The discovery of natural gas in the American Midwest should lead to an <u>increase</u> in the price of land because of an <u>increase in </u><u>demand</u> for the land.
The law of demand and supply explains how demand and supply are related to each other and how that relationship affects the price of goods and services. As the law explains that when demand for a product increases, and when supply is limited, so in this situation prices tend to rise.
Here, by the discovery of natural gas in the American Midwest, the prices of the land increased, this happened because of an increase in demand for the land. So when demand increased the price also increased.
Hence, the relationship between demand and supply is it important.
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Answer:
2,000 loss on redemption
Explanation:
the company will recognzie considering the current value of the bonds, thus the carrying value:
as the face value is lower than carrying value there is a discoutn for the difference: 104,000 - 98,000 = 6,000
When we compare the cash outlay with the carrying value we sovle for the redemption result:
98,000 bonds are paid at 100,000 therefore 2,000 loss
bonds payable 104,000 debit
loss on redemption 2,000 debit
discount on BP 6,000 credit
cash 100,000 credit
Answer:
Overhead Rate based on:
Direct labor hours: $12.5 per labor hour
Direct labor expense: 50% of labor cost e.g. $0.5 for every dollar of labor cost
Machine hours: $7.5 per machine hour
Explanation:
Overhead rate is calculated by dividing the total estimated manufacturing overhead to the relevant activity base selected e.g. machine hours, labor hours, labor cost etc.
Overhead rates are calculated for different bases are as follows:
Direct labor hours: $750,000 / 60,000 = $12.5 per hour
Direct labor Expense: $750,000 / 1,500,00 = 50% ($0.5 for every dollar cost of direct labor)
Machine hours: $750,000 / 100,000 = $7.5 per machine hour.
Answer:
strategic initiatives
Explanation:
According to my research on different business strategies, I can say that based on the information provided within the question these activities would most likely be categorized as an organizations strategic initiatives. This term refers to the means through which a vision is translated into practice. Which in this situation the vision/goal is to increase the firms value and they are doing this by donating to various causes in an attempt to become more socially accepted.
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