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Aleksandr-060686 [28]
3 years ago
6

Consider two spices, cumin and paprika, to be substitutes, a decrease in the supply of paprika, should cause an increase in the

price of
Business
1 answer:
makvit [3.9K]3 years ago
3 0

Answer:

an increase in the price of both

Explanation:

A decrease in the supply of paprika would cause an increase in the price of both substitute goods. When the supply of paprika falls, the demand will be greater than what is available for sale and this would cause the sellers to raise it's price afterall it is now scarce.

Also as a substitute good, more people would begin to switch to buying cummin which would raise the demand for cummin. This increase in demand for cummin would then cause the price of cummin to go up.

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On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at $18, and on Nov
ivann1987 [24]

Answer: The answer is as follows:

Explanation:

Journal entries are as follows:

For October 31:

Cash  (400,000 × $18)                   $7,200,000

Common stock  (400,000 × $10)                                          $4,000,000

Paid in capital in excess of par value-common stock         $3,200,000

( record of issuing common stock)

For November 19:

Cash  (50,000 × $80)                    $4,000,000  

Preferred stock (50,000 × $75)                                             $3,750,000

Paid in capital in excess of par value-Preferred stock        $250,000

( record of issuing preferred stock)

8 0
3 years ago
Which legal form of business ownership does the government have the most control in?
kirill115 [55]

Answer:

i am not sure for the first one, but for the second its a corporation

Explanation:

there are a lot of regulations connected with corporations and the taxation of these organizations

5 0
3 years ago
Read 2 more answers
the graph to the right depicts the per unit cost curves and demand curve facing a shirt manufacturer in a competitive industry 2
natulia [17]

The firm will exit or leave the industry as its not making any profits.

<h3><u>CALCULATION OF THE PROFITS</u></h3>

According to the Question,

The firm produces at P = MC

Where we know,

Q = 55 units

P = $4.78

ATC or Average Total Cost = 6.76

AVC or Average Valuable Cost = 3

P > AVC so the firm produces to minimize losses at the MC = P.

Profit = ( P - ATC ) × Q

=( 4.78 - 6.76 ) × 55

= - 108.9

The profit is - 108.9 dollars per minute.

As the firm in the industry is making losses ( a negative profit ) so it  will exit the industry in the long run.

To know more about competitive firms, check the given link.

brainly.com/question/28104159

#SPJ4

8 0
2 years ago
A(n) ________ industry is one that is characterized by a large number of firms of approximately equal size.
Elina [12.6K]
<span>An fragmented industry is one that is characterized by a large number of firms of approximately equal size. fragmented industry is the large of the share and market to be able to influence the industry direction. fragmented industry in individual owner and individual business are used.</span>
8 0
3 years ago
Following are selected transactions Danica Company for 2014:
Mamont248 [21]

Answer:

Explanation:

Answer:

On Dec 31, 2012 Lee's liability would be $9,500 (principal amount) and $38 (accrued interest)

Explanation:

Lees notes:

Dec. 13 Accepted a $9,500, 45-day, 8% note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable.

First interest due = $9,500 x 8% x 45/360 = $95

On the 31st 18 days would have accrued of the 45days = 18/45 x $95 = $38

On Dec 31, 2012 Lee's liability would be $9,500 (principal amount) and $38 (accrued interest)

Debit Miranda Lee with $9,538

Credit interest on Receivables $38

Credit Account receivables account with $9,500

When the full interest became due we will pass an additional entry:

Dr. Lee with $58

Cr. Interest on receivables with $58

(Being the balance interest on receivables due )

On Jan 27 when Lee paid her interest and principal amount, we will:

Debit Account receivables with $9,500

Debit interest on receivables Account with $95

Credit Tomas account with $9,595

( being liquidation of Lee's indebtedness)

Tomas notes:

Mar 3, Accepted a $5,000, 10%, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company.

Let's recognize the full interest due first:

$5,000 x 10% x 90/360 = $125

At this time we will:

Debit Tomas with $5,125

Credit interest on receivables with $125

Credit Account Receivables account with $5,000

On June 1 when Tomas paid his interest and principal amount, we will:

Debit Accounts receivable with $5,000

Debit interest on receivables with $125

Credit Tomas account with $5,125

( being liquidation of Tomas indebtedness)

Hiroshi Cheng notes:

Accepted a $2,000, 30-day, 9% note dated March 17 in granting Hiroshi Cheng a time extension on his past-due account receivable.

Interest = $2,000 x 9% x 30/360 = $15

The entries recognizing this liability will be to :

Debit Cheng Account with $2,015

Credit interest on receivables with $15

Credit Accounts receivable with $2,000

(Being receivables payable balance and interest on balance owed by Cheng)

However Cheng failed in paying up. It was decided to write off the debt.

The entries would be:

Dr. Accounts receivables $2,000

Dr. Interest on Accounts receivables with $15

Cr. Cheng's Account with $2,015

(Being debt owed by Cheng written off)

8 0
2 years ago
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