Answer: $135,950
Explanation:
Given the following
List price = $125,000
2% discount if payment is made within 10 days
Sales tax = $6,250
Installation charges = $2,200
Concrete slab = $5,000
Total sales = [(100 - 2)% × list price] +sales tax + installation charges + concrete slab
Total sales =( 98% × 125,000) + 6250 + 2200 + 5000
Total sales = $(122,500 + 6250 + 2200 + 5000)
Total sales = $135,950
Bank reconciliation refers to looking at your bank statement and your personal register and making sure they match up with no discrepancies. In this case, there were discrepancies, $150 worth so John had to look and see what was missing and making sure they both equaled the same amount. From the numbers given, John's bank account was reconciled $150.
Answer: consume both products at the same rate as before his inheritance.
Explanation: Seppo is a rational spender. This means that although Seppo has more money to spend on brandy and saunas, Seppo will only spend money on what Seppo needs. Seppo's inheritance will not change the amount of hours that are available in a day. Seppo will still only have 6 hours to spend, and will consume the products based on the amount of time Seppo has, instead of the extra cash Seppo can spend on these products. This means that although Seppo has more money, Seppo will still consume the same amount of products as before, as Seppo is a rational consumer who likes to weigh rational consumption choices.
Answer:
10
Explanation:
The average utility is the total utility derived from the consumption of goods and services divided by the total number of items consumed.
i.e,. total utility/items consumed
In this case, the total utility is 70, and the number of items consumed is 7.
Average utility = 70/7
=10
Answer:
Date Account Titles Debit Credit
Oct 1 Cash $16,800
Common Stock $16,800
Oct 2 No journal entry - -
Oct 3 Office Furniture $2,500
Accounts Payable $2,500
Oct 6. Accounts Receivable $3,
400
Service Revenue $3,400
Oct 27 Accounts Payable $1,100
Cash $1,100
Oct 30 Salaries Expense $2,650
Cash $2,650