Recorded the financing (capital) lease of a truck. The present value of the lease payments is $71,000; the total of the lease payments to be made is $84,000. Recorded the company’s payroll for the month. Gross pay was $8,400, net pay was $5,700, and various withholding liability accounts were credited for the difference. Issued $27,000 of bonds payable at a price of 103. Adjusted the estimated liability under a warranty program by reducing previously accrued warranty expense by $4,800. Retired $15,100 face amount of bonds payable with a carrying value of $15,000 by calling them at a redemption value of 101. Accrued estimated annual health care costs for retirees; $21,000 is expected to be paid within a year, and $161,000 is expected to be paid in more than a year.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

Can you choose anything?

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