Answer:
Fiscal policy
Explanation:
In this scenario, the government of Ukanturk is applying fiscal policies to improve overall economic performance. Two major policies are applied to move and stabilise the economy; monetary policy and fiscal policy. Monetary policy is handled by the state bank and fiscal policy is handled by the government. Taxation is a part of a fiscal decision.
Answer:
c. Report $10,000 revenue and expense | Disclose in the notes
Explanation:
Not-for-profit entities must report the fair value of all the goods they receive as donations. in this case, they would have to report the $10,000 worth of food received from a local supermarket. But they are not required to report the value of volunteer work, they only have to disclose it on the footnotes of their financial statements.
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Answer:</h3>
Debiting salaries Expense $400 and Crediting Salaries payable $400.
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Explanation:</h3>
We are given;
1 employees earns $ 100 a day
Therefore;
2 employees will earn $ 200 a day
The month ends on Tuesday, but the two employees works on Monday and Tuesday.
- Therefore, the month-end adjusting entry to record will be the amount earned by the two employees on the two days.
Two employees for 2 days = $200/day × 2 days
= $400
- But, salary is an expense, and in the accounts an increase in expense account is debited.
- According to the rule of double entry, an increase in salaries expense decreases the salaries payable. Therefore, we debit salaries expense account and credit salaries payable account.
- Therefore, the month-end adjusting entry to record the salaries earned but unpaid would be;
Debiting salaries Expense $400 and Crediting Salaries payable $400.
Answer:
decrease in the day's sales inventory
Explanation:
Corner Hardware has succeeded in increasing the number of goods it sells while holding the amount of inventory on hand, cost per unit, and the selling price per unit at a constant level.
This situation will be reflected in the firm's financial ratios in the form of a decrease in the day's sales inventory.
Answer:
Journalize the transactions is given below
Explanation:
given data
Issued = 66,500 shares
cash = $6 per share
Issued = 41,500 shares
cash = $8 per share
solution
we get here Journalize the transactions
and we assuming that the common stock has a par value of $6 per share
so
Jan. 10 cash is 66,500 × 6 = 399000
and cash for July 1 is = 41,500 × 8 = 332000
and common stock = 41,500 × 6 = 249000
paid in capital excess = 332000 - 249000 = 83000
Date Account Titles Debit Credit
Jan. 10 cash 399000
common stock 399000
July 1 cash 332000
common stock 249000
paid in capital excess 83000
