In an economy that only produces bread, they produce 300 loaves and the price is $4 per loaf in year1. In year 2 the quantity increases to 400 and the price is $5. In year 3, the quantity rises to 500 and the price is $6. Assuming that year 1 is the base year, calculate: Nominal GDP for each year. Real GDP for each year. GDP deflator for each year. Percentage growth rate of real GDP for years 2 and 3.

What common business mistake can cost you everything

The manda panda company uses the allowance method to account for bad debts. at the beginning of 2018, the allowance account had a credit balance of $92,400. credit sales for 2018 totaled $3,190,000 and the year-end accounts receivable balance was $507,500. during this year, $88,500 in receivables were determined to be uncollectible. manda panda anticipates that 3% of all credit sales will ultimately become uncollectible. the fiscal year ends on december 31. required: 1. does this situation describe a loss contingency? 2. what is the bad debt expense that manda panda should report in its 2018 income statement? 3. prepare the appropriate journal entry to record the contingency. 4. complete the table below to calculate the net realizable value manda panda should report in its 2018 balance sheet?

Which of the following best describes how manufacturing creates wealth? increases the number of affluent americans living in the united states and abroad drives the stock market, thus creating wealth for investors provides many low-wage jobs, driving down the unemployment rate increases the value of raw materials by turning them into something people and companies will purchase