A Chinese-owned ice-cream parlour located in the U.S. has the following accounting record related to its...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A Chinese-owned ice-cream parlour located in the U.S. has the following accounting record related to its business during 2019: Total sales revenue Total costs include the following items: Wages paid to U.S. workers Wages paid to Chinese workers Interest paid to a U.S. bank Rent paid to a U.S. landlord Costs on raw materials imported from Australia Total costs $500 $300 $100 $600 $500 $2,500 $2,000 (i) What was the value of U.S. GDP contributed by this firm using the expenditure approach? Which component(s) of the expenditure approach was involved? (ii) What was the value of U.S. GDP contributed by this firm using the income approach? Which component(s) of the income approach was involved? (iii) What was the value of U.S. GDP contributed by this firm using the output approach? (iv) What was the value of this firm's contribution to the Chinese GNP? If a Japanese tourist drinks German beer in a hotel in New York City, how will the U.S. GDP be affected? Give your answer using both the expenditure approach and the output approach. A Chinese-owned ice-cream parlour located in the U.S. has the following accounting record related to its business during 2019: Total sales revenue Total costs include the following items: Wages paid to U.S. workers Wages paid to Chinese workers Interest paid to a U.S. bank Rent paid to a U.S. landlord Costs on raw materials imported from Australia Total costs $500 $300 $100 $600 $500 $2,500 $2,000 (i) What was the value of U.S. GDP contributed by this firm using the expenditure approach? Which component(s) of the expenditure approach was involved? (ii) What was the value of U.S. GDP contributed by this firm using the income approach? Which component(s) of the income approach was involved? (iii) What was the value of U.S. GDP contributed by this firm using the output approach? (iv) What was the value of this firm's contribution to the Chinese GNP? If a Japanese tourist drinks German beer in a hotel in New York City, how will the U.S. GDP be affected? Give your answer using both the expenditure approach and the output approach.
Expert Answer:
Answer rating: 100% (QA)
i The value of US GDP contributed by this firm using the expenditure approach can be calculated as follows GDP C I G NX whereC consumption spendingI investment spendingG government spendingNX net expo... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
What was the value of one euro (100 euro cents) in terms of Canadian dollars in June 2010 and June 2011? Did the euro appreciate or depreciate against the Canadian dollar over the year June 2010 to...
-
What was the value of the U.S. dollar in terms of Canadian dollars in June 2010 and June 2011? Did the U.S. dollar appreciate or depreciate against the Canadian dollar over the year June 2010 to June...
-
A). For Walmart 2018, what was the value of its assets, liabilities, stockholders equity, and net income in numbers and then compare that to the previous years number (list it) and make comments on...
-
As manager of a local pizza parlor, you want to develop a balanced scorecard so you can more effectively monitor the restaurants performance. Required a. Propose at least two goals for each...
-
Solve the following LP problem graphically by enumerating the corner points. MAX: 3X1 + 4X2 Subject to: X1 12 X2 10 4X1 + 6X2 72 X1, X2 0
-
Given that show that Hence, evaluate 1, = sinh" xdx,
-
Solve Exercise 16 in Chapter 14 assuming that the annual storage cost of cut lumber is \(5 \%\) of its value. Data from Exercises 16 chapter 14 You are considering an investment in a tree farm. Trees...
-
Tiago makes three models of camera lens. Its product mix and contribution margin per unit follow: Required: 1. Determine the weighted-average contribution margin per unit. 2. Determine the number of...
-
For 2016, Theta Corporation had net income of $2,250,000. At the beginning of the year, there were 800,000 shares outstanding, and halfway through the year the company issued 130,000 new shares. If...
-
You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the...
-
The flash weighs about 8 8 kg . He is running at 2 0 0 m / s to the nearest pizza shop. Unfortunately, Booster Gold teleports out of nowhere and they collide but he is able to hold Booster in his...
-
Task2: Gamble Game For this task, your objective is to simulate a gamble game in which the player starts with a certain amount of money (stake) and aims to reach a specific target amount (goal) by...
-
2. Using the distributed database described by the diagram below, specify the minimum types of operations the database must support to perform the following tasks. These operations include remote...
-
int unordered Search (const T a[], unsigned n, const T& x) // Look for x within an unsorted array a, containing n items. // Return the position where found, or -1 if not found. { } int i; = for (i if...
-
1. Open the file IPv6_Troubleshooting.pkt. Try pinging each computer. (PC1 PC2, PC1 PC3) PC-PT PC1 PC-PT PC2 Switch-PT S1 Switch-PT S2 2. What do you notice is wrong with the topology? GO/0. GO/1...
-
Phase 1: Construct a new website for your project title using the following technologies: HTML, CSS, JavaScript and Adobe Animate(Flash). Your website must include the following Minimum a home page...
-
Analyze a real AUSTRALIAN sustainable companys existing/ potential internationalization entry strategy into an international market(s). Research and analyze the firms existing internationalisation...
-
Explain the differences and similarities between fringe benefits and salary as forms of compensation.
-
In 2012, Gale and Cathy Alexander hosted an exchange student, Axel Muller, for 9 months. Axel was part of International Student Exchange Programs (a qualified organization). Axel attended tenth grade...
-
Jason and Mary are married taxpayers in 2012. They are both under age 65 and in good health. For this tax year, they have a total of $41,000 in wages and $500 in interest income. Jason and Mary's...
-
Ray and Maria Gomez have been married 3 years. They live at 1610 Quince Ave., McAllen, TX 78701. Ray works for Palm Oil Corporation and Maria works for the City of McAllen. Maria's Social Security...
-
Why should projects be linked to the organisation's Strategic Plan?
-
What is the BCG matrix and how is it used?
-
Explain the role projects play in the delivery of an organisation's strategy
Study smarter with the SolutionInn App