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1 year ago

Expenses retained earnings; therefore, to increase any expense, one would the expense account.

Business

1 answer:

Liula [17]1 year ago

6 0

Expenses decreases retained earnings; therefore, to increase any expense, one would debit the expense account

What does retained earnings mean?

Retained earnings are profits retained in the business for reinvestment and for expansion purposes, in essence, expenses would reduce the retained earnings, the higher the expenses, the lesser the retained earnings become.

From a double entry point of view, an increase in expenses would be debited to expense account and a decrease is credited instead.

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Store A uses the newsvendor model to manage its inventory. Demand for its product is normally distributed with a mean of 500 and

Llana [10]

Answer:

maximum profit = $7500

so correct option is c $7500

Explanation:

given data

mean = 500

standard deviation = 300

cost = $10

price = $25

Inventory salvaged = $5

to find out

What is its maximum profit

solution

we get here maximum profit that is express as

maximum profit = mean × ( price - cost ) ..................................1

put here value in equation 1 we get maximum profit

maximum profit = mean × ( price - cost )

maximum profit = 500 × ( $25 - $10 )

maximum profit = 500 × $15

maximum profit = $7500

so correct option is c $7500

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Answer:

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3 years ago

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Answer:

One thing to clear ab initio is that equilibrium quantity and price are achieved when the demand and supply curves intersect at a point. Therefore, at equilibrium, the demand and supply in quantity are equal.

a) If a technological improvement reduces the cost of product, the equilibrium price will reduce and equilibrium quantity will be equal to the quantity demanded and supplied.

b) If there is a reduction in the number of sellers, the equilibrium price will increase and the equilibrium quantity will be equal to the quantity demanded and supplied.

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Explanation:

a) The market is in equilibrium when the supply and demand curves intersect, meaning that the quantity demanded and quantity supplied are equal. The price and quantity at which this intersection occurs are called the equilibrium price and equilibrium quantity respectively. In economics, when quantity supplied equals quantity demanded, an equilibrium situation is achieved, and it is represented by this equation: Qs = Qd; where Qs is quantity supplied and Qd is quantity demanded.

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d) Sales tax increases the price of goods and services, and equilibrium will be achieved when there consumers demand the product with increased price and sellers are willing to produce and sell at such a price.

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3 years ago

Expenses ______ retained earnings; therefore, to increase any expense, one would ______ the expense account.

Expenses retained earnings; therefore, to increase any expense, one would the expense account.