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Natalija [7]
3 years ago
11

Metlock Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at

a cost of $902,900. At December 31, 2021, the raw materials to be purchased have a market value of $853,000. Prepare any necessary December 31, 2021 entry.
Business
1 answer:
denis23 [38]3 years ago
3 0

Answer:

Entry for december 1, 2021:

Purchase Inventory=$853,000

Liability on purchase commitment=$902,900-$853,000

Liability On purchase commitment=$49000

Cash=$902,900

Explanation:

Entry for december 1, 2021:

Purchase Inventory=$853,000

Liability on purchase commitment=$902,900-$853,000

Liability On purchase commitment=$49000

Cash=$902,900

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denis23 [38]

Answer:

The right answer is C; There is an inverse relationship between price and quantity demanded

Explanation:

The law of demand indicates that there is an inverse relationship between the price and the quantity demanded of a good.

This means that if the price of a good increases, then demand decreases and if the price decreases, demand tends to rise at the same time.

4 0
4 years ago
If the actual terms of trade are 1 belt for 1.5 swords and 70 belts are traded, how many belts will Morocco gain compared to the
motikmotik

Answer:

If Morocco produces 120 belts and exports 70 belts:

  • it will receive 105 swords (= 70 x 1.5)
  • it will consume 50 belts (its domestic consumption of belts will decrease by 10)

Explanation:

Without trade, Morocco will produce 60 swords and 60 belts and consume them all, but if it engages in trade, it will produce 120 belts.

  • Morocco's opportunity cost of producing one belt = 60 / 60 = <u>1</u>
  • Morocco's opportunity cost of producing one sword = 60 / 60 = 1

  • Estonia's opportunity cost of producing one belt = 100 / 40 = 2.5
  • Estonia's opportunity cost of producing one sword = 40 / 100 = <u>0.25</u>

If Morocco produces 120 belts and keeps current consumption level:

  • it consumes 60 belts
  • it can trade 40 belts for 60 swords
  • it will have a 20 belt surplus production

If Morocco produces 120 belts and exports 70 belts:

  • it will receive 105 swords (= 70 x 1.5)
  • it will consume 50 belts

6 0
4 years ago
The Foreign Corrupt Practices Act (FCPA) has been criticized for:
True [87]

Answer:

The Foreign Corrupt Practices Act (FCPA) has been criticized for:

b. putting U.S. corporations at a competitive disadvantage in international trade.

Explanation:

b. putting U.S. corporations at a competitive disadvantage in international trade.

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What is Helena Fogarty doing to build brand equity for Mi Ola?
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she is using social media to build brand equity.

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3 years ago
A customer owns an ABC Call option. ABC declares a dividend for shareholders on record July 5th. The last day to exercise the op
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Based on the information given, the last day to exercise the option and get the dividend is D. July 3rd.

A dividend simply means the distribution of profits by a  corporation to the shareholders. It's simply the profit shared with them.

Since the customer owns an ABC Call option and ABC declares a dividend for shareholders on record July 5th, then the last day to exercise the option and get the dividend is July 3rd.

Learn more about dividend on:

brainly.com/question/6867866

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