Answer: B) Keep bidding until all other bidders quit, regardless of your reservation price.
Explanation: Familiar to English auctions, the bidders are aware of the prices of items on sale and the numbers of other bidders. This price is known as the reserve or reservation price which is the limit on the price of the item on sale set by the seller (that is the lowest price the seller is willing to sell the item). The bids start at a low price and keeps coming in until there are no more bids irregardless of the reservation price set. It probably depends on how much you value the item on sale and are willing to pay for it. Not necessarily on the reservation price.
Answer:
Ronald basketball star and Rawlings engaged in investment spending.
Rupert money buckets and Russia engaged in investing in financial assets
Rhonda moviestar invested in physical assets.
Explanation:
Each investments by these entities have been grouped under 1, 2 and 3.
1. Investment Spending
- Ronald Basketballstar spends $10 million to build a new mansion with a view of the Pacific Ocean
- Rawlings builds a new plant to make catcher’s mitts
2. Investing in Financial Assets
- Rupert Moneybuckets buys 100 shares of existing Coca-Cola stock
- Russia buys $100 million in U.S. government bonds
3. Investing in Physical Assets
- Rhonda Moviestar spends $10 million to buy a mansion built in the 1970s.
Answer:
a. $265,300
b. $449,600
Explanation:
Product costs are all the costs incurred in directly manufacturing a product (direct labor and direct materials), while period costs are indirect costs and include overhead, S&A expenses, etc. Period costs occurrence is directly related to the passage of time, e.g. equipment will depreciate whether it is used or not.
product costs:
- Direct labor $93,400
- Direct materials $171,900
-
total = $265,300
period costs:
- Marketing salaries $54,500
- Property taxes, factory $12,500
- Administrative travel $103,400
- Sales commissions $53,800
- Indirect labor $43,700
- Advertising $140,300
- Depreciation of production equipment $41,400
- total = $449,600
Answer:
Corrected cash balance =
Ending balance = $50,000
Deposit in transit = + $6,000
NSF Checks = - $1,000
Outstanding checks <u>= - $3,000</u>
Corrected cash balance = $52,000
Explanation:
To make Adjustments to the cash balance, follow these steps;
- Ending Balance from Bank statement
- Add Deposits in Transit
- Deduct NSF checks
- Deduct Outstanding checks