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horrorfan [7]
4 years ago
10

Complete the following statement. Merchandise inventory that is still available for sale is considered a(n) (asset/expense/reven

ue) and is reported on the (balance sheet/income statement) and merchandise that is sold during the period is considered a(n) (asset/expense/liability) and reported on the (balance sheet/income statement).
Business
2 answers:
Taya2010 [7]4 years ago
8 0

Answer:

Asset

Balance Sheet

Expense

Income statement

Explanation:

An asset is defined as a property of company, from which future economic benefits will arise, as for inventory in hand, the inventory can be sold in future and then future benefits will arise from such sale. Thus, it is an asset and assets are reported in balance sheet.

The expenses are the cost associated to earn the revenue, as when any inventory is sold the inventory is recorded as an expense called cost of goods sold, which is recorded in income statement.

pogonyaev4 years ago
6 0

Answer:

Merchandise inventory that is still available for sale is considered an asset and is reported on the income statement and merchandise that is sold during the period is considered an expense and reported on the balance sheet

Explanation:

This is true by definition:

  • Assets are reported in income statement
  • Expenses are reported in balance sheets
  • Assets are goods or purchases that can be sold and later converted
  • Expenses are actually cash that is spent to earn revenues
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  • Diseconomies of scale result from monthly bike sales of more than 400.
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<h3>What is Diseconomies of scale?</h3>
  • Diseconomies of scale are the cost disadvantages that economic actors experience as a result of growing their organizational size or their output.
  • Which leads to higher per-unit costs for the production of products and services.
  • Economies of scale are opposed by the idea of diseconomies of scale.
<h3>What is Economies of scale ?</h3>
  • The cost advantages that businesses experience as a result of their size of operation are known as economies of scale.
  • And they are often quantified by the amount of output generated in a given amount of time.
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<h3>What is Constant Returns to Scale?</h3>
  • When a company's inputs, such as capital and labor, expand at the same rate as its outputs, or the value of their goods, this is known as a constant return to scale in economics.
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7 0
2 years ago
Gloria is a tax accountant who is very busy from january to april 15, which is the tax return filing deadline. she feels that sh
matrenka [14]
Gloria is encountering pressure. In spite of the fact that uneasiness might be an aftereffect of weight, Gloria is encountering weight subsequently of her need to work longer hours to meet a due date.

I hope the answer will help you. 
8 0
3 years ago
Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received
Olegator [25]

Answer:

The after-tax cost is $23,940

Explanation:

For computing the after-tax cost, first we have to compute the present value which is shown below:

Present value = Bill payment × marginal tax rate

                       = $38,000 × 37%

                       = $14,060

So, after tax value would equal to

= Bill payment or Pre tax value - Present value

= $38,000 - $14,060

= $23,940

8 0
3 years ago
The average ticket price for a concert at the opera house was ​$50. The average attendance was 2500. When the ticket price was r
Ber [7]

Answer:

The price per ticket should be $37.5

Explanation:

First we need to determine the change in demand (attendance) as a result of every $1 increase in the price of ticket.

The ticket price increased by $4 (from 50 to 54) and the demand fell by 400 (from 2500 to 2100). The change per dollar is,  400 / 4 = 100.

So, for every $1 increase in price, demand falls by 100.

The revenue is calculated by multiplying price by quantity demanded. Revenue equation will be,

Let x be the change in price from $50.

Revenue = (50 + x)  * (2500 - 100x)

Revenue = 125000 - 5000x + 2500x - 100x²

Revenue = 125000 - 2500x - 100x²

To calculate the price that maximizes the revenue, we need to take the derivative of this equation.

d/dx = 0 - 1 * 2500x° - 2 * 100x

0 = -2500  -  200x

2500 = -200x

2500 / -200 = x

-12.5 = x

Price should be 50 - 12.5 = 37.5

At price $37.5 the revenue of the Opera House is maximized.

6 0
3 years ago
Economics is the study of how individuals and societies make choices under the condition of:.
Lubov Fominskaja [6]

Economics is the study of how individuals and societies make choices under the condition of scarcity.

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It signifies that the price of the product or service exceeds the supply of that product or service. As a result, scarcity might limit the options available to customers, who make up the economy in the end.

       

Individuals, organizations, and governments all use economics to understand their behaviors and decisions. It gives people a way to comprehend how people interact in a market-driven society and to analyze how government policies affect them.

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7 0
2 years ago
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