Explanation:
a. Total income formula is:
Y= C+I+G+NX
Y=20.1+3.5+5.2+(-1)
Y= $27.8 billion
b. In closed economies, income is calculated with this formula:
I=Y-C-G
I= 1.5-1-0.8
I= -$0.3 trillion
In open economies, income cannot be calculated because net exports (NX) data is missing.
c. NX is
NX= 576-445-115-81
NX= -$65 billion
NX is exports minus imports, in this case imports are more than exports. To calculate exports you need imports data.
Answer:
the amount of interest that is collected is $503.75
Explanation:
The computation of the amount of interest that is collected is shown below:
= Cash loan × number of days ÷ total number of days × rate of interest
= $31,000 × 90 days ÷ 360 days × 6.5%
= $503.75
Hence, the amount of interest that is collected is $503.75
This is the answer but the same is not provided in the given options
We simply applied the above formula so that the correct value could come
And, the same is to be considered
<span>A typical married couple would probably be a. Gilbert would be for splitting the household chores on the basis of time spent on each task. However, it is a bit unusual to actually calculate the time it takes for each task. B. and c. doesn't make sense. D. is also valid, however.</span>
Answer:
See explanation section
Explanation:
To record the journal entry to write off the uncollectible account according to the direct write-off method, we have to use bad dad expanse instead of an allowance account.
December 31 Bad Debt Expense Debit $1,200
Account receivable - Acme, Inc. Credit $1,200
Note: As the company did not get the money from the Acme, Inc., They treated the expense as irrecoverable.