Ask question

Ask question

All categories

2 years ago

5

If Gross Domestic Product was $17 trillion in 2008 and $16 trillion in 2009. Which of the following actions would Congress be mo

st likely to take?

1 answer:

cestrela7 [59]2 years ago

6 0

Answer:

1 trillion

Explanation:

You might be interested in

Gulfcoast, Inc. purchased a van on January 1, 2019, for $ 900 comma 000. Estimated life of the van was five years, and its es

Zarrin [17]

Answer:

$740,200

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,

Depreciation = (Cost - Salvage value)/Estimated useful life

Depreciation = (900,000 - 101,000)/5

= $159,800

Book value is the cost net accumulated depreciation

= $900,000 - $159,800

= $740,200

4 0

3 years ago

Gasoline and bicycles are substitutes in consumption. Suppose we increase the federal gasoline tax to $1 per gallon.

marin [14]

If the federal gasoline tax increases to $1 per gallon, the gasoline price rises, demand for bicycles shifts rightward.

Option B

<u>Explanation:</u>

If the price of gasoline increases, then probably there will be a decrease in the consumption of the same as a result of which the demand for the substitute product, bicycle increases.

Demand curve a graphical representation of changes in the product or service demanded along with the changes in the cost or price of the service or product. Increase in the demand for a product, is generally represented by the rightward shift in the demand curve.

8 0

3 years ago

Pitney Co. purchased an office building, land, and furniture for $639,300 cash. The appraised value of the assets was as follows

serg [7]

Solution :

a).<u> Amount to be recorded on the books for each of the assets.</u>

Working Allocated cost($)

Land (639,300 / 716,016 )x 136,043 121467

Building (639,300 / 716,016 )x 179,004 159825

Furniture (639,300 / 716,016 )x 400,969 358008

Total 639,300

b). <u>Statement model</u>

Assets : Cash + Land + Building + Furniture

639,300 + 121,467 + 159825 + 358008

Cash flow = 639,300

c). <u>Journal entry</u>

General journal Debit($) Credit($)

Land 121,467

Building 159,825

Furniture 358,008

Cash 639,300

5 0

2 years ago

True/False/Explain – If all production processes were subject to constant returns to scales for all output levels, monopolistic

Elena L [17]

The answer is true okay!

4 0

3 years ago

At the time a $400 petty cash fund is being replenished, the company's accountant finds vouchers totaling $350 and petty cash of

Oksi-84 [34.3K]

Answer:

Explanation:

The journal entry to record the expenditure account is shown below:

Postage A/c Dr $100

Business lunches A/c Dr $150

Delivery fees A/c Dr $75

Office supplies /c Dr $25

To Petty cash A/c $350

(Being expenditure is recorded)

So, the debit petty cash account would not be considered as it is credited while passing the journal entry.

7 0

3 years ago