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1 year ago

If the price of bananas increases from $0.75 a pound to $1.00 per pound, in the market for bananas this will cause:______.

1 answer:

7 0

Banana prices will move upward (to the left) along the demand curve if they rise from $0.75 per pound to $1.00 per pound in the market.

The demand curve is a graphical depiction of the connection between the cost of a commodity or service and the amount demanded over a specific time period. A common representation will have the price on the left-hand vertical axis and the amount needed on the right-hand horizontal axis.

The law of demand states that, when all other factors are equal, the quantity demanded for a given good will decrease as its price rises as shown by the demand curve moving from left to right.

Keep in mind that this formulation suggests that quantity is the dependent variable and price the independent variable. The independent variable often appears on the horizontal axis, or x-axis, although economics is an demand curve.

Learn more about demand curve here

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Ramos Inc. has total assets of $1,000 and total liabilities of $450 on December 31, 20Y6. Assume that assets increased by $130 a

sukhopar [10]

Answer:

The owner's equity be as of December 31, 20Y7 is $705

Explanation:

In this question, we apply the accounting equation which is given below

Total assets = Total liabilities + shareholder's equity

The question has said that the liabilities are decreased and the assets are increased.

So, the new asset is = total assets + increased amount

= $1,000 + $130

= $1,130

And, So, the new liability is = total liabilities - decreased amount

= $450 - $25

= $425

So, the shareholder equity would be equal to

= $1,130 - $425

= $705

Hence, the owner's equity be as of December 31, 20Y7 is $705

5 0

3 years ago

After you record your business transactions what is the next step in the process of turning this data into useful information?

hoa [83]

I think the answer is called enriching but i might be wrong.

4 0

3 years ago

On December 31, 2022, Monty Company prepared an income statement and balance sheet and failed to take into account three adjusti

irga5000 [103]

Answer:

Salaries and Wages are owed so they are now liabilities. They are also expenses and will reduce the Net Income.

Rent Revenue was in advance for 2 months meaning one of those months will be December which is in the current period so;

= 7,520/2

= $3,760 will be added to net income for the year

The same amount will be removed from Liabilities as the revenue has now been recognized.

Depreciation reduces the value of Fixed assets so will be deducted from Assets.

It is also an expense so it will reduce Net Income.

Whatever happens to Net Income will happen to Stockholders' equity as well because Net Income is an Equity account.

5 0

2 years ago

Moving from one point to another on a production possibilities frontier implies A. increasing the production of both goods. B. d

AleksAgata [21]

Answer:

Explanation:

The production possibilities curve illustrate the tradeoff facing an economy producing two goods. The production possibilities frontier shows all the possible combinations of the two products using all the available resources.

If all the available resources are being used, increasing the production of one of the goods means decreasing the production of the other good.

All points in or inside the frontier are attainable.

8 0

3 years ago

At the beginning of the year, Glaser Company estimated the following: Assembly Department Testing Department Total Overhead $702

Arte-miy333 [17]

Answer:

Assebly rate: $ 9.12 per labor hour

Testing rate: $11.43 per machine hour

Explanation:

Assembly Department Testing Department Total

$702,000 $786,240 $1,488,240

Direct labor hours 77,000 95,480 172,480

Machine hours 95,500 68,760 164,260

$\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate$

Assembly rate:

702,000 / 77,000 = 9,11688

Testing rate

786,240 / 68,760 = 11,4347

4 0

3 years ago