Here is how I do it:
Make a List.
I wrote down all the crazy things that were in my head. ...
Decide How Long Each Thing Takes.
Some things on your list will take 15 minutes or less. ...
Determine The Open Time Slots of The Day. Right now, I have a few hours that are open. ...
Schedule Each Activity. ...
Take a Deep Breath.
Answer: decrease the creditor's account balance and be posted to the debit
Explanation:
Allowances are reductions in the money owed to creditors and they include things like sales returns or sales discounts. When recorded, they should therefore reduce the amount in the creditor's account to show that less cash is owed to the creditor.
As Creditor accounts are liabilities, they are credited when they increase and debited when they decrease. They will therefore have to be debited in this instance.
Answer:
Enrique
a) Accounting profit = $114
b) Economic profit (loss) = ($136)
Explanation:
a) Data and Calculations:
Monthly Rent = $1,600
Cost price of flowers = $2 per bunch
Selling price of flowers = $3 per bunch
Operations are for 7 days (8 hours daily) = 56 hours
Quantity of flowers sold per day = 100 bunches
Quantity of flowers sold per week = 700 (100 * 7)
Employee hours = 5 * 3 + 2 * 8 = 31 hours
Hours worked by Enrique = 25 (56 - 31)
Employee wages = $186 ($6 * 31)
Opportunity cost: Enrique = 25 * $10 = $250 per week
Accounting profit:
Sales revenue ($3 * 700) = $2,100
Cost of sales ($2 * 700) = 1,400
Gross profit $700
Expenses:
Rent ($1,600/4) = 400
Employee wages = 186 586
Accounting profit = $114
Economic profit:
Accounting profit $114
Opportunity cost 250
Economic loss = $136
Answer: Unemployment
Explanation:
Unemployment is the condition when individuals who are above the specified age for employment are not in any paid employment but currently available to work.
Here, Simone is a 26-year-old has lost her job as a copy editor for a local newspaper. She is currently out of work and interviewing for other editing jobs. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks. Simone is in the Unemployment category.