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2 years ago

Suppose Susie can own 100 turkeys or 5 peacocks. What is the opportunity cost of owning one peacock?

1 answer:

6 0

Based on the number of peacocks and turkeys that can be owned, the opportunity cost of one peacock is<u> 20 turkeys. </u>

<h3>What is opportunity cost?</h3>

Refers to the benefit that we forego when we choose an alternative over another.

In this scenario, Susie can either have 100 turkeys or 5 peacocks. The opportunity cost of a single peacock would be:

<h3>Opportunity cost of peacock </h3>

= Number of turkey / Number of peacock

= 100 / 5

= 20 turkeys

In conclusion, opportunity cost of a single peacock is 20 turkeys.

Find out more on opportunity cost at brainly.com/question/3597509.

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Ms. Benoit is a self-employed architect who earns $300,000 annual taxable income. For the past several years, her tax rate on th

svetlana [45]

Answer:

Less revenue the government collect = $30,000

Less revenue the government collect = $11,250

Less revenue the government collect = $36,250

Explanation:

A.Present revenue collection = $300,000 x 35%

Present revenue collection = $105,000

Forecast present revenue collection = $300,000 x 25%

Forecast present revenue collection = $75,000

Less revenue the government collect = $105,000 - $75,000

Less revenue the government collect = $30,000

B.New revenue collection = $375,000 x 25%

New revenue collection = $ 93,750

Less revenue the government collect = $105,000 - $93,750

Less revenue the government collect = $11,250

C.New revenue collection = $275,000 x 25%

New revenue collection = $ 68,750

Less revenue the government collect = $105,000 - $68,750

Less revenue the government collect = $36,250

7 0

3 years ago

Castle Company provides estimates for its uncollectible accounts. The allowance for uncollectible accounts had a credit balance

Leni [432]

Answer:

Dr Bad debt expense 20,030

Cr Allowance for doubtful accounts 20,030

Explanation:

first we must determine the net amount of bad debt under direct write off = $17,100 - $2,200 = $14,900

now the increase in the allowance account during 2021 = $22,410 - $17,280 = $5,130

The journal entries following allowance method:

bad debts written off:

Dr Allowance for doubtful accounts 17,100

Cr Accounts receivable 17,100

bad debts recovered:

Dr Accounts receivable 2,200

Cr Allowance for doubtful accounts 2,200

Dr Cash 2,200

Cr Accounts receivable 2,200

Adjustments following allowance method:

recording bad debt expenses (net amount of bad debt + increase in allowance for bad debt account = $14,900 + $5,130)

Dr Bad debt expense 20,030

Cr Allowance for doubtful accounts 20,030

Now we can check:

$17,280 (beginning balance) - $17,100 write offs + $2,200 recoveries + $20,030 bad debt expense = $22,410 which is the ending balance of allowance for doubtful accounts

5 0

3 years ago

What is true about the payments with closed-end credit?

denis-greek [22]

Answer:

C)They remain the same until the credit is paid off.

Explanation:

In a closed-end credit, borrower and lender agree on principal amount, interest rate and monthly payments. These features stay the same over time.

The most common types of closed-end credit are mortgages and car loans.

For example, if a person wants to buy a car on credit, they agree to pay a monthly amount, that includes both interest and principal payments, until the full amount is paid off in a specified date in the future. After the last payment, the right to ownership of the car is transferred from the borrower to the lender, closing the credit.

8 0

3 years ago

A fire destroyed a warehouse of the Goren Group, Inc., on May 4, 2021. Accounting records on that date indicated the following:

wel

Answer:

$1,040,000

Explanation:

The calculation of cost of the inventory is shown below:-

Cost of Goods available for sale = Inventory balance + Purchase to date + Freight In

= $2,000,000 + $5,900,000 + $500,000

= $8,400,000

Cost of Goods Sold = Sales to date - (Sales to date × Gross profits)

= $9,200,000 - ($9,200,000 × 20%)

= $9,200,000 - $1,840,000

= $7,360,000

Estimated loss from fire = Cost of Goods available for sale - Cost of Goods Sold

= $8,400,000 - $7,360,000

= $1,040,000

For computing the estimated loss from fire we simply applied the above formula.

3 0

3 years ago

Project managers are ultimately responsible for quality management on their projects.

vovikov84 [41]

A. true

unless you have quality control, present in bigger corperations

5 0

3 years ago