5 - 4 = 1

March 17 sale 8 consists of bikes from the March 9 purchase  Bal  = 2

March 27 sale 12 consists of four bikes from beginning inventory and eight bikes from the March 22 purchase Bal  = 2

Ending Inventory:

Specific Identification:

Beginning inventory 1 * $230 = $230

March 9 purchase  2 *  $250 =  500

March 22 purchase 2 * $260 = 520

March 30   Purchase 8 * $280 =2,240

Total value of inventory 13 units = $3,490

FIFO:

March 22   Purchase     5   260     1,300

March 30   Purchase     8   280    2,240

Ending Inventory          13           $3,540

LIFO:

March 1      Beginning inventory     13    $230         $2,990

Weighted-Average Costs:

Ending Inventory = $248.75 * 13 = $3,233.75

Cost of Goods Sold = $248.75 * 35 = $8,706.25

5 0
2 years ago
H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory informatio
irinina [24]

Answer:

The calculation is shown below:

Explanation:

According to the scenario, the computation of the following data can be done as follows:

Total Cost = Quantity × Unit Cost

Total NRV = Net Realizable Value × Quantity

So, by putting the value in the formula, we get,

Item       Quantity     Total Cost        Total NRV    Lower of cost or NRV

A             59   $1,416.00         $1,239.00         $1,239.00

B             89   $3,471.00         $4,361.00         $3,471.00

C             19   $1,083.00        $1,159.00         $1,083.00

D             79   $2,686.00        $3,081.00         $2,686.00

E             359   $6,821.00         $5,026.00              $5,026.00

Total                   $15,477.00        $14,866.00         $13,505.00

6 0
3 years ago
A consumer electronics company was formed to develop cell phones that run on or are recharged by fuel cells. The company purchas
rodikova [14]

Answer:

a) $5, 764,000

b) $1, 959,000

Explanation:

The first part of the question is to determine the taxable income of the company

The taxable income - The company's gross income - The Capital Expenditures - The Depreciation expenses for capital expenditure

= $8,500,000 - $2,280,000 - $456,000

= $5,764,000

Part B) This is to determine the Federal Income Taxes for the year

Looking at the income tax distribution tab, we first check where the company falls into

Since, the company has a taxable income of $5,764,000, it falls in the category of

$335,000 to $10,000,000= $113,900 + 34% of the amount over $335,000

As such, the Federal Income Tax

= $113,900 + ($5,764,000- $335,000) x 34%

= $113,900 + $1, 845,000

= $1, 959,000

8 0
3 years ago
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