All categories

3 years ago

Explain why the sale of used goods is not included in GDP.

1 answer:

8 0

Used goods are not included in the current year GDP, as they were already included in the year that they were produced. GDP stands for Gross Domestic Product, and includes the values of goods and services created that year in that specific country alone.

You might be interested in

Jason bought a new truck at $25,000. The truck depreciates 15% of its value each year. How much is it worth after 5 years

sergiy2304 [10]

Answer:

I think the answer would be $18,750

Explanation:

8 0

2 years ago

Andres and Lakeisha are married and file jointly. Andres is 72 years old and in good health. Lakeisha is 62 years old and blind.

PIT_PIT [208]

Answer: $26,600.

$26,600 = $24,000 + ($1,300 × 2). The married joint standard deduction is increased for $1,300 for each blind and/or taxpayer age 65 by year-end.

Explanation:

8 0

3 years ago

Pepper Enterprises owns 95 percent of Salt Corporation. On January 1, 20X1, Salt issued $220,000 of five-year bonds at 115. Annu

Viktor [21]

Solution :

a).

Par value of the bonds outstanding 220,000

Annual interest rate x 10%

Interest payment 220,000

Amortization of the bonds premium 6600 $\left( \frac{220,000 \times 15\%}{5}\right)$

Interest charged for full year 15400

Less:interest on the bond purchased 2567

by Online Enterprise (15400 x 1/2) x

(4 months / 12 months)

Interest expense included in the consolidated 12833

income statement

b).

Sale price of bonds, 1 Jan 20x1 138,000

(120,000 x 115%)

Amortization of premium 9600 $\left(\frac{\$120,000 \times 15\%}{5 \ yrs} \times 2\frac{2}{3}\right)$

Book value at time of purchase 128,400

Purchase price 120,000

Gain on bond retirement 8400

c).

Events Accounts Debit Credit

1 Bonds payable 120,000

Bonds premium 6600

interest income 4367

investment in Salt bonds 120,000

Interest expense 2567

Gain on bond retirement 8400

2 interest payable 8100

(4950+11900+8750)

Interest receivable 8100

6 0

3 years ago

Once you have collected data for a message, you’ll need to find a way to organize it. Well-organized messages group similar idea

Amanda [17]

Answer:

c. Sparkling water, evening wine tasting, four-star hotel restaurant

a. You need to convince your coworkers to adopt a new software program that they don’t understand.

b. You need to fire your receptionist.

c. You are sending a past-due notice on an account.

Explanation:

In the first question, sparkling water, even tasting wine and four star hotel restaurant are all specific categories that fall under some of the items in the foregoing scratch list example food and drink and $100/night four star rooms

In the second question, manager use indirect strategies in communicating information that may be perceived as bad news to the employees in such a way as to reduce the negative psychological effect it may have on them. Example firing your receptionist is bad news to her and would have to be communicated indirectly by first offering an explanation and putting the main idea towards the end of the message

6 0

4 years ago

A CPA sole practitioner purchased stock in a client corporation and placed it in a trust as an educational fund for the CPA's mi

Orlov [11]

Answer:

Yes, because the stock is a direct financial interest.

Explanation:

The principals of the AICPA Code of Professional Conduct contains the responsibilities which are to exercise sensitive professional and moral judgment, in terms of the Public Interest to always honor the public trust and perform responsibilities with the highest sense of integrity.

The 3 Parts of the AICPA code of conduct. This includes:

(1) Members in public practice

(2) Members in business

(3) Other members

In accounting, code of conduct is important as it makes individuals to accept a high degree of responsibility toward the public.

Thd independence of a covered member is impaired when:

A. The covered member has a direct financial interest in a client

B. The covered member has a material indirect financial interest in the client

Direct Financial Interest

This is simply known as the ownership interests that is directly held in a client. An example is stock ownership, even if owned in a blind trust etc.

4 0

3 years ago