Answer:
the GDP is $6,850 billion
Explanation:
The computation of the GDP for this economy is as follows:
GDP = Personal consumption expenditure + Government purchases + Gross private domestic investment + Exports- imports
= $4,800 + $1,050 + $1,130 + $240 - $370
= $6,850
hence, the GDP is $6,850 billion
Answer:
d. depreciation expense
Explanation:
The expenses which are paid by cash reduced the cash balance displayed in the balance sheet
. Like interest to creditors, stockholders dividend, wages expenses, miscellaneous expenses, admin expenses, etc. These expenses can be paid either by cash or by bank account
.
But the depreciation expense is a non - cash expense which reduces the fixed asset balance over the fixed asset useful life. Plus this is shown in the income statement on the debit side. Like this other examples would be goodwill impairment, amortization expenses, etc.
The answer is C.
Purose full behavior states that people make decisions with a desired outcome in mind, taking all the losses and benefits into consideration.
Answer:
The one entry is recorded
Explanation:
The journal entry is shown below:
Inventory A/c Dr (Ending inventory) $10,000
Cost of goods sold A/c Dr (Balancing figure) $94,000
To Inventory A/c Dr (Beginning inventory) $5,000
To Purchase account $99,000
In mathematically,
Cost of goods sold = Beginning inventory + purchase - ending inventory
= $5,000 + $99,000 - $10,000
= $94,000
