ACCT2111-Exam#3-Chapters&10A11 The management of Academic Copy, a photocopyi com

Question

ACCT2111-Exam#3-Chapters&10A11 The management of Academic Copy, a photocopyi compiled the following data to use in preparing its budgeted balance sheet for next year . ng center located on University avenue, has Ending Balances Cash Accounts receivable Supplies Inventory Accounts payable Common stock Retained earnings .The beginning balance of retained earnings was $42,000, net income is budgeted to be $17,200, and dividends are budgeted to be $7,000. Required: Preparethe company,budgeted balance sheet. Assets Current assets: Cash* Accounts receivable Supplies inventory Total current assets Plant and equipment: Equipment Accumulated depreciation Plant and equipment, net Total assets Liabilities and Current liabilities: Accounts payable Stockholders' equity Common stock Total stockholders' equity Total liabiliies andm

Explanation / Answer

The GDP per capita = labor productivity X share of population employed

The change in the labor productivity over 53 years was

109152-47256/109152

.567 or 56% assume it will be the same over the 53 years after 2013 in 2066 it will be

109152 * 1.56= 170277.12

And GDP per capita will be 170277.12 * .364

=61980 in 2066

and
The GDP per capita in 2013 will be 170277.12 * .455= 77476

Hence the net change will be -154

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