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1 year ago

What are the three factors of producrion and what role does each factor play in the production of goods and services

Business

1 answer:

Delvig [45]1 year ago

8 0

Answer:

The productive factors are commonly classified into three groups: land, labour, and capital. The first represents resources whose supply is low in relation to demand and cannot be increased as the result of production. The income derived from the ownership of this factor is known as economic rent.

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The balance sheet of Hidden Valley Farms reports total assets of $450,000 and $550,000 at the beginning and end of the year, res

hoa [83]

Answer:

Hidden Valley's Asset Turnover = 1.6

Explanation:

Average Total Asset = (Total Assets at the beginning of the year + Total Assets at the end of the year)/2

Average Total Asset = (450,000+550,000)/2

Average Total Asset = 1,000,0000/2 = 500,000

Asset Turnover = Net Sales / Average Total Asset

Asset Turnover = 800,000/500,000

Asset Turnover = 8/5

Asset Turnover = 1.6

7 0

3 years ago

Read 2 more answers

kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. after the cereal begins to a

Dafna11 [192]

The fact that Kellog is increases its promotion expenditure to counteract competitive responses means that Kellogg's is in the maturity stage of the product life cycle. The maturity stage us the third stage of the product life cycle, and comes after the Introduction and Growth stages.
In this stage the companies are focused on maintaining their market share in the face of a number of different challenges.

7 0

3 years ago

When merchandise purchased on account is returned under the perpetual inventory system, the buyer would debit a. Inventory b. Pu

Keith_Richards [23]

Answer:

Accounts payable

Explanation:

In accounting, the term accounts payable refers to the money that is owed by a business to its suppliers, in other words, it refers to the business' short-term debts.

When merchandise is purchased on account and it is returned under the perpetual inventory system, the buyer would then debit accounts payable since it is money that the company would owe to the buyer.

4 0

3 years ago

Speedy Package is California's largest express transportation company. In addition to the largest fleet of all-cargo aircraft in

tia_tia [17]

Answer:

Date General Journal Debit Credit

Cash $15,400

Accumulated Depreciation $39,600

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $15,400 cash)

Cash $16,500

Accumulated Depreciation $39,600

Gain on sale $1,100

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $16,500 cash)

Cash $12,700

Accumulated Depreciation $39,600

Loss on sale $2,700

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $12,700 cash)

4 0

2 years ago

Uniform Supply accepted a $5,200, 90-day, 12% note from Tracy Janitorial on October 17. If the note is dishonored, but Uniform S

Naya [18.7K]

Answer:

The journal entry is shown below:

Explanation:

The journal entry is as follows

On January 15

Accounts receivable $5,356

To Note receivable $5,200

To Interest revenue $26

To Interest receivable $130

(Being cash received in respect of note receivable, interest accrual is recorded)

The computation of interest receivable is shown below:

= Principal × rate of interest × number of days ÷ (total number of days in a year)

= $5,200 × 12% × (75 days ÷ 360 days)

= $130

The 75 days is counted from October 17 to December 31

And, the total amount is

= Principal × rate of interest × number of days ÷ (total number of days in a year)

= $5,200 × 12% × (90 days ÷ 360 days)

= $156

8 0

2 years ago