Answer:
Explanation:
To answer this question, we first need to calculate the marginal utility per dollar for doughnuts. Recall that the marginal utility per dollar for a good is the marginal utility divided by the price of the good (=MU/P). For the first doughnut we have 10 (=10/$1), the second doughnut 9(=9/$1), third 9, fourth 8, fifth 7, sixth 6, seventh 5, eighth 4, ninth 3, tenth 2 and eleventh 1. The marginal utility per dollar for every cup of coffee is 5.5 (=5.5/$1). To determine how big the budget would have to be before Omar would spend a dollar buying his first cup of coffee, we compare the marginal utility per dollar values. Omar will purchase the first doughnut before he buys a cup of coffee because the marginal utility per dollar for the doughnut is greater than the marginal utility per dollar for the cup of coffee (10>1.5). The same is true for the second through the eighth doughnut. This implies Omar will buy 8 doughnuts at the price of $1 before he buys his first cup of coffee. Therefore his budget will need to $9 before he buys his first cup of coffee, $8 on the doughnuts and $1 for the cup of coffee.
Answer: $8
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Answer:
The subsidiary reports cost of goods sold at A. $660,000.
Explanation:
Cost of goods sold is the direct cost of producing or purchasing the goods sold by a business. The formula for cost of goods sold is as follows:
Cost of goods sold = Opening inventory + Purchases - Closing inventory
The subsidiary calculates its cost of goods sold as follows.
Opening inventory $120,000
Add: Purchases $720,000
Less: Closing inventory ($180,000)
Cost of goods sold $660,000
Therefore, the correct option is A. $660,000.
Answer:
$1,500
Explanation:
Given the compounding formula 
And given an investment (P), made at 16% compounded annually (r), and an ending amount of $1,740 (A) at the end of the year (n = 1 year), the original amount invested (P) can be computed as follows.
= P = 1,740/1.16 = 1,500.
Therefore, the original investment was $1,500.
Answer:
A liability account in the balance sheet.
Explanation:
When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;
Debit Cash account
Credit Unearned/Deferred rental revenue
The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.
As such, the collection of rent in advance is A liability account in the balance sheet.
