Accounting records are papers used to analyze and also prepare financial statements. Accounting records are additionally documents which deserve to be used to assess the performance of a agency and also additionally serves as resource of records for audit functions.

You are watching: Which of the following is not an essential part of the accounting records

The followings are necessary parts of accounting records; balance sheet, statement of cash flow, the ledgers , the journals, revenue statements etc.



Assume the money supply is $800, the velocity of money is 8, and also the price level is 2. Using the amount concept of money: a. De

brickandmortarphilly.com:

a. Real output = 3200

b. The nominal output = 6400

c. The real output increases with a boost in 20% money supply.

Explanation:

Money supply = $800

Velocity = 8

The price level = 2

The quantity concept is as follows:

Money supply × Velocity = Price level × Real output

800 × 8 = 2 × Real ouput

Real output = 3200

b. the nominal output = Price level × Real output

the nominal output = 2 × 3200 = 6400

c. the rise in money supply = 800 × 20% = 160

brand-new money supply = 800 +160 = 960

Money supply × Velocity = Price level × Real output

960 × 8 = 2 × Real ouput

Real output = 3840

The real output increases through a rise in 20% money supply.


6 0
9 months ago

Government policies that increase the permanent economic development price by a small amount bring about ______ in average living standa
Flauer <41>

brickandmortarphilly.com:

Great increase

Explanation:

Government policies that boost the permanent financial growth which rises GDP and per capita earnings.

I hope my brickandmortarphilly.com helps you


4 0
8 months ago

ike started a calendar-year organization on September first of this year by paying 12 months of rent on his shop at $650 per month. Wh
frosja888 <35>

brickandmortarphilly.com:

$7800 under the cash approach and also $2600 under the accrual method

Explanation:

Calculation to recognize the maximum amount of rent that Mike deserve to deduct this year under each type of audit method

UNDER THE CASH METHOD

Cash method=$650*12

Cash method=$7800

UNDER THE ACCRUAL METHOD

Accrual strategy =4 months*650

Accrual technique =$2600

(September 1st to December 31st =4 months)

Because of this the maximum amount of rent that Mike can deduct this year under each type of bookkeeping strategy is :$7800 under the cash technique and also $2600 under the accrual method


8 0
7 months ago

What is one difference between fixed-price mortgperiods and also variable-price mortgages?
satela <25.4K>
The correct brickandmortarphilly.com must be B. The interemainder rate may change depending upon the condition of the economy.Fixed-price mortgeras store the exact same prices as they were claimed at the moment of the contract signing, which have the right to either be great for the person or the financial institution relying on the economic situation fluctuations. Variable-price mortgperiods adjust based upon the economic climate which indicates that the problems are always kept to a details traditional.
6 0
1 year ago

Mortar Corporation acquired 80 percent of Granite Corporation"s voting widespread stock on January 1, 20X7. On December 31, 20X8, Mo
Varvara68 <4.7K>

brickandmortarphilly.com:

Following are the solution to this question:

Explanation:

In point a:

Its purchase of assets by a subsidiary to store does not influence the gathered depreciation accounts of the balance sheet as we will certainly execute the requiwebsite removal of intraagency transactions, while consolidating the two, collected deflation will certainly be raised by $135,000

Asset costs = 400,000

10 Days of Existence

Ybeforehand

*

In 4 years (2005 to 2008) - $160,000 would"ve been a value concerning.

The collected loss was decreased by $160,000 once this was marketed.

In the year 2009,

*
are paid for the depletion of Mortar.

The depletion excess

*
is to end up being removed
*
.

Tax due should be rerelocated from 160,000 fewer excess depreciation

*
, i.e. 135,000 once consolidating.

See more: Year One Pass Worth It?: The Division 2 Year 1 Pass Worth It

In suggest b:

Planet depreciation = 33,000/5.5/2 (Earth price /2) = 3000 Planet depreciation.

Sky would"ve had bee = 36 000/8/2 = 2,250 Half a year of deterioration

The crediting and enhancing of depletion expenses for consolidating entries eliminates the added depreciation of $750 (3,000-2,250).