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Accounting Expert Answers & Study Resources : Page 191

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141) M & D Company has numerous employees who are paid on a monthly basis. Payroll information for August of the current year is given below. Employee compensation$135,000 Union dues 1,450 Charitable contributions875 Employee CPP contributions4,320 Employee EI contributions 2,336 Employee income tax withheld20,250 Prepare the journal entries to record the August payroll and the payroll benefits.

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  • 141) M & D Company has numerous employees who paid
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Match the following.   A) liability B) interest payable C) net pay D) employees' income tax payable E) Canada Pension Plan contributions F) current liability G) Workers' Compensation premiums H) contingent liability I) deductions J) gross pay K) Operating line of credit L) Employment Insurance contributions 115) A debt due to be paid within one year or one operating cycle, if the cycle is.

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  • Match the following.   A) liability B) interest payable C) net pay D) employees' income
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76) All of the following are estimated liabilities except: A) corporate income tax payable B) vacation pay payable C) employee income tax payable D) warranty payable 77) Reporting a current liability as long term: A) overstates working capital B) understates the current ratio C) has no effect on the acid-test ratio D) understates working capital 78) All of the following.

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  • 76) All of the following estimated liabilities except: A) corporate income
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25) Explain how the circular flow diagram illustrates that the total value of spending on goods and services in an economy is equal to the total value of income in that economy. Table 2.2   20112012                                                  QuantityPriceQuantityPrice Oranges 30 $0.30   40 $0.50 Egg Rolls 60   1.10   75   1.30 Whistles 50   2.00   50   2.25 Table 2.2 gives quantities and prices.

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  • 25) Explain how the circular flow diagram illustrates that the
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11) By the 2000s, an important change in the mortgage market had occurred when ________ became significant participants in the secondary market for mortgages by buying, bundling, and reselling mortgages as mortgage-backed securities. A) commercial banks B) investment banks C) financial markets D) foreign governments 12) When the housing bubble began to burst in 2006,.

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  • 11) By the 2000s, an important change in the mortgage
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1.1   What Macroeconomics Is About 1) In the short run, macroeconomic analysis focuses on ________, while in the long run, the focus is on ________. A) fiscal policy; monetary policy B) short-run economic growth; population demographics C) unemployment; inflation D) the business cycle; long-run economic growth 2) ________ refers to alternating periods of economic expansion and.

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  • 1.1   What Macroeconomics Is About 1) In the short run, macroeconomic
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21) The actions that the Federal Reserve takes to manage the money supply and interest rates to pursue macroeconomic policy objectives refer to A) fiscal policy. B) monetary policy. C) quantitative analysis. D) Federal Reserve transparency. 22) The actions that the Federal Reserve takes to ________ to pursue macroeconomic policy objectives refer to monetary policy. A).

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  • 21) The actions that the Federal Reserve takes to manage
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Table 2.6   20102011 Nominal GDP $350 million $390 million Real GDP $325 million $375 million 29) Refer to Table 2.6. What is the inflation rate for 2011? Table 2.7   Gross domestic product $475,000 Transfer payments received by households        1,120 Retained earnings of corporations      21,400 Consumption of fixed capital      16,975 Personal tax payments            880 Interest on government bonds received by households            205 30) Refer to Table 2.7. Use.

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  • Table 2.6   20102011 Nominal GDP $350 million $390 million
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