Answer:
the economy will gravitate to the position of full employment when all variables are flexible
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.
In order to understand both short-run economic fluctuations and how the economy move from short to long run, we need the aggregate supply and aggregate demand model.
An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.
The long-run aggregate supply curve is vertical because the economy will gravitate to the position of full employment when all variables are flexible.
This simply means that, whatever makes the factors of production such as, land, labor, entrepreneurship, capital, or efficiency to either go up or down would certainly result in fluctuations in the economy of a particular country.
Additionally, the long-run aggregate supply curve would shift rightward when immigration from foreign countries rises or technology improves.
20:21
Date d’envoi de votre message : Aujourd’hui, à 20:21
During 2021, its first year of operations, Pave Construction provides services on account of $120000. By the end of 2021, cash collections on these accounts total $90000. Pave estimates that 20% of the uncollected accounts will be uncollectible. In 2022, the company writes off uncollectible accounts of $5400. Required: 1. Record the adjusting entry for uncol
Answer:
A. December 31, 2021
Dr Bad debt expense $6,000
Cr Allowance for uncollectible accounts $6,000
B. 12/31
Dr Allowance for Uncollectible accounts $5,400
Cr Account receivable $5,400
C. $24,000
Explanation:
A. Preparation of journal entry to record the adjustment for uncollectible accounts on December 31 2021
December 31, 2021
Dr Bad debt expense $6,000
Cr Allowance for uncollectible accounts $6,000
($120000-$90000*20%)
(Being to record the adjustment for uncollectible accounts)
B. Preparation of the journal entry to Record the write offs of accounts receivables in 2022
12/31
Dr Allowance for Uncollectible accounts $5,400
Cr Account receivable $5,400
(Being to Record the write offs of accounts receivables)
C. Calculation for the net realizable value of accounts receivable.
Total accounts receivable $30,000
($120,000-$90,000)
Less: Allowance for uncollectible accounts ($6,000)
Net realizable value $24,000
Therefore the net realizable value of accounts receivable will be $24,000
A company purchases a 17,160-square-foot commercial building for $385,000 and spends an additional $56,000 to divide the space into two separate rental units and prepare it for rent. Unit A, which has the desirable location on the corner and contains 3,510 square feet, will be rented for $1.00 per square foot. Unit B contains 13,650 square feet and will be rented for $0.60 per square foot. How much of the joint cost should be assigned to Unit B using the value basis of allocation
Answer: $308,700
Explanation:
First find proportion of rental income that comes from Unit B out of the total:
= (13,650 * 0.60) / [(3,510 * 1) + (13,650 * 0.60)]
= 8,190 / 11,700
= 70%
Joint cost = 385,000 + 56,000
= $441,000
Proportion to be assigned to Unit B:
= 441,000 * 70%
= $308,700
The Paralympic committee’s marketing team developed a mass-communication TV spot to raise awareness of the Paralympic brand. This type of TV spot is an example of ________.
A- Advertising
B- Guerilla marketing
C- Digital Marketing
Changes in Growth and Stock Valuation Consider a firm that had been priced using a 10 percent growth rate and a 13 percent required rate. The firm recently paid a $2.40 dividend. The firm has just announced that because of a new joint venture, it will likely grow at a 11 percent rate. How much should the stock price change (in dollars and percentage)
Answer:
Change in dollars $45.20
Change in percentage 51.36%
Explanation:
Calculation to determine How much should the stock price change (in dollars and percentage)
First step is to calculate the Price before change
Price before change= ($2.40*1.10)/(.13 - .10)
Price before change = $2.64/0.03
Price before change = $88
Second step is to calculate Price after change
Price after change=($2.40*1.11)/(.13 - .11)
Price after change=$2.664/0.02
Price after change = $133.2
Now let calculate the in dollars and percentage
Change in dollars=$133.2 -$88
Change in dollars=$45.20
Change in percentage=$45.20/$88
Change in percentage=0.5136*100
Change in percentage=51.36%
Therefore How much should the stock price change (in dollars and percentage) will be :
Change in dollars $45.20
Change in percentage 51.36%
You are looking at a one-year loan of $13,000. The interest rate is quoted as 9.6 percent plus three points. A point on a loan is 1 percent (one percentage point) of the loan amount. Quotes similar to this one are common with home mortgages. The interest rate quotation in this example requires the borrower to pay three points to the lender up front and repay the loan later with 9.6 percent interest.
Required:
What rate would you actually be paying here?
Answer: 10.3%
Explanation:
The borrower is to pay 3 points on the loan to get it which means that the effective total they are getting is:
= 13,000 * ( 1 - 3%)
= $12,610
The borrower will also have to pay an interest of 7% so the total to pay back is:
= 13,000 * ( 1 + 7%)
= $13,910
Interest actually paid:
= Amount to paid back / Amount to be received - 1
= (13,910 / 12,610) - 1
= 10.3%
PLEASE HELP!!
1) What are some other forms of currency in existence now?
2) Can you think of other examples of currency?
-from Kamps video
Bitcoin, Equal Dollars, Ithaca Hours, Starbucks Stars, Amazon Coins, Sweat.
By the time you turn 30 years old, what insurance do you expect to have?
Phone Insurance
Renter's Insurance
Homeowner's Insurance
Health Insurance
Life Insurance
Car Insurance
honestly you would need all of them because they are very important to have as you get older
QUESTION 6 You discover a technical ‘anomaly’ in the US stock market. You find that stocks that go up X% or more 2 days in a row have an expected alpha of X/100% the following day (for example if a stock goes up 6% and 9%, then the next day its expected alpha is 0.06%). Suppose stock A has a BID-ASK spread of 0.2%, and has gone up 10% and 15% percent in the last 2 days. What is your expected profit (in dollars) if you choose to implement your strategy and take a $1000 position in the stock for one day?
Answer:
i) $98
ii) $148
iii) -$1
Explanation:
The BID-ASK price = 0.2% i.e. the market spread
If stock A has gone 10% and 15% percent in the last 2 days, following the discovered technical anomaly the next day the alpha will be
= 10% / 100%
= 0.1%
Calculate your profit If you take a $1000 position in the stock market for one day
i) assume you take a buy position on day 1 ( 10% )
Your expected profit = ( 10% - 0.2% ) * $1000 = 9.8% * 1000 = $98
ii) assume you take a buy position on day 2 ( 15%)
profit = ( 15% - 0.2% ) * 1000 = $148
iii) assume you take a buy position on day 3 ( 0.1% )
profit = ( 0.1% - 0.2% ) * 1000 = - $1 ( you will make a loss )
In the short term, increasing production is:________.
a) always beneficial because average total cost eventually falls
b) not always beneficial because marginal cost eventually falls
c) not always beneficial because average total cost eventually increase faster
d) always beneficial because marginal cost is constant
2) If a firms average total cost is increasing, the:_______.
a) marginal cost must be lower than average total cost
b) marginal cost must be lower than total cost
c) marginal cost must be higher than averags total cost
d) marginal cost must be higher than total cost
3) In the short term, as production reaches high levels:__________.
a) all costs increase
b) all costs increase except marginal cost
c) all costs increase except average fixed cost
Answer:
1. c) not always beneficial ..... ATC increase faster
2. c) MC > ATC ; 3. c) All except AFC increase
Explanation:
1. In short run, when more & more variable factors are employed on a fixed factor - Total cost first increase at decreasing rate, then at increasing rate. So, Average Total cost first decreases, & then increases (keeps on increasing faster with increase in production).
2. Marginal Cost, Average Total Cost relationship - MC > ATC, AC rises. MC < ATC, ATC falls & MC = ATC, ATC is minimum. So, ATC is increasing when MC is higher than ATC
3. Due to Law of Diminishing Productivity (as explained in 1), higher production implies rise in all costs - TVC, AVC, MC, ATC. But Average Fixed Cost = Total Fixed Cost (constant) / Output (increasing) falls.
During 2016, Bramble Corporation spent $178,560 in research and development costs. As a result, a new product called the New Age Piano was patented. The patent was obtained on October 1, 2016, and had a legal life of 20 years and a useful life of 10 years. Legal costs of $30,000 related to the patent were incurred as of October 1, 2016.
Prepare all journal entries required in 2016 and 2017 as a result of the transactions above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit 2016 (To record research and development expenses)
Answer:
See the journal entries below.
Explanation:
The journal entries will look as follows:
Date Description Debit ($) Credit ($)
2016 Research and Development Expense 178,560
Cash 178,560
(To record research and development costs.)
Patents 30,000
Cash 30,000
(To record legal expenses.)
Patent Amortization Expense 750
Patents [($30,000 / 10) * (3/12)] 750
(To record patent amortization for 2016.)
2017 Patent Amortization Expense 3,000
Patents ($30,000 / 10) 3,000
(To record patent amortization for 2017.)
State of the Economy Probability of the States Percentage Returns Economic recession 25% 5% Moderate economic growth 50% 10% Strong economic growth 25% 13% The standard deviation from investing in the asset is:
Answer:
The standard deviation from investing in the asset is 14.40%.
Explanation:
Note: The data in the question are first sorted before answering the question as follows:
State of the Economy Probability of the States Percentage Returns
Economic recession 25% 5%
Moderate economic growth 50% 10%
Strong economic growth 25% 13%
The standard deviation from investing in the asset is:
The explanation of the answer is now given as follows:
Note: See the attached excel file for the calculation of Variance from investing in the asset.
From the attached excel file, we have:
Variance = 2.07%
Therefore, we have:
Standard deviation = Variance^0.5 = 2.07%^0.5 = 14.40%
Therefore, the standard deviation from investing in the asset is 14.40%.
The company budgeted for production of 2,800 units in April, but actual production was 2,900 units. The company used 21,200 liters of direct material to produce this output. The company purchased 19,100 liters of the direct material at $1.60 per liter. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for April is:
Answer:
the material quantity variance is $1,350 unfavorable
Explanation:
The computation of the material quantity variance is given below:
Materials quantity variance is
= (Actual quantity × Standard price) - (Standard quantity × Standard price)
= (21,200 × $1.50) - [(2,900 × 7) × 1.5]
= $31,800 - $30,450
= $1,350 Unfavourable
Hence, the material quantity variance is $1,350 unfavorable
Sunland Company is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $24 and Sunland would sell it for $62. The cost to assemble the product is estimated at $26 per unit and the company believes the market would support a price of $87 on the assembled unit. What decision should Sunland make
Answer: Sell before assembly, the company will be better off by $1 per unit.
Explanation:
To solve the above question, we need to calculate the incremental profit or loss first. This will be:
= After assembling sales value - Unassembled unit sales value - Coat if further processing
= $87 - $62 - $26
= -$1
Since there is an incremental loss of $1, then the correct answer is "Sell before assembly, the company will be better off by $1 per unit".
Upton Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labor-hours (DLHs). The company has two products, Long and Short, about which it has provided the following data: Long Short Direct materials per unit$15.00 $48.80 Direct labor per unit$17.60 $51.20 Direct labor-hours per unit 0.80 2.40 Annual production 40,000 20,000 The company's estimated total manufacturing overhead for the year is $4,547,200 and the company's estimated total direct labor-hours for the year is 80,000. The company is considering using a variation of activity-based costing to determine its unit product costs for external reports. Data for this proposed activity-based costing system appear below: Activities and Activity MeasuresEstimated Overhead Cost Direct labor support (DLHs) $3,081,600 Setting up machines (setups) 441,600 Part administration (part types) 1,024,000 Total $4,547,200 Expected Activity Long Short Total DLHs32,000 48,000 80,000 Setups1,220 1,900 3,120 Part types980 2,860 3,840 The unit product cost of product Long under the company's traditional costing system is closest to:
Answer:
Unitary cost= $78.07
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 4,547,200 / 80,000
Predetermined manufacturing overhead rate= $56.84 per direct labor hour
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 56.84*0.8= $45.47
Finally, the unitary cost:
Unitary cost= 15 + 17.6 + 45.47
Unitary cost= $78.07
Ober Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 120 Units in beginning inventory 0 Units produced 8,900 Units sold 8,400 Units in ending inventory 500 Variable costs per unit: Direct materials $ 38 Direct labor $ 36 Variable manufacturing overhead $ 6 Variable selling and administrative expense $ 9 Fixed costs: Fixed manufacturing overhead $ 151,300 Fixed selling and administrative expense $ 109,200 Required: a. Prepare a contribution format income statement for the month using variable costing. b. Prepare an income statement for the month using absorption costing
Answer:
Results are below.
Explanation:
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
First, we need to calculate the total unitary variable cost:
Total unitary variable cost= 38 + 36 + 6 + 9
Total unitary variable cost= $89
Now, the income statement:
Sales= 8,400*120= 1,008,000
Total variable cost= 89*8,400= (747,600)
Total contribution margin= 260,400
Fixed manufacturing overhead= (151,300)
Fixed selling and administrative expense= (109,200)
Net operating income= (100)
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
First, we need to calculate the unitary production cost:
Unitary production cost= 38 + 36 + 6 + (151,300 / 8,900)
Unitary production cost= $95
Now, the income statement:
Sales= 1,008,000
COGS= 8,400*95= (798,000)
Gross profit= 210,000
Total selling and administrative expense= 109,200 + (8,400*9)= (184,800)
Net operating income= 25,200
Meiji Isetan Corp. of Japan has two regional divisions with headquarters in Osaka and Yokohama. Selected data on the two divisions follow: Division Osaka Yokohama Sales $ 10,200,000 $ 32,000,000 Net operating income $ 816,000 $ 3,200,000 Average operating assets $ 2,550,000 $ 16,000,000 Required: 1. For each division, compute the return on investment (ROI) in terms of margin and turnover. 2. Assume that the company evaluates performance using residual income and that the minimum required rate of return for any division is 17%. Compute the residual income for each division. 3. Is Yokohama’s greater amount of residual income an indication that it is better managed?
Answer: See explanation
Explanation:
1. The return on investment for Osaka will be:
= (816000/10200000) × (10200000 × 2550000)
= 32%
The return on investment for Yokohama will be:
= (3200000/32000000) × (32000000/16000000)
= 20%
2. See attachment
3. Yokohama’s greater amount of residual income is not an indication that it is better managed. Since Yokohama Division is bigger than Osaka Division, it's expected that Yokohama will have a greater residual amount.
Contract law is a set of laws that covers sales laws and other commercial laws.
t or f
Yong performs research, and creates models for proposed road improvement projects. Her job title is best described as . Roberta analyzes roads to find ways to improve their safety. Her job title is best described as . Timothy checks aircrafts to make sure they meet standards and regulations. His job title is best described as .
Yong performs research, and creates models for proposed road improvement projects. Her job title is best described as
✔ Transportation Planner
Roberta analyzes roads to find ways to improve their safety. Her job title is best described as
✔ Traffic Technician
Timothy checks aircrafts to make sure they meet standards and regulations. His job title is best described as
✔ Aviation Inspector
A job title defines the description of the responsibilities of the position. For all of the above statements, the job title that best describes them is as follows:
What do you mean by job title?A job title refers to a position that is associated with a specific set of responsibilities.
Young performs research and creates models for proposed road improvement projects. Her job title is best described as Transportation Planner. Roberta analyzes roads to find ways to improve their safety. Her job title is best described as Traffic Technician. Timothy checks aircraft to make sure they meet standards and regulations. His job title is best described as Aviation Inspector.
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Braxton Enterprises currently has debt outstanding of million and an interest rate of . Braxton plans to reduce its debt by repaying million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is , what is the interest tax shield from Braxton's debt in each of the next five years?
Answer:
Interest tax shield in year 0 = $1.155 million
Interest tax shield in year 1 = $0.924 million
Interest tax shield in year 2 = $0.693 million
Interest tax shield in year 3 = $0.462 million
Interest tax shield in year 4 = $0.231 million
Interest tax shield in year 5 = 0
Explanation:
Here is the complete question :
Braxton Enterprises currently has debt outstanding of $55 million and an interest rate of 6%. Braxton plans to reduce its debt by repaying $11 million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is 35%, what is the interest tax shield from Braxton's debt in each of the next five years?
interest tax shield is a reduction in tax paid as a result of interest paid on debt
interest tax shield = (debt amount x interest rate x tax rate)
Interest tax shield in year 0 = $55 million x 0.06 x 0.35 = $1.155 million
Debt in year 1 = $55 million - 11million = $44 million
Interest tax shield in year 1 = $44 million x 0.06 x 0.35 = $0.924 million
Debt in year 2 = $44 million - 11million = $33 million
Interest tax shield in year 2 = $33 million x 0.06 x 0.35 = $0.693 million
Debt in year 3 = $33 million - 11million = $22 million
Interest tax shield in year 3 = $22 million x 0.06 x 0.35 = $0.462 million
Debt in year 4 = $22 million - $11 million = $11 million
Interest tax shield in year 4 = $11 million x 0.06 x 0.35 = $0.231 million
Debt in year 5 = $11 million - $11 million = 0
Interest tax shield in year 5 = 0 x 0.06 x 0.35 = 0
Martin Company purchases a machine at the beginning of the year at a cost of $160,000. The machine is depreciated using the double-declining-balance method. The machine’s useful life is estimated to be 4 years with a $13,300 salvage value. The machine’s book value at the end of year 3 is:
Answer:
$6,700.
Explanation:
How to find
Depreciation Expense = Beginning of Year Book Value × Double Straight-line Rate
Depreciation Expense = $160,000 × (2 × 25%) = $80,000 (Depreciation Expense, year 1)
Depreciation Expense = Beginning of Year Book Value × Double Straight-line Rate
Depreciation Expense = ($160,000 − $80,000) × (2 × 25%) = $40,000 (Depreciation Expense, year 2)
Depreciation Expense = Beginning of Year Book Value × Double Straight-line Rate
Depreciation Expense = ($160,000 − $120,000) × (2 × 25%) = $20,000 (Depreciation Expense, year 3) Depreciation Expense = Beginning of Year Book Value × Double Straight-line Rate
Depreciation Expense = ($160,000 − $140,000) × (2 × 25%) = $10,000, but this would reduce the book value to less than salvage. Therefore, depreciation expense in year 4 is limited to $6,700.
(Book value at the beginning of the year, $20,000, minus the $13,300 salvage.)
Colbert operates a catering service on the accrual method. In November of year 1, Colbert received a payment of $9,000 for 18 months of catering services to be rendered from December 1st of year 1 through May 31st of year 3. When must Colbert recognize the income if his accounting methods are selected to minimize income recognition?
a. $500 is recognized in year 1, $6,000 in year 2, and $2,500 in year 3.
b. $500 is recognized in year 1 and $8,500 in year 2.
c. $9,000 is recognized in year 3.
d. $2,500 is recognized in year 1 and $6,500 in year 2.
e. $9,000 is recognized in year 1.
Answer:
b) $500 is recognized in year 1 and $8,500 in year 2.
Explanation:
Calculation to determine When must Colbert recognize the income if his accounting methods are selected to minimize income recognition?
Calculation for amount recognized in year 1
Payment in year 1= $9,000 ÷ 18 months
Payment in year 1= $500
Therefore Based on the above calculation the amount recognized in year 1 will be $500
Calculation for the amount recognized in year 2
Payment in year 2 = $9,000 - $500
Payment in year 2= $8,500
Therefore The amount recognized in year 2 will be $8,500
The E.N.D. partnership has the following capital balances as of the end of the current year: Pineda $ 180,000 Adams 160,000 Fergie 150,000 Gomez 140,000 Total capital $ 630,000 Answer each of the following independent questions: Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $183,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners
Answer:
Goodwill Calculation
Amount paid to Fergie $183,000
Less: Fergie Capital $150,000
Goodwill $33,000
Fergie's share is 20% in Goodwill. Total Goodwill = $33,000 / 20% = $165,000
Calculation of Capital Balance After Fergie's retirement
Pineda Adams Fergie Gomez Total
Opening Balance $180,000 $160,000 $150,000 $140,000 $630,000
Add: Goodwill $49,500 $49,500 $33,000 $33,000 $165,000
(Distributed - 3:3:2:2)
Less: Amount Paid - - ($183,000) - ($183,000)
Balance $229,500 $209,500 - $173,000 $612,000
Stone Company reported $100,000,000 of revenues on its 20X8 income statement. During the year ended December 31, 20X8, Stone made sales of $8,000,000 to external customers in Western Europe. In addition, Stone made sales of $10,000,000 to the U.S. government and $4,000,000 of sales to various state governments. In the footnotes to its financial statements for 20X8, in reporting enterprisewide disclosures, Stone is required to disclose: Segment Reporting the Revenue Identity of Each Major Customer A) Yes No
Answer:
with all that money can't they just get somebody to do it for them
Explanation:
Sheridan Company is planning to sell 1000 buckets and produce 580 buckets during March. Each bucket requires 600 grams of plastic and one-half hour of direct labor. Plastic costs $10 per 600 grams and employees of the company are paid $14 per hour. Manufacturing overhead is applied at a rate of 110% of direct labor costs. Sheridan has 1100 kilos of plastic in beginning inventory and wants to have 600 kilos in ending inventory. How much is the total amount of budgeted direct labor for March
Answer:
Budgeted labour cost = $12,180
Explanation:
Budgeted labour cost for a forth accounting period is the product of the budgeted labour hours and the standard rate per hour.
The standard rate per hour is the amount paid to workers for each hour worked.
The budgeted labour hours is the product of budgeted production units and the standard hours per unit
Budgeted labour cost = 580× 1.5 × $14=$12,180
Budgeted labour cost = $12,180
It is enough to describe the proposed business as a sole proprietorship in the business description
section. True or False?
It is enough to describe a proposed business as a sole proprietorship in the business description section alone. Therefore, it's logically true.
A sole proprietorship simply refers to a form of business where there's only one owner who controls the business. Such a person bears the profit and the loss of the company alone.
It should be noted that it is enough to describe a proposed business as a sole proprietorship in the business description section alone. This is because it's usually a small business and owned by one person.
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25. On January 1, X9, Gerald received his 50 percent profits and capital interest in High Air, LLC, in exchange for $2,700 in cash and real property with a $3,700 tax basis secured by a $2,700 nonrecourse mortgage. High Air reported a $15,700 loss for its X9 calendar year. How much loss can Gerald deduct, and how much loss must he suspend if he only applies the tax basis loss limitation
Answer:
The amount of loss that Gerald
can deduct is $5,050, and how much loss must he suspend if he only applies the tax basis loss limitation is $2,700
Explanation:
Calculation to determine How much loss can Gerald deduct, and how much loss must he suspend if he only applies the tax basis loss limitation
Calculation for Gerald's initial tax basis is
Gerald's initial tax basis= [$2,700 + $3,700 - $2,700 + (50% × $2,700)]
Gerald's initial tax basis= [$2,700 + $3,700 - $2,700 + $1,350]
Gerald's initial tax basis= $5,050
Calculation for Gerald allocation
Gerald 50% allocation =50%*$15,500
Gerald 50% allocation =$7,750
Calculation for the Remaining loss that would be suspended and carried forward indefinitely
Suspended loss= $7,750-$5,050
Suspended loss= $2,700
Therefore the amount of loss that Gerald
can deduct is $5,050, and how much loss must he suspend if he only applies the tax basis loss limitation is $2,700 ($7,750-$5,050)
The money supply fell during the Great Depression because __________
Group of answer choices
the monetary base also fell
the public held less currency, and the banks held less excess reserves
the public held more currency, and the banks held more excess reserves
the Fed did not yet exist
Answer: the public held more currency, and the banks held more excess reserves
Explanation:
The Great Depression, was an economic downturn which brought about the reduction in output, mass unemployment, reduction in investment, banking panics etc.
Some of the factors that led to the Great Depression were the crash in stock market, banking panics which led to reduction in loanable funds. The money supply reduced because the public held more currency, and the banks held more excess reserves.
Partial-Year Depreciation Sandblasting equipment acquired at a cost of $42,000 has an estimated residual value of $6,000 and an estimated useful life of 10 years. It was placed in service on October 1 of the current fiscal year, which ends on December 31, 20Y5. a. Determine the depreciation for 20Y5 and for 20Y6 by the straight-line method. Depreciation 20Y5 $fill in the blank 1 20Y6 $fill in the blank 2 b. Determine the depreciation for 20Y5 and for 20Y6 by the double-declining-balance method.
Answer:
A. Depreciation expense in 20Y5 = $900
Depreciation expense in 20Y6 = $3,600
B. Depreciation expense in 20Y5 = $2800
Depreciation expense in 20Y6 =$7840
Explanation:
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
($42,000 - $6,000) / 10 = $3,600
The depreciation expense would be $3600 each year except in 20Y5. when the equipment was used from October to December which is 3 months
Depreciation expense in 20Y5 = 3/12 x $3600 = $900
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life) = 2/10 = 0.2
Depreciation expense in 20Y5 = 0.2 x $42,000 = $8,400
But the equipment was only used for 3 months, so we would divide the figure above by 3
$8400 / 3 = $2800
Depreciation expense in 20Y5 = $2800
Depreciation expense in 20Y6 = book value in the beginning of 20Y6 x depreciation expense
Book value = cost of the asset - depreciation expense in 20Y5
$42,000 - $2800 = $39,200
Depreciation expense in 20Y6 = $39,200 x 0.2 = $7840
Indicate what happens to the unemployment rate and the labor-force participation rate in each of the following scenarios.
Effect On...
Scenario Unemployment Rate Labor-Force Participation Rate
Kenji, a full-time college student, graduates and is immediately employed.
Lucia quits her job to become a stay-at-home mom.
Paolo has a birthday, becomes an adult, and starts looking for a job.
Sharon dies working long hours at the office.
Answer and Explanation:
The effects are as follows:
a. For kenji
The rate of unemployment would be decreased and the rate of Labor-Force Participation would be increased as the person is employed now
b. For Lucia
The rate of unemployment would be increased and therate of Labor-Force Participation would be decreased as the person is no more employed
c. For Paolo
The rate of unemployment would be increased and therate of Labor-Force Participation would also be increased
d. For sharon
The rate of unemployment would be increased and the rate of Labor-Force Participation would be decreased as the person is no more employed
Your answer is partially correct. Prepare the amortization schedules Sunland will use over the lease term. SUNLAND COMPANY Lease Amortization Schedule Annuity-Due Basis Date Annual Payment Interest on Liability Reduction of Lease Liability Lease Liability 1/1/20 $ 1/1/20 $ $ $ 1/1/21 1/1/22 Lease Expense Schedule Date (A) Straight-Line Expense (B) Interest on Lease Liability (C) Amortization of Right-of-Use Asset (and Liability)
Answer:
c
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