Chapter 21 - 2902 Words

* Chapter 21 Study Guide Answer Key 4. How did the rapid industrialization of warfare impact the war? It generated an array of novel weapons, including submarines, tanks, airplanes, poison gas, machine guns, and barbed wire. This new military technology contributed to the staggering casualties of the war, including some 10 million deaths; perhaps twice the number wounded, crippled, or disfigured; and countless women for whom their would be no husbands or children 5. With whom did the Ottoman Empire ally itself in WWI? Germany. (p. 981) 6. When and why did the United States join the war? The United States, after initially seeking to avoid involvement in European quarrels, joined the war in 1917 when German submarines threatened American†¦show more content†¦Nor were major European countries able to purchase those goods. Germany and Austria had to make huge reparation payments and were able to do so only with extensive U.S. loans. Britain and France, which were much indebted to the U.S., depended on those reparations to repay their loans. Furthermore, Europeans generally had recovered enough to begin producing some of their own goods, and their expanding production further reduced the demand for American products. Meanwhile, a speculative stock market frenzy had driven up stock prices to an unsustainable level. When that bubble burst in late 1929, this intricately connected and fragile economic network across the Atlantic collapsed. (p. 986) 12. What rendered other societies vulnerable to changes in the world market? As much as Europe’s worldwide empires had globalized the war, so too its economic linkages globalized the Great Depression. Countries or colonies tied to exporting one or two products were especially hard-hit. Depending on a single crop or product rendered these societies vulnerable. 13. Why did the Soviet Union escape the Great Depression? The Soviet Union, a communist state whose more equal distribution of income and state-controlled economy had generated impressive growth with no unemployment in the 1930s,Show MoreRelatedChapter 213724 Words   |  15 PagesCHAPTER 21 Accounting for Leases SOLUTIONS TO BRIEF EXERCISES BRIEF EXERCISE 21-1 The lease does not meet the transfer of ownership test, the bargain purchase test, or the economic life test [(5 years à · 8 years) 75%]. However, it does pass the recovery of investment test. The present value of the minimum lease payments ($31,000 X 4.16986 = $129,266) is greater than 90% of the FV of the asset (90% X $138,000 = $124,200). Therefore, Callaway should classify the lease as a capital lease. Read MoreChapter 21 Solutions17195 Words   |  69 Pagesï » ¿CHAPTER 21 Accounting for Leases ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief   Exercises Exercises Problems Concepts for Analysis *1. Rationale for leasing. 1, 2, 4 1, 2 *2. 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