The sequence of events that results in a new equilibrium interest rate, after the Fed makes the change you selected, may be described as follows:
Because there is ______________ money in the financial system, the quantity of interest-bearing financial assets such as bonds demanded _____________, which means that bond issuers __________________ sell the bonds. This process continues until the new equilibrium interest rate is achieved.
Answers
Answer:
Following are the responses to the given question:
Explanation:
Due to the increased amount of currency in the banking sector, the amount of interest-bearing economic stocks and bonds has reduced, because when interest rates fall and bond demand rises or vice versa, the interplay between bond yields and bond prices grows In this case, bond demand will decline, implying, therefore, corporate bonds must increase interest for issue debt still. It is because, whereas if bond rates increase, the price of the bond will drop, that will lead to an increase in the consumption for bonds.
Related Questions
The mean of a set of data is 5.07 and its standard deviation is 3.39.
Find the z-score for a value of 9.65.
Answers
Answer:
1.35
Explanation:
zscore= (x-mean)/(Standard deviation)
(9.65-5.07)/3.39= 1.35
Emily and Betsey are economists. Emily thinks that the wealthiest 10 percent of the U.S. population should be taxed a rate higher than the rest of society because they can better afford it. Betsey thinks that everyone should be taxed at the same rate because that is the fairest scenario and the wealthy should not be penalized for their success. In this example, Emily and Betsey:______
Answers
Answer: b. have different normative views about tax policy.
Explanation:
Economists follow different theories and principles on how the world should be so most times they will disagree with each other on key issues such as taxation and government intervention in markets.
Emily and Betsy both believe in different taxation policies which means that they have different views on how people should be taxed in an economy with one of them believing in a proportional tax regime (Betsey) and the other believing in a progressive tax regime (Emily).
The Molding Department of Boswell Company has the following production data: beginning work process 40,000 units (60% complete), started into production 730,000 units, completed and transferred out 690,000 units, and ending work in process 80,000 units (40% complete). Assuming materials are entered at the beginning of the process equivalent units materials are:____. a. 500,000.b. 425,000.c. 450,000.d. 525,000.The Molding Department of Boswell Company has the following production data beginning work process 40,000 units (60% complete) started into production 730,000 units, completed and transferred out 690,000 units, and ending work in process 80,000 units (40% complete). Assuming materials are entered at the beginning of the process equivalent units for materials are:____.a. 770,000. b. 650.000. c. 690.000. d. 810.000.
Answers
Answer: 770,000
Explanation:
Assuming materials are entered at the beginning of the process, the equivalent units materials will be:
Beginning work process = 40,000 units
Started into production = 730,000 units
Then equivalent units materials will be:
= 40000 + 730000
= 770000
The journal entry a company uses to record fully funded pension rights for its salaried employees at the end of the year is
a. debit Pension Expense; credit Unfunded Pension Liability and Cash.
b. debit Pension Expense; credit Unfunded Pension Liability.
c. debit Pension Expense; credit Cash.
d. debit Salary Expense; credit Cash.
Answers
Answer:
The answer is C.
Explanation:
The correct option to the question is C.
Debit pension expense and credit cash.
Because the pension expense account is increasing, we debit. Increase in expense goes to the debit side.
And because cash is reducing by paying out pension expense from there, we credit the cash account. Decrease in asset(like cash) goes to the credit side.
Haier has achieved great success in becoming a global leader in the appliance industry and is doing so with these beneficial strategies.
a. True
b. False
Answers
Answer:
a. True
Explanation:
It is correct to say that a company like Haier, which has become a global leader in the household appliance industry segment, has developed a beneficial strategy for success, as entering a global market can be a great challenge for companies, as it requires business, product and services of the company to the local market that includes cultural and social differentiation in the preferences for products and services. So it is correct to say that the company has adopted a beneficial global strategy that gives it significant advantages such as market positioning, cost reduction, greater competitive capacity, greater brand value, increased profitability, etc.
Nash's Trading Post, LLC recorded the return of $150 of goods originally sold on credit to Discount Industries. Using the periodic inventory approach, Nash's would record this transaction as:
Accounts Payable 150
Sales Returns and Allowances 150
Sales Returns and Allowances 150
Accounts Receivable 150
Accounts Receivable 150
Sales Returns and Allowances 150
Inventory 150
Accounts Receivable 150
Answers
Answer:
Sales Returns and Allowances 150
Accounts Receivable 150
Explanation:
When goods are returned, the sales revenue decreases through Sales Returns and Allowances which is an expense. So, it is debited and the goods sold on account, the Accounts Receivable which is an asset decreases, so it is credited.
Account Titles and Explanations Debit Credit
Sales Returns and Allowances $150
Accounts Receivable $150
(To record sales returns)
Which of the following tasks is not required when using a two-stage activity-based costing model?A. Determining the cost per unit of activityB. Determining how much direct labor each cost object consumesC. Identifying activitiesD. Assigning costs to activities
Answers
Answer:
Option B
Explanation:
In simple words, Activity-based budgeting (ABC) is a better way to allocate overhead expenses. The expense of each recurrence of an overlay occurrence throughout the procedure is determined during first step of allocation. The cost of every incidence is then allocated to individual things manufactured by the company inside the second stage.
Thus, from the above we can conclude that the correct option is B.
how van an oligopoly cause market failure (8)
Answers
The correct answer to this open question is the following.
Although there are no options attached we can say the following.
An oligopoly can cause market failure because companies that form the oligopoly do not allow other companies to enter and compete in the market. This action limits consumers to choose from a variety of options, including quality, the best price, and service.
Often, oligopoly associates the strongest or more powerful companies in order to wipe out other minor competitors. They want to establish a dominant presence that affects prices and consumers participation.
Oligopoly practices result in inefficiency and instability in the market. That is why oligopolies are not good for the economy.
The automobile industry is mostly associated with an oligopoly.
When a market is controlled by just a few numbers of companies, but none of them is above the others, we are talking about an oligopoly. They can collude intentionally or not, to establish prizes and to not let other companies compete with them.
The largest item of the Deferred Tax Liability for most companies is caused by:________.
a. providing the allowance for doubtful accounts for book purposes.
b. differences in inventory cost flow assumptions (FIFO vs. LIFO) for tax versus financial accounting purposes.
c. differences in depreciation methods (accelerated vs. straight-line) for tax versus financial accounting purposes.
d. amortizing bond premium or discount for tax purposes.
Answers
Answer: c. differences in depreciation methods (accelerated vs. straight-line) for tax versus financial accounting purposes.
Explanation:
A Deferred tax liability arises as a result of the tax authorities using a different accounting convention from the business. This leads to a situation where the company records more tax than the tax authorities do so the company will recognize the extra tax as a liability until it is paid.
The main cause of this is the difference in depreciation methods. The tax authorities use an accelerated method which would lead to a lower profit in early years which would translate to a lower tax. The company on the other hand would use straight line depreciation and calculate a higher tax. The difference is called the deferred tax liability.
a mixed economy combines features of other economic system by
Answers
Answer:
allowing some government regulation of a mostly free market economy
Explanation:
Globe Manufacturing Company has just obtained a request for a special order of 12,000 units to be shipped at the end of the current year at a discount price of $7.00 each. The company has a production capacity of 90,000 units per year. At present, Globe is only selling 80,000 units per year through regular channels at a selling price of $11.00 each. Globe's per unit costs at an 80,000 unit level of production and sales are as follows:
Variable manufacturing expenses $4.60
Fixed manufacturing expenses $1.80
Variable selling and administrative expenses $1.00
Fixed selling and administrative expenses $0.45
Variable selling and administrative expense will drop to $0.30 per unit on the special order units. The special order has to be taken in its entirety. This means that by accepting the special order, Globe will be forced to not sell 2,000 units to its regular customers.
Required:
If Globe accepts this special order, by what amount will its net operating income increase or decrease?
Answers
Answer:
Globe Manufacturing Company
f Globe accepts this special order, its net operating income will decrease by:
= $19,300.
Explanation:
a) Data and Calculations:
Special order units = 12,000
Special order price = $7.00 each
Annual Production Capacity = 90,000 units
Annual Sales Units = 80,000
Normal selling price = $11
Per unit costs at 80,000 units level:
Variable manufacturing expenses $4.60
Fixed manufacturing expenses $1.80
Variable selling and administrative expenses $1.00
Fixed selling and administrative expenses $0.45
Variable manufacturing expenses $4.60 * 12,000 = $55,200
Fixed manufacturing expenses $1.80 * 10,000 = $18,000
Variable selling and administrative expenses $0.30 * 12,000 = $3,600
Fixed selling and administrative expenses $0.45 * 10,000 = $4,500
Lost revenue from non-sale of 2,000 at $11 = $22,000
Total costs of special order = $103,300
Sales revenue from special order = $84,000 ($7 * 12,000)
The net operating income will decrease by $19,300 ($103,300 - $84,000)
A company started the year with $1,500 of supplies on hand. During the year the company purchased additional supplies of $800 and recorded them as increase to the supplies asset. At the end of the year the company determined that only $300 of supplies are still on hand. What is the adjusting journal entry to be made at the end of the period
Answers
Answer:
Debit : Supplies Expense $2,000
Credit : Supplies $2,000
Explanation:
The adjusting journal entry to be made at the end of the period should reflect the usage of supplies.
Supplies used = Opening Balance + Purchases - Inventory Balance
therefore,
Supplies used = $1,500 + $800 - $300
= $2,000
A Debit to Expense Account - Supplies Expense and A Credit to Asset Account - Supplies must be made to depict the usage of supplies.
Mackie Services operates a website that links experienced statisticians with businesses that need data analyzed. Statisticians post their rates, qualifications, and references on the website, and Mackie receives 25% of the fee paid to the statisticians in exchange for identifying potential customers. Hoffman Associates contacts Mackie and arranges to pay a consultant $1,500 in exchange for analyzing some data. Mackie's income statement would include the following with respect to this transaction:_________
a. Revenue of $1,875 and cost of services of $1,500
b. Revenue of $1,500
c. Revenue of $1,500, and cost of services of $1,125
d. Revenue of $375
Answers
Answer:
d. Revenue of $375
Explanation:
The amount paid by the Vetmed associates is an expense for associates
The amount received by statisticians is a revenue for them
Mackie Services an intermediate between the two and so, the percentage amount received by Mackie Services is a revenue
Mackie's income statement would include a revenue of:
= Amount paid to statisticians * % Received
= $1,500 * 25%
= $375
Your grandmother has promised to give you $5,000 when you graduate from college. She is expecting you to graduate two years from now. What happens to the present value of this gift if you delay your graduation by one year and graduate three years from now?
a. remains constant
b. increases
c. decreases
d. becomes negative
e. cannot be determined from the information provided
Answers
Answer:
c
Explanation:
The petty cash fund of the Brooks Agency is established at $250. At the end of the current period, the fund contained $172 and had the following receipts: entertainment, $41; postage, $25; and printing, $12.
Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period.Identify the two events from the following that cause a Petty Cash account to be credited in a journal entry.
a. Fund amount is being reduced.b. Fund amount is being increased.c. Fund is being eliminatedd. Fund is being established.
Answers
Answer:
a.
Date Account Title Debit Credit
XX-XX-XX Petty Cash $250
Cash $250
b.
Date Account Title Debit Credit
XX-XX-XX Entertainment expense $41
Postage $25
Printing $12
Petty Cash $ 78
Date Account Title Debit Credit
XX-XX-XX Petty Cash $78
Cash $78
2. Reasons why a Petty Cash account would be credited:
a. Fund amount is being reduced.
c. Fund is being eliminated
When the fund is being reduced by expenses, it is credited as shown above.
When the fund is to be eliminated, it will be credited so as to remove all the money in it.
Clem is married and is a skilled carpenter. Clem’s wife, Wanda, works part-time as a substitute grade school teacher. Determine the amount of Clem’s expenses that are deductible for AGI this year (if any) under the following independent circumstances:___________a) Clem is self-employed and this year he incurred $525 in expenses for tools and supplies related to his job. Since neither were covered by a qualified health plan, Wanda paid health insurance premiums of $3,600 to provide coverage for herself and Clem (not through an exchange).b) Clem and Wanda own a garage downtown that they rent to a local business for storage. This year they incurred expenses of $1,250 in utilities and $780 in depreciation.c) Clem paid self-employment tax of $15,300 (the employer portion is $7,650), and Wanda had $3,000 of Social Security taxes withheld from her pay.d) Clem paid $45 to rent a safe deposit box to store his coin collection. Clem has collected coins intermittently since he was a boy, and he expects to sell his collection when he retires.
Answers
Answer:
A. $4,125
B. $2030
C. $9650
D. $0
Explanation:
Calculation to determine the amount of Clem’s expenses that are deductible for AGI this year
A. AGI=Tools and supplies + Health insurance
AGI=$525+$3600
AGI=$4125
Therefore the amount of Clem’s expenses that are deductible for AGI this year is $4125
B. AGI=Tools and supplies +Health insurance ar
AGI=$1,250 +$780
AGI=$2030
Therefore the amount of Clem’s expenses that are deductible for AGI this year is $2030
C. Based on the information given, the EMPLOYER PORTION of the amount of $7,650 will be the EMPLOYER PORTION of the self-employment tax is deductible.
D. Based on the information given The amount of Clem’s expenses that are deductible for AGI this year is $0 reason been that The safe deposit fee is an ITEMIZED DEDUCTION .
Many governments around the world attempt to improve the incomes of commodity producers by taking steps to increase the commodity price in the domestic market. Although this may reduce quantity demanded for the product, the action may be effective because:
Answers
Answer:
This action may be effective because commodity demand tends to be inelastic, so the higher prices may result in higher income for commodity producers, at least in the short term.
Explanation:
Essential commodities such as basic food items, gasoline, electricity, water, and other utilities, tend to have an inelastic demand simply because consumers cannot go without them, and they tend to prioritize these commodities over other goods and services.
This means that the higher prices caused by government intervention do not necessarily result in less demand, and the same amount of people buying the same amount of commodities at a higher price simply means a higher sales revenue for commodity producers.
You took ACC111 where the Owner's Equity section consisted of Capital and Owner's Withdrawals. Now that you've seen the corporate structure of the Owner's Equity section, how do the individual items in the Sole Proprietor's Equity section translate to the Corporate Equity section? For example, Revenues are closed out into Capital for Sole Proprietor, Where does it go for Corporate?
Answers
Answer:
Revenues are closed out to Equity (Retained Earnings) for Corporate.
Explanation:
Actually, for both Sole Proprietor and Corporate, the account that is closed out to Capital or Equity is the difference between the Revenue and the Expenses for the accounting period. This is more specifically referred to as Net Income. This is the bottom-line profit, which is available for distribution to the owners of the entity in the form of capital withdrawals for Sole Proprietorships and dividends for Corporate entities.
'Economies of scale refers to Select one:
A. The notion that small firms are less bureaucratic and, therefore, more efficient than corporations
B. Public investments in highways, schools, utilities, etc.
C. The fact that large producers may be able to use more efficient technologies
D. The reallocation of labor from less productive to more productive uses.
Answers
Answer:
publich investment in highways
For each of the following situations involving annuities, solve for the unknown. Assume that interest is compounded annually and that all annuity amounts are received at the end of each period.-interest rate, and n number of years EV of $1, PV of $1, EVA of $1 PVA of $1, EVAD of $1 and PVAD of $ Use appropriate factor(s) from the tables provided. Round your final answers to nearest whole dollar.
Present Value Annuity Amount i = n =
1. ___________ $2,600 8% 5
2. 507,866 135,000 ___ 4
3. 661,241 170,000 9% ____
4. 540,000 78,557 ___ 8
5. 230,000 _____________ 10% 4
Answers
Answer:
Following are the solution to the given question:
Explanation:
For point 1:
[tex]Annuity\ Amount= \$2,600\\\\i=8\%\\\\n=5\\\\Present\ Value=?[/tex]
Our table shows that the factor is equal at 3.99271 for 8 percent and 5 periods. In addition to this, the present value is $10,381 dollars in the annuity.
For point 2:
[tex]Present \ Value=507,866\\\\ Annuity \ Amount= 135,000\\\\ i =?\\\\n =4[/tex]
[tex]\text{Present Value of Ordinary Annuity = Annuity Amount} \times PVOA \ Factor[/tex]
[tex]507,866 = 135,000 \times PVOA \ Factor\\\\\frac{507,866}{135,000} = PVOA \ Factor\\\\3.76197 = PVOA\ Factor[/tex]
When looking at our n=4 row table, we notice that perhaps the factor of PVOA is equal to 3,56197 whenever the rate is equal to 2,5%.
For point 3:
[tex]Present\ Value=661,241\\\\ Annuity\ Amount= 170,000\\\\ i = 9\% \\\\n =?[/tex]
[tex]\text{Present Value of Ordinary Annuity = Annuity Amount} \times PVOA \ Factor[/tex]
[tex]661,241 = 170,000 \times PVOA\ Factor \\\\\frac{661,241}{170,000} = PVOA \ Factor\\\\3.88965 = PVOA \ Factor[/tex]
If you really are looking at our table in column i = 9%, we found PVOA is 3.88965 if n is 5.
For point 4:
[tex]Present\ Value= 540,000 \\\\Annuity \ Amount=78,557\\\\ i = ?\\\\n =8[/tex]
[tex]\text{Present Value of Ordinary Annuity = Annuity Amount} \times PVOA \ Factor[/tex]
[tex]540,000 = 78,557 \times PVOA\ Factor\\\\\frac{540,000}{78,557} = PVOA \ Factor\\\\6.873989 = PVOA \ Factor[/tex]
If you verify our table for n = 8 lines, the PVOA factor is approximately 6.87399 when the rate of interest is 3.5 percent.
For point 5:
[tex]Present\ Value=230,000\\\\ Annuity\ Amount=?\\\\ i =10\%\\\\ n =4[/tex]
The PVOA factor is 3.16997 when we search our table with i = 10% and n = 4.
[tex]230,000 = Annuity \ Amount \times 3.16987\\\\\frac{230,000}{3.16987} = Annuity\ Amount\\\\72,558 = Annuity\ Amount\\\\annuity\ total= \$72,558.[/tex]
During May, Bergan Company incurred factory overhead costs as follows: indirect materials, $8,800; indirect labor, $6,600; utilities cost, $4,800; and factory depreciation, $9,000. Journalize the entry to record the factory overhead incurred during May.
Answers
Answer:
Dr Factory Overhead $29,200
Cr Materials 8800
Cr Wages payable 6600 Cr Utilities Payable 4800
Cr Accumulated Depreciation-Factory 9000
Explanation:
Preparation of the entry to record the factory overhead incurred during May.
Dr Factory Overhead $29,200
($8,800 + $6,600 + $4,800 + $9,000)
Cr Materials 8800
Cr Wages payable 6600 Cr Utilities Payable 4800
Cr Accumulated Depreciation-Factory 9000
(To record the factory overhead incurred during May)
The marginal seller is the seller who Group of answer choices cannot compete with the other sellers in the market. would leave the market first if the price were any lower. can produce at the lowest cost. has the largest producer surplus.
Answers
Answer:
would leave the market first if the price were any lower.
Explanation:
Utility can be defined as any satisfaction or benefits a customer derives from the use of a product or service.
Thus, any satisfaction or benefits a customer derives from the use of a product or service is generally referred to as a utility.
In Economics, The law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.
A marginal seller refers to an individual or business firm that is most willing to sell his or her goods and services at a price that is typically equal to their economic cost while forfeiting producer surplus.
A producer surplus is the amount a buyer is willing to pay for a good minus the cost of producing the good.
Hence, a marginal seller is the seller who would leave the market first if the price were any lower.
Classify each of the following statements as positive or normative.
Statement positive negative
Economic development should not take place at the expense of social justice.
The government can increase labor productivity by improving public education.
Society faces a short-run trade-off between inflation and unemployment.
The Federal Reserve should take action to lower the inflation rate.
The government must take action to reduce the unemployment rate.
Answers
Answer:
Positive Economics is the branch that deals with analysis of relationship among variable for establishment of cause and effects.
Normative Economics is the branch that deals with value judgement, what ought to be and not.
Statement Classification
1. Economic development should not Normative Economics
take place at the expense of social justice.
2. The government can increase labor Positive Economics
productivity by improving public education.
3. Society faces a short-run trade-off Positive Economics
between inflation and unemployment.
4. The Federal Reserve should take Normative Economics
action to lower the inflation rate.
5. The government must take action Normative Economics
to reduce the unemployment rate.
Run-of-the-Mills provides your marketing firm with the following data: When the price of guppy gummies decreases by 5%, the quantity of frizzles sold increases by 4% and the quantity of mookies sold decreases by 6%. Your job is to use the cross-price elasticity between guppy gummies and the other goods to determine which goods your marketing firm should advertise together.
Answers
Answer:
guppy gummies and frizzles are complementary goods and should be advertised together
Explanation:
Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.
If cross price elasticity of demand is positive, it means that the goods are substitute goods.
Substitute goods are goods that can be used in place of another good.
When the price of gummies decreased, the demand for mookies decreased. these goods are substitutes and should not be advertised together
If the cross-price elasticity is negative, it means that the goods are complementary goods.
Complementary goods are goods that are consumed together
When the price of gummies decreased, the demand for frizzles increased. the cross price elasticity would be negative. thus they are complements and should be advertised together.
For each example presented below, identify the managerial skill being illustrated.
a. Charles didn't get much done today because he wasted a lot of time worrying that his coworker was going to gossip about him to their supervisor.
b. Although you usually believe that personality tests are not useful in hiring contexts, you feel they are appropriate in this case because the interviewer took the time to explain why the organization uses them and how they will be used,
c. You contributed more than of the material for the project for which your team got a performance bonus, but you only received 25% of the bonus amount.
A job candidate you are interviewing acts nervous, gives a weak handshake, and fails to talk with confidence. Although the rest of the interview goes well and the candidate seems to have the characteristics you are looking for you give mediocre ratings because of the poor start to the interview.
1. First impression bias
2. The halo effect
3. The contrast effect
4. Selective perception
Answers
Question Completion with Options:
1. Interactional Fairness
2. Distributive Fairness
3. Procedural Fairness
4. Trust
Answer:
1. Managerial skills being illustrated in each of the examples presented:
a. Trust
b. Interactional fairness
c. Distributive fairness
2. 1. First impression bias
Explanation:
Trust: Here, Charles showed a lack of trust in one of his colleagues who was a gossip.
Interactional fairness: The quality of time spent interacting with another person can improve perceptions and relationships.
Distributive fairness: This involves a comparison of outcome with the cost incurred to earn the benefit.
Procedural fairness requires fairness in decision-making without bias.
Tỉnh nào ở Việt Nam nhiều cao su nhất
Answers
Tỉnh nào ở Việt Nam nhiều cao su nhất?
Answer:-
Tỉnh Đông Nam Bộ có nhiều cao su nhất.
Corner Store posts on its website an offer of a reward for information leading to the apprehension of a certain criminal. This offer could normally be terminated by:______.
A) a post on the website.
B) a notice in the local newspaper.
C) a sign in the brick and mortar store.
D) a sign posted in a police station.
Answers
Answer:
a sign posted in a police station ✓
Assuming purchase costs are rising, determine which of the statements below are correct regarding the cost of goods sold under FIFO, LIFO and weighted average cost flow methods.A. Companies using FIFO will report the highest gross profit and net income. B. Companies using FIFO will pay higher taxes than companies using LIFO, assuming all else
being equal. C. Weighted average cost of goods sold will be between FIFO and LIFO costs of goods sold. D. Companies using FIFO will report the smallest cost of goods sold.E. Companies using LIFO will report the smallest cost of goods sold.
Answers
Answer:
A
B
C
D
Explanation:
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.
FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold
Weighted average cost method calculates the cost of goods sold as the weighted average of cost of inventory
In periods of rising prices, later purchased goods would have a higher price. As a result, LIFO would report a lower net income while companies using FIFO would report the highest gross profit and net income.
Because of the high net income reported under FIFO, tax paid would be the highest too
Economic goals for sustainable development can be formulated ________. Group of answer choices by disentangling them from social goals only if we include environmental and social goals in the planning only if there is a complete overlap with social and environmental goals on their own terms without reference to environmental goals only if we exclude environmental goals
Answers
Answer:
only if we include environmental and social goals in the planning.
Explanation:
An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.
Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.
Sustainable development can be defined as an idea or development model that is typically aimed at providing basic human needs such as food, fiber, textiles, etc., without compromising or jeopardizing the ability of future generations to create agricultural solutions to their own basic needs.
Generally, economic goals for sustainable development and growth of a country can be formulated only if environmental and social goals are included in the planning.
On 1/1, Florida Power and Light Energy bought a single piece of equipment by paying $7,000 cash. They also incurred freight charges and taxes of $224 on 1/1 and paid for these items with cash, also. The market value of this equipment is $13,000. What amount should be recorded in Florida Power and Light's Equipment Account on 1/1?
Answers
Answer:
the amount that should be recorded in Florida Power and Light's Equipment Account on 1/1 is $7,224
Explanation:
The computation of the amount that should be recorded in Florida Power and Light's Equipment Account on 1/1 is shown below:
= Purchase price of an equipment + freight charges & taxes
= $7,000 + $224
= $7,224
Hence, the amount that should be recorded in Florida Power and Light's Equipment Account on 1/1 is $7,224
