Answer:
Debit Accounts Payable $24,000; credit Notes Payable $24,000.
Explanation:
Accounts payable represents the amount that a business owes, it represents it's liabilities.
If a notes payable is replacing the balance on account payable for $24,000, the amount is to be paid off at an interest rate of 4% in the next 60 days.
The journal entry to be raised is a debit of $24,000 to Accounts Payable account to reduce the liability balance, and a credit of $24,000 to Notes payable to indicate we have a loan that is payable in 60 days.
Answer:
The correct answer is letter "A": rises; falls.
Explanation:
Given a market for a certain good or service, in case the supply decreases at a fastest pace than the demand increases, the equilibrium price is likely to <em>rise</em>. As a result of the quick drop in the supply for that good or service, the equilibrium quantity is likely to <em>fall</em>.
Answer:
The correct answer is D: $10,329
Explanation:
Giving the following information:
You want to have the equivalent of $700,000 (in terms of today's spending power) when you retire in 30 years. Assume a 3% rate of annual inflation. The interest rate is 10% annual.
First, we need to determine how much is $700,000 in 30 years.
FV= PV*(1+i)^n
FV= 700000*(1.03^30)= $1,699,083.73
Now, we can calculate the annual payment required using the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual payment
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (1,699,083.73* 0.10)/[(1.10^30)-1]= $10329
If She makes an average of $200 per week and her parents send her a monthly allowance of $100. Her net income is $113.
<h3> Income Statement </h3>
Marsha’s Income Statement for the current month
Income $900
[($200 per week×4 weeks)+$100]
Total Income $900
Expenses:
Cell phone $62.00
Gas, $100.00
Food $200.00
Entertainment $100.00
Car payment $200.00
Insurance $125.00
Total expenses $787
Net income $113
($900-$787)
Therefore her net income is $113.
Learn more about Income Statement here:brainly.com/question/24498019
Answer:
The economy has an actual output of 700 billion, and its potential ouput was 600 billion, therefore, we can say that the economy is already performing well, beyond potential, for this reason, the government should simply not intervene, because government intervetion reduces the economic efficiency of market outcomes.
If the economy was below potential, the government could tax some of the 25% income that households save, in order to increase spending. This would promote economic growth, bringing the economy closer to potential.