Answer:
B. a debit to Interest Expense for $ 42 comma 750.
C. a credit to Cash of $ 137 comma 750.
Explanation:
Payment of Note Payable includes the payment of interest on the outstanding balance and principal amount of the note. In this question it is the first payment of the note payable, so the outstanding balance is the face value of the note, Interest is calculated using this value, A fix payment of $95,000 is also made.
As per given data
Principal Payment = $95,000
First Interest payment = $475,000 x 9% = $42,750
Total Payment = $95,000 + $42,750 = $137,750
Journal Entry for first payment
Dr. Interest Expense $42,750
Dr. Not Payable $95,000
Cr. Cash $137,750
Answer:
C. Responsiveness of quantity demanded to a percentage change in income.
Explanation:
Income elasticity is defined as the responsiveness of the quantity of a good demanded by an individual as his income changes, all other factors being constant.
Mathematically it is calculated as percentage change in quantity demanded divided by percentage change in income.
Income elasticity is used to find out if a good is a necessity or a luxury good.
The demand for goods that are a necessity does not change with a change in income.
However demand for a luxury good increases as income increases and vice versa
When using horizontal differentiation, a firm divides itself into sub units based on function, type of business, or Geographic area
Horizontal differentiation
Is basically concerned with how the firm decides to divide itself into sub units. The decision is typically made on the basis of function, type of business, or geographical area. In many firms, just one of these criteria predominates, but more complex solutions are adopted in others. This is particularly likely in the case of international firms, where the conflicting demands to organize the company around different products (to realize location and experience curve economies) and different national markets (to remain locally responsive) must be reconciled. One solution to this dilemma is to adopt a matrix structure that divides the organization on the basis of both products and national markets.
Functional structure :
A functional structure can work well for a firm that is active in a single line of business and focuses on a single geographic area. But problems can develop once the firm expands into different businesses or geographies.
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Answer:
The answers are:
- A) Government tax revenue minus the sum of government purchases and transfer payments to households.
- B) a budget surplus
Explanation:
The formula to calculate public saving is (T - G - TR).
- T stands for all the government revenue through taxes and tariffs.
- G stands for all the government spending including purchase of goods and provision of services.
- TR stands for all the government transfers including payments to individuals and households through social programs (including social security).
Budget surplus is the same as public saving.
Answer: (C) One advantage of an LLC is that its owner has only limited liabilities.
Explanation:
A Limited Liability Company (LLC) has the main advantage of its owners having only a limited liability when it comes to debts and liabilities. This is because the LLC is a bit of a mixture between a partnership and a corporation.
This mix results from the fact that LLCs are formed by partners but their personal assets will be separated from the business like in Corporations which means that in case of default, only the assets they brought into the business will be targeted.