Practice Exercise 01 Pina Colada Corp. had the following transactions. 1. Sold land (cost $8,480) for $10,600. 2. Issued common stock at par for $22,600. 3. Recorded depreciation on buildings for $16,600. 4. Paid salaries of $6,800. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $10,000. 6. Sold equipment (cost $10,100, accumulated depreciation $7,070) for $1,212. (a) For each transaction above, prepare the journal entry

What is free trade? a. trade that is not subject to taxes or fees b. trade that governments do not interfere with c. trade with a high level of government regulation d. trade between states in the u. s. b

Which of the following entries would be made to record the requisition of $12,000 of direct materials and $6,900 of indirect materials? (assume that indirect materials are included in raw materials inventory.) a. manufacturing overhead 18,900 raw materials inventory 18,900 b. wip inventory 12,000 manufacturing overhead 6,900 raw materials inventory 18,900 c. raw materials inventory 18,900 wip inventory 18,900 d. wip inventory 18,900 raw materials inventory 18,900

Crowding out is a phenomenon focused upon most by the macroeconomists of whereby a government deficit interest rates, which in turn private investment spending. this group also believed that fiscal policy is the only thing that can lower natural unemployment. is just as effective in countering recessions as monetary policy. can be used most of the time, but monetary policy becomes a better option when velocity is fluctuating. should be used only if the central bank follows a monetary policy rule. faces problematic lags in propagating changes throughout the economy.