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3 years ago

What determines the value of an item?

1 answer:

galina1969 [7]3 years ago

7 0

The value of item is determined by its utility to the person who is purchasing it. If an item has high utility, then consumers are willing to pay more and will value the product more. If an item has low utility, it will not be very valuable to the person. People value items differently. the old saying that one's man's trash is another's treasure holds true here.

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Indentures usually bound indentured servants for periods of from five to seven years. question 3 options:

OLEGan [10]

Hey There!

Here is your answer:

Your answer is: False!

Indentured servants are slaves that are working to pay off debt. Which means indentured servants can work more than 7 years you pay off debt for whatever they own to the person!

Your answer is False!

Hope this helps!

3 0

4 years ago

Assuming bourne reported $50,000 of nonrecaptured net §1231 losses during years 1–5, what amount of bourne's net §1231 gain for

Novosadov [1.4K]

<span>The Menendez family has a net income of $4,500. The chart shows their cost-of-living percentages. How much do they spend on transportation?</span>

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3 years ago

At each calendar year-end, Mazie Supply Co. uses the percent of accounts receivable method to estimate bad debts. On December 31

bezimeni [28]

Answer and Explanation:

The journal entries are shown below:

a. Bad Debt Expense ($135,500 × 5% - $2,304) Dr. $4,471

To Allowance for Doubtful Accounts Cr. $4,471

(Being the bad debt expense is recorded)

For recording this we debited the bad debt expense as it increased the expense and credited the allowance for doubtful debts as it decreased the value of the assets

b. Bad Debt Expense ($135,500 × 5% + $678) Dr. $7,453

To Allowance for Doubtful Accounts Cr. $7,453

(Being the bad debt expense is recorded)

For recording this we debited the bad debt expense as it increased the expense and credited the allowance for doubtful debts as it decreased the value of the assets

8 0

3 years ago

Start-up costs do NOT include:

Aleonysh [2.5K]

Answer C bc process of elimination

7 0

3 years ago

Assume that IBM leased equipment that was carried at a cost of $92,000 to Carla Vista Company. The term of the lease is 6 years

borishaifa [10]

Answer:

(To record the lease)

Lease Receivable -------- $92,000 (Debit)

Equipment -------- $18,427 (Credit)

(To record the lease first payment)

Cash -------- $92,000 (Debit)

Lease Receivable -------- $18,427 (Credit)

Explanation:

Given:

Lease Amount (Present Value) = $92,000

Rental Payment = $18,427

Term of Lease = 6 years

Equipment Useful Life = 6 years

Implicit Interest Rate = 8%

To prepare IBM's December 31, 2020, we'll make use of the following entries.

To record the lease itself:

1. Lease Receivable (Debit)

2. Equipment (Credit)

To record the lease first payment:

3. Cash (Debit)

4. Lease Receivable (Credit)

Only the first lease payment is considered because the commencement date of the lease is December 31, 2019; Between December 31, 2020 and December 31, 2019, only one payment (i.e. the first payment) is expected to have been recorded.

The recorded entry is as follows;

(To record the lease)

Lease Receivable -------- $92,000 (Debit)

Equipment -------- $18,427 (Credit)

(To record the lease first payment)

Cash -------- $92,000 (Debit)

Lease Receivable -------- $18,427 (Credit)

3 0

3 years ago