Answer:
A)After the reversing entry is posted for the adjustment made to recognize the salaries expense at the end of the accounting period, the Salaries Expense account will have a zero balance and the Salaries Payable account will have a credit balance
Explanation:
Reversing entry can be regarded as
a journal entry which is been made during an accounting period, it
reverses selected entries that is been made during immediately preceding period. reversing entry typically take placeat the beginning of particular accounting period.
It should be noted thatReversing entries are;
1) made to reverse the effect of certain adjustments.
2) provide a way to guard against oversights, eliminate the review of accounting records, and simplify the entry made in the new period.
3)is the exact opposite (the reverse) of the adjustment.
Answer:
B) False
Explanation:
The correct phrase should be:
Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer standardized products, while oligopolists producing consumer goods usually offer differentiated products.
An example of an oligopolistic industry that we all know about is the car industry. There are very few car companies in the world since only very large companies can actually manufacture cars. Car companies offer differentiated products.
Answer:
50%
Explanation:
Contribution margin is used to determine the profitability of a product. it is price less variable cost
Contribution margin ratio = (price - variable costs) / price
variable cost = 80 - 20 = 60
price = 120
(120 - 60) / 120 = 50%
Answer:
The maximum utility is 16 utils
Explanation:
To maximize the utility we must choose the items that gave most utils.
Each item cost $1 and we have $4 to spend.
1 slice of pizza: 5 utils
2 slice of pizza: 4 utils
3 slice of pizza: 3 utils
1 soda: 4 utils
2 soda: 3 utils
3 soda: 2 utils
If we display them in a decrease order and we choose the first four rows.
1 slice of pizza: 5 utils (1 dollar)
2 slice of pizza: 4 utils (1 dollar)
1 soda: 4 utils (1 dollar)
3 slice of pizza: 3 utils (1 dollar)
2 soda: 3 utils
3 soda: 2 utils
Highlighted are the ones we must get to get the maximum utility.
The maximum utility is 5 utils +4 utils+4 utils+3 utils= 16 utils
Answer:
Net operating income is $300
Explanation:
We know that,
The net operating income = Sales - variable cost - fixed expenses
And, the contribution margin = Sales - variable cost
So, contribution margin - fixed expenses = Net operating income
Since we have to compute the net operating income for 3,500 units So, first we have to compute the contribution margin per unit which is shown below:
= Contribution margin ÷ number of units
= $48,000 ÷ 4,000 units
= $12
Now for 3,500 units, the contribution margin would be
= 3,500 units × $12
= $42,000
So, the net operating income would be
= $42,000 - $41,700
= $300
The fixed expenses would not be changes. It remains constant
