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1 year ago

Question 10 of 20 Which situation best describes a monopoly?

1 answer:

7 0

A monopoly expresses a market situation where one company owns all the market share and can control prices and output.

<h3> What are some instances of a monopoly?</h3>

A monopoly is a company who is the sole seller of its product, and where there are no comparable substitutes. An unregulated monopoly has market control and can influence prices. Examples: Microsoft and Windows, DeBeers and diamonds, your local crude gas company.

<h3>What forces monopoly?</h3>

Monopolies can occur when one business owns a key resource. These are typically physical resources, such as diamonds. For example, if there is only one diamond abundance in the country, the business that owns it will be able to gain a monopoly.

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The following data have been provided by Liggett Corporation: Budgeted production 7,400 units Standard machine-hours per unit 6.

abruzzese [7]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Budgeted production 7,400 units Standard machine-hours per unit 6.6 machine-hours Standard lubricants rate $ 3.50 per machine-hour

Actual production 7,600 units Actual machine-hours (total) 49,840 machine-hours Actual lubricants cost (total) $ 179,821

Manufacturing overhead spending variance= (standard rate - actual rate)* actual quantity

Manufacturing overhead spending variance= (3.5 - 3.607965)*49,840= 5,381 unfavorable

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3 years ago

Prepare the journal entries to record the following transactions for Blossom Company, which has a calendar year end and uses the

Lapatulllka [165]

Answer:

Dr. Cash $124,200

Dr. Accumulated Depreciation $118,800

Dr. Loss on Disposal $16,200

Cr. Equipment $259,200

Explanation:

Depreciation is the recording of asset expense due to its use. It is due to use of fair value of the asset after use. The expense value reduces the asset value over useful life period.

As per given data

Cost of Asset = $259,200

Useful life= 5 years

Salvage Value = $43,200

Asset is purchased on January 1, 2020 and on September 30, 2022 depreciation of only 2 years and 9 months has charged.

Depreciation per year = (Cost of Asset - Salvage Value) / Useful life = ($259,200 - $43,200) / 5 = $43,200

Accumulated Depreciation as on September 30, 2022 = ($43,200 x 2) + $43,200 x 9/12 = $118,800

Book value of the asset is the net of accumulated depreciation of the asset. The accumulated depreciation on September 30, 2022, is as follow:

Net Book value of Asset = 259,200 - $118,800 = $140,400

5 0

3 years ago

Stocks and bonds:______

trasher [3.6K]

Answer: d. and checking accounts are all stores of value, but only checking accounts commonly function as mediums of exchange

Explanation:

Checking accounts : Is a type of account operated with a financial institution that allows the customer to deposit and also make withdrawals. It is also knowns as transactional accounts. In running a checking account, account owners can have access to their money using debit cards, and the use of cheque.

•What makes checking account different from other types of bank account is that it allows the owner to make numerous withdrawals and there is also no limit to deposits.

Stock: Is an investment owned by an individual or groups through the purchase of shares from a company, it could also be a certificate issued to indicate ownership of shares in an organization.

•It is a a way of investing for an investor because as the stock grows the money also grows and also a means of raising money for an organization.

Bonds: Are issued by an organization in other to raise capital, they are securities with fixed income. The bond holder lends money to the bond issuer and the money is paid back at a fixed payment rate within a period.

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3 years ago

Indicate the effect of each of the following transactions on total assets, total liabilities, and total stockholdersâ equity. Se

Scorpion4ik [409]

Answer:

Transaction Assets Liabilities Stockholders' Equity

Issue common stock Increase NE Increase

Issue preferred stock Increase NE Increase Purchase treasury stock Decrease NE Decrease

Sale of treasury stock Increase NE Increase Declare cash dividend NE Increase NE

Pay cash dividend Decrease Decrease NE

100% stock dividend NE NE NE

2-for-1 stock split NE NE NE

When shares are sold or issued, they increase the stockholders equity as people buy these shares. They also increase assets because cash comes into the company when the shares are sold. This is why the Issuing of preference and common stock as well as the sale of Treasury shares had the same effects.

When cash dividends are declared, they become a liability that is owed to equity holders.

When these dividends are then paid, they remove the liability but reduce assets as cash is used to pay the dividends.

100% stock dividend reduces retained earnings but increases equity so stockholders equity does not change.

8 0

3 years ago

Money, Inc., a calendar year S corporation in Denton, Texas, has two unrelated shareholders, each owning 50% of the stock. Both

kozerog [31]

Answer:

Both shareholder has $200,000 of dividend income resulting from the distribution.

Explanation:

Solution

Given that:

Now,

When the securities are issued, there will be a gain recognized of $200,000 to Money Inc. thus, The $200,000 = $1 million - $800,000.

The AAA will increase by $200,000.

This gain known will flow through to the two shareholders of Money Inc. as 50% is owned by both shareholders and the stock amount for each shareholder will be $200,000/2 = $100,000.

so, the basis of stock for each shareholder will increase by $100,000.

Now,

The distribution before AAA of securities the result will be = 300,000+100,000+200,000 = $600,000.

Then,

A $1 million distribution will be acted on first as coming first from AAA to the extent of $600,000.the amount balanced will be $1 million - $600,000 = $400,000. This will be serve as coming from AEP.

so,

The AAA is = 600,000 – 600,000 = 0.

The basis for each shareholder before distribution will be = 400,000+100,000+50,000 = 550,000.

The portion of non taxable of the above distribution = 300,000 from AAA.

Hence,the basis = 550,000 – 300,000 =250,000

Therefore, each shareholder has $200,000 of dividend income resulting from the distribution.

4 0

4 years ago