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10 months ago

Which point of the business cycle represents a peak? b c d e

Business

1 answer:

Nina [5.8K]10 months ago

5 0

The correct answer is A. Consumption reaches its highest point, and then supply begins to fall.

Various economic indicators reach their highest point in the peak month, which is followed by a sharp fall in economic activity. Similar events occur when economic activity reaches a low point and then gradually picks up again. The final month before numerous important economic indicators, such as employment and new housing starts, start to decline, is referred to be the cycle's peak. Real GDP spending is now at its highest position in the economy. Approximately or roughly at the same time as the economy, coincident indicators move or change (i.e. these indicators rise as aggregate economic activity rises and fall as aggregate economic activity falls). The economy enters the peak phase when it reaches its highest level of output, which marks the end of the growth.

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An accounting professor is considering opening his own consulting firm. To do so, she will have to quit her current job, that pa

qwelly [4]

Answer:

The answer is "$100,000"

Explanation:

Please find the complete question in the attached file.

Given value:

$\text{Employees salary}= \$ 80,000\\\\\text{Insurance}= \$ 6,000\\\\\text{Utility cost}=\$ 5,000\\\\\text{Supplies}= \$ 9,000$

$\text{Annual Explicit costs}= ?$

Formula:

$\text{Annual Explicit costs}= \bold{\text{Employees salary}+ \text{Insurance}+ \text{Utility cost}+ \text{Supplies}}$

$= \$ 80,000 + \$ 6,000 + \$ 5,000 + \$ 9,000\\\\= \$ 80,000 + \$ 20,000\\\\= \$ 100,000$

8 0

2 years ago

Gomez runs a small pottery firm. He hires one helper at $13,000 per year, pays annual rent of $5,500 for his shop, and spends $2

alisha [4.7K]

Answer:

(a) $35,000

(b) $8,000

Explanation:

(a) Accounting profit:

= Total revenue - Explicit cost

= $75,000 - (wages + Annual rent + Material cost)

= $75,000 - ($13,000 + $5,500 + $21,500)

= $75,000 - $40,000

= $35,000

(b) Economic Profit:

= Total revenue - Explicit costs - Implicit costs

= $75,000 - (wages + Annual rent + Material cost) - (Income from investment + Earnings as a potter + Worth of entrepreneurial talents)

= $75,000 - ($13,000 + $5,500 + $21,500) - ($5,500 + $19,000 + $2,500)

= $75,000 - $40,000 - $27,000

= $8,000

8 0

3 years ago

The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020: Beginni

melamori03 [73]

Answer:

City of Buffalo Falls

a. Journal Entries:

Beginning balances:

Jan.1, 2020 :

Description Debit Credit

Cash $93,000

Taxes Receivable $189,500

Accounts Payable $52,250

Fund Balance $230,250

To record opening balances of the General Fund.

Transactions during the year:

Description Debit Credit

Taxes Receivable $1,230,000

Estimated Revenue $1,230,000

To record the estimated revenue for the year.

General Government $1,227,400

Accounts Payable $1,227,400

To record the estimated appropriations for the year.

Property taxes receivable $915,000

Other revenue receivable $315,000

Estimated revenue $1,230,000

Cash Account $1,182,500

Property taxes receivable $885,000

Other revenue receivable $297,500

To record the cash receipts.

Contracts $95,250

Accounts Payable $95,250

To record contracts for services.

Debit General Government $963,500

Credit Accounts Payable $963,500

To record the other expenditures.

Debit Accounts Payable $1,092,500

Credit Cash Account $1,092,500

To record payment on account.

b. Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund:

Estimated Revenue $1,230,000

less Expenditure:

Contracts 95,250

Other expenditures 963,500

Change in fund $171,250

Fund balance b/f 230,250

Fund balance c/f $401,500

c. Balance Sheet for the General Fund:

Cash $183,000

Taxes Receivable 237,000

Total assets $420,000

Accounts Payable $18,750

Fund balance 401,500

Total liabilities + Fund $420,250

Explanation:

a) Cash Account:

Beginning balance $93,000

Property taxes 885,000

Other revenue 297,500

less Accounts payable 1,092,500

Ending balance $183,000

b) Taxes Receivable

Beginning balance $189,500

Estimated Revenue 1,230,000

less Receipts:

Property taxes 885,000

Other revenue 297,500

Ending balance $237,000

c) Accounts Payable

Beginning balance $52,500

Other expenditure 963,500

Contracts 95,250

Less payments 1,092,500

Ending balance $18,750

4 0

3 years ago

Samantha is the store manager of a sporting goods store. A customer came in to return a fishing reel because the reel did not wo

Arturiano [62]

The type of account Samantha should recod the transaction is the contra account.

8 0

3 years ago

Which one of the following parties has ultimate control of a corporation?

mariarad [96]

E) Shareholders

Good luck!!!

7 0

3 years ago