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tigry1 [53]
2 years ago
14

A need is something required. For example, food is a need. However, eating at a restaurant is not a need. Gas to get to work is

a need. However, gas to go on a vacation is not a need. List items you didn't need. How much did you spend on these items?
Business
1 answer:
Nonamiya [84]2 years ago
5 0

The amount spent on these items is based on preference and the availability of resources available to us. It should be noted that you'll have to spend on a need more than a want due to the limited resources that are available to us.

<h3>What is a consumer's need?</h3>

In economics, a need refers to anything individuals require to exist. It is considered to be necessary and important for the functioning of life. Examples include:

  • Food,
  • Water, and
  • Shelter.

However, a want is anything that is desired. A want is anything that will enhance your living experience and level of happiness. In economic terms, it is described as an individual's insatiable desire to own items or services that provide fulfillment.

From the information given:

Eating at a restaurant, or gas to go on vacation is not a necessity, so it may be referred to as something you want.

The amount spent on these given items is based on preference and the availability of financial resources available to us.

Learn more about human needs here:

brainly.com/question/22395260

#SPJ1

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A company has the following asset account balances: Buildings and equipment $9,200,000 Accumulated depreciation 1,200,000 Patent
Elis [28]

Answer:

$14,000,000

Explanation:

To be reported under Property, Plant and Equipment:

= (Buildings and equipment - Accumulated depreciation) + Land Improvements + Land

= ($9,200,000 - $1,200,000) + $1,000,000 + 5,000,000

= $8,000,000 + $1,000,000 + 5,000,000

= $14,000,000

Note:

(1) Intangible Assets (Patents) will be reported after Plant, Property and Equipment. These are not a part of plant, Property and Equipment.

(2) There is no information about the useful life of the Land, so the value of land improvements will be included in the property, plant, & equipment section.

7 0
2 years ago
A lender determines that a homebuyer can afford to borrow $220,000 on a mortgage loan. The lender requires an 85% loan-to-value
Dmitry [639]

Answer:

D: $259,000

Explanation:

The computation of the paying amount which borrower can pay for a property is shown below:

= Mortgage loan amount for borrow ÷  loan-to-value ratio

= $220,000 ÷ 85%

= $258,823.53

= $259,000 round off

We simply divide the mortgage loan by the loan to value ratio so that paying amount could arrive which borrower can pay for a property.

7 0
3 years ago
Company X purchased Company Y using financing as follows: $18 million from mortgages, $3 million from retained earnings, $13 mil
ASHA 777 [7]

Answer:

The debt to equity mix = 74.65% - 25.35%

Explanation:

The computation of the debt to equity mix is shown below:

Debt is

= Mortgages + Bond

= $18 + $35

= $53 million

And, the Equity is

= Retained earnings + Cash in hand

= $5 + $13

= $18 million

Now

Percentage of debt financing

= $53 ÷  ($53 + $18)

= 74.65%

And, percentage of equity financing is

= $18 ÷ ($53 + $18)

= 25.35%

And, finally

The debt to equity mix = 74.65% - 25.35%

3 0
2 years ago
On May 1, 2020, Mount Company enters into a contract to transfer a product to Eric Company on September 30, 2020. It is agreed t
sweet-ann [11.9K]

Answer:

Dr. Accounts Receivable...........25,000

Cr. Sales................................................25,000

Narration. Being sale of inventory to Eric for $25,000

Dr Cash...............25,000

Cr. Accounts Receivable....25,000

Being receipt of Cash for Sales to Eric for $25000

Explanation:

On May 1, 2020, Mount Company enters into a contract to transfer a product to Eric Company on September 30, 2020.

It is agreed that Eric will pay the full price of $25,000 in advance on June 15, 2020.

Dr. Accounts Receivable...........25,000

Cr. Sales................................................25,000

Narration. Being sale of inventory to Eric for $25,000

When Eric pays on June 15, 2020, and Mount delivers the product on September 30, 2020.

Journal Entry

Dr Cash...............25,000

Cr. Accounts Receivable....25,000

Being receipt of Cash for Sales to Eric for $25000

3 0
2 years ago
Read 2 more answers
9. Sometimes economic goals conflict with one another, therefore societies must prioritize their
GarryVolchara [31]

Answer:

the answer is true. some economic goals do conflict with each other.

6 0
3 years ago
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