Answer and Explanation:
The journal entries are shown below:
On Aug 1
Short-term investments $70,000
To Cash $70,000
(Being the short term investment is recorded)
Here short term investment is debited as it increased the asset and credited the cash as it decreased the asset
On Oct 30
Cash ($70,000 × 11% × 90 days ÷ 360 days) 1,925
To Interest revenue $1,925
(Being the interest revenue is recorded)
here cash is debited as it increased the asset and credited the interest revenue as it also increased the revenue
Here we assume 360 days in a year
Based on economic indices, when we want to measure wage inflation in the labor market, we use the "<u>Consumer Price Index."</u>
The consumer price index, often referred to as CPI, is conducted by the <u>Bureau of Labor Statistics. </u>
CPI is carefully made to measure the price changes encountered by urban consumers.
It is believed that the urban dwellers formed about 93 percent of the United States population.
Consumer Price Index is used to measure the relationship between wage and inflation.
Hence, in this case, it is concluded that the correct answer is "Consumer Price Index."
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Answer:
Correct options are: (D), (E), (F).
Explanation:
Since the dog seller does not pay taxes, he is evading tax and is therefore conducting illegal transactions. Illegal transactions are excluded from GDP.
Mowing the law does not have an imputed market value and is excluded from GDP.
Government spending on food stamps is a transfer payment since no value gets added in return, therefore is excluded.
Answer:
The journal entries to record both transactions should be:
February 1, 2018, repurchase of 1,000 stocks at $47
Dr Treasury stocks 47,000
Cr Cash 47,000
April 10, 2019, treasury stocks were sold at $50
Dr Cash 50,000
Cr Treasury stocks 47,000
Cr Additional paid in capital 3,000
Treasury stocks account is a contra equity account with a debit balance that reduces the value of total stockholders' equity.
Financial institutions are organizations that process monetary transactions, including business and private loans, customer deposits, and investments. Some examples of depository financial institutions are commercial banks and credit unions. Some examples of Non-depository institutions are mutual funds, Security Firms (Investment banking, Equity Broking), Pension Funds, and Insurance Companies.