A liability would be credited and an expense would be debited if the business

Price rises from $10 to $11, and the quantity demanded falls from 100 units to 95 units. What is the price elasticity of demand

Sergeeva-Olga [200]

Answer:

0.54

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price

Midpoint change in quantity demanded = change in quantity demanded / average of both demands

change in quantity demanded = 100 - 95 = 5

average of both demands = (100 + 95) / 2 = 97.5

Midpoint change in quantity demanded = 5 / 97.5 = 0.051282

midpoint change in price = change in price / average of both price

change in price = $11 - $10 = 1

average of both price = ($11 + $10) / 2 = 10.5

midpoint change in price = 1 / 10.5 = 0.095238

Price elasticity of demand = 0.051282 / 0.095238 = 0.54

6 0

3 years ago

True or false? the patient should be given a receipt for payments on account even if the account is not paid in full.

Kruka [31]

The statement is True.

<h3>What does receipt mean?</h3>

Receipts are formal records that serve as evidence of a transaction or purchase involving money. Both stock market transactions and business-to-business exchanges issue receipts. As evidence of some expenses, receipts are also required for tax purposes.
A payment receipt, also known as a receipt for payment, is a record that serves as evidence of purchase. It is supplied by a company to its clients following the receipt of payment for any good or service.
The patient's receipt can assist you to understand this. You have a right to the patient's receipt under the law. This implies that if you request it, your doctor is required to give it to you. Its contents must be clearly explained and understandable to laypeople.

The patient should be given a receipt for payments on account even if the account is not paid in full.

The statement is True.

To learn more about the receipt, refer to:

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8 0

1 year ago

On December 31, 2020, Blossom Inc. has a machine with a book value of $1,034,000. The original cost and related accumulated depr

dangina [55]

Answer:

A)

Loss on Fire 280,720 debit

Acc depreciation 506,000 debit

Cash 643,280 debit

Equipment 1,430,000 credit

B)

Acc depreciation 526,000 debit

Cash 1,555,480 debit

Equipment 1,430,000 credit

Gain at disposal 608,480 credit

C)

charitable contribution 1,645,600 debit

accumulated depreciation 500,500 debit

equipment 1,430,000 credit

gain on disposal 716,100 credit

<u>Questions</u>

A Fire completely destroys the machine on August 31, 2021. An insurance settlement of $643,280 was received for this casualty. Assume the settlement was received immediately.

B On April 1, 2021, Tritt sold the machine for $1,555,840 to Dwight Yoakam Company.

C On July 31, 2021, the company donated this machine to the Mountain King City Council. The fair value of the machine at the time of the donation was estimated to be $1,645,600.

Explanation:

In all cases, the company will write-off the equipment and acc depreciation

A.-

complete depreciation for 2020: 66,000

depreciation until August 31th: 66,000 x 8/12 = 44,000

Total depreciation 104,000

book value 1,034,000 - 104,000 = 924,000

loss: 924,000 - 643,280 = 280,72‬0

b)

complete depreciation for 2020: 66,000

depreciation until April 31th: 66,000 x 4/12 = 22,000

Total depreciation 88,000

book value 1,034,000 - 88,000 = 946,000

1,555,480 - 946,000 = 608,480

c)

complete depreciation for 2020: 66,000

depreciation until July 31th: 66,000 x 7/12 = 38,500

Total depreciation 104,500

book value 1,034,000 - 104,500 = 929,500

gain: 1,645,600 - 929,500 = 716.100

3 0

3 years ago

In cultures that are high in uncertainty avoidance,————-

lukranit [14]

Culture is known to be the way of life of people in a particular place. In cultures that are high in uncertainty avoidance is one where orderliness, consistency, and structure are important.

Uncertainty avoidance is simply known as the way cultures socialize its people or members to feel in uncertain, novel, surprising, or in surprise situations.

People who have high uncertainty avoidance cultures often capitalizes on strict orderliness and consistency in behavior.

Conclusively, The ability to approach cross-cultural work relationships with a learner mind-set is known to be an attribute of high cultural intelligence.

Learn more about Culture from

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6 0

2 years ago

A revolving credit agreement is a formal line of credit. The firm must generally pay a fee on the unused balance of the committe

Shalnov [3]

Answer:

a. True

Explanation:

A revolving credit agreement is a line of credit, that is, a default limit that a firm can use to borrow money as much as possible until this limit is reached. The firm will have to pay the bank for a commitment to lend or extend such funds. The bank will also put some factors about the firm's ability to pay into consideration before revolving credit can be used.

8 0

3 years ago