Answer:
c. a building would be a fixed resource in the short run.
Explanation:
A fixed resource is a factor of production that doesn't vary with output. E.g. building
A variable resource is a factor of production that varies with output. If output increases, variable resources increases. E.g. labour, cheese and other wholesale food items.
Output is what is produced. E.g. the food produced by the restaurant is the output.
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Answer:
Retained earnings balance =$54,700
Explanation:
Retained earnings is the proportion of profit made by a company which is not distributed as dividend but rather re-couped to be re-invested. A payment of dividend would reduce the balance of retained earnings while further profit retained increases it.
The balance of retained earnings at the end = opening balance + profit retained for the year - dividend paid for the year
= 33,400 + 36,500 - 15,200 = $54,700
Retained earnings balance =$54,700
Answer:
$510,000.00
Explanation:
Since the historical cost principle states that business must account and record most assets at their purchase or acquisition price which means the data put into record on the balance sheet would reflect amount paid for asset.
That is why it is $510000.
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Answer:
$800
Explanation:
Pedro's tuition costs of $6,000 is a personal expense and does not qualify as a charitable contribution.
Pedro's donation to the church of $1,000 is charity, but he has to deduct the registration fee of $200 from it. Thus, his total charitable contribution is $1,000 - $200 = $800
