Consumption spending is:__________ A. spending by households, businesses, and government on all goods used up within one year. B. spending by individuals and households on both durable and nondurable goods. C. spending on goods and services by heads of households. D. spending by individuals and households on only nondurable goods, since they are used up quickly.
Answers
Answer:
b. spending by individuals and households on only non-durable goods.
Explanation:
Consumption spending is spending by individuals and households on only non-durable goods. Consumption is a component of GDP which includes spending on goods and services by individuals and households as it includes non-durable as well as durable goods on the basis of consumption patterns.
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Answers
Answer:
$756,000
Explanation:
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Allowance for Bad Debts Closing $780,000
(13,000,000)*6%
Allowance Bad Debt Expense for the year $756,000
Answers
Answer:
The correct option is D, eight months for the first payment; six months for the second payment
Explanation:
From the information provided,it is very clear that interest payment would not made until January 1st 2021,which is 8 months after the date of bond issue.
This means that interest due on July 1st 2020 of two months would be paid together with that which becomes due on 1st January 2021 for six months,hence the first interest payment is for 8 months while the next one would the normal six-month cycle.
As a result,it is convincing enough that option D fits the explanation in all respects.
Answers
Answer:
Entry to record service revenues performed but not yet billed (nor recorded).
Dr Accounts receivable (asset, balance sheet)
Cr Service revenue (revenue, income statement)
Entry to record janitorial expense incurred but not yet paid.
Dr Janitorial expense (expenses, income statement)
Cr Janitorial expenses payable (liability, balance sheet)
Entry to record rent expense incurred but not yet paid.
Dr Rent expense (expenses, income statement)
Cr Rent expenses payable (liability, balance sheet)
Entry to record interest expense incurred but not yet paid.
Dr interest expense (expenses, income statement)
Cr Interest expenses payable (liability, balance sheet)
Entry to record expiration of prepaid rent.
Dr Rent expense (expenses, income statement)
Cr Prepaid rent (asset, balance sheet)
Answer:
the numbering
Explanation:
EDGU 2021
Answers
Answer:
FINANCING LEASE.
trailer 600,000 debit
lease liability 479,825 credit
cash 120,175 credit
--to record Jan 1st entry--
interest expense 38,386 debit
lease liability 81,789 credit
cash 120,175 credit
--to record Dec 31st entry--
Explanation:
The lease is for more than half of the asset useful life. Also, it has a present value equal to the fair value of the trailer. Also, ownership is acquired at the end of the lease life.
To build the schedule we calculate the interest on the principal
then, we subtract that from the installment to get the principal amortization and solve for the remaining at year-end
we repeat this procedure during the life of the lease.
Jan 1st, 2021
the journal entries will recognize the lease liability, the cash from the first payment, and the trailers received
Dec 31st, 2021
Here we must recognize the interest expense as well as the decrease in the lease liability.
Answers
Answer:
The correct solution is "$397000".
Explanation:
Given:
Net income,
= $377000
Depreciation,
= $59000
Accounts receivable increase,
= $27000
Accounts payable decreased,
= $12000
Now,
From operating activities, the cash flow will be:
= By putting the values, we get
=
= ($)
Answers
Explanation:
The computation is shown below:
a. The gross margin is
Gross margin = (Sales revenues - Cost of sales) ÷ (Sales revenues) × 100
= ($10.7 million - $5.9 million) ÷ ($10.7 million) × 100
= 45%
b. The local operating margin is
= (Operating income ÷ Sales) × 100
where,
Operating income is
= (Sales - cost of sales - selling, general & administrative expenses - research & development - Depreciation & Amortization) ÷ (Sales revenue) × 100
= ($10.7 million - $5.9 million - $0.55 million - $1.2 million - $1.4 million) ÷ ($10.7 million) × 100
= ($1.65 million) ÷ ($10.7 million) × 100
= 15.42%
c. Net profit margin
= (Net profit ÷ Sales) × 100
where,
= (Sales - cost of sales - selling, general & administrative expenses - research & development - Depreciation & Amortization) × (1 - tax rate) ÷ (Sales revenue) × 100
= ($10.7 million - $5.9 million - $0.55 million - $1.2 million - $1.4 million) × (1 - 0.35) ÷ ($10.7 million) × 100
= ($1.0725 million) ÷ ($10.7 million) × 100
= 10.02%