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The following table gives government revenues and expenditures for several years for West Laurasia. Compute the deficit a the missing years. Assume that the West Laurasian government is not required to pay any interest on its debt. Instructions: Enter your answer as a whole number Year 1 Year 2 Year 3 Year 4 Revenue (millions) 5555 Spending (millions) 100 $ 115 $ 118 S 120 $ Deficit (millions) 120 $ 125 130 128 Debt (millions) 20 $ 20

The following table gives government revenues and expenditures for several years for West Laurasia. Compute the deficit a the missing years. Assume that the West Laurasian government is not required to pay any interest on its debt. Instructions: Enter your answer as a whole number Year 1 Year 2 Year 3 Year 4 Revenue (millions) 5555 Spending (millions) 100 $ 115 $ 118 S 120 $ Deficit (millions) 120 $ 125 130 128 Debt (millions) 20 $ 20

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following table gives government revenues and expenditures for several years for West Laurasia. Compute the deficit and debt for the missing years. Assume that the West Laurasian government is not required to pay any interest on its debt. Instructions: Enter your answer as a whole number Year 1 Year 2 Year 3 Year 4 Revenue (millions) S $ $ $ Spending (millions) 100 $ 115 $ 118 $ 120 $ 120 125 130 128 Deficit (millions) $ Debt (millions) 20 $ 20
Transcribed Image Text:The following table gives government revenues and expenditures for several years for West Laurasia. Compute the deficit and debt for the missing years. Assume that the West Laurasian government is not required to pay any interest on its debt. Instructions: Enter your answer as a whole number Year 1 Year 2 Year 3 Year 4 Revenue (millions) S $ $ $ Spending (millions) 100 $ 115 $ 118 $ 120 $ 120 125 130 128 Deficit (millions) $ Debt (millions) 20 $ 20
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