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3 years ago

true or false: a supply curve describes how much a producer of services are willing to sell at different prices

Business

1 answer:

densk [106]3 years ago

4 0

Answer:

True

Explanation:

The supply curve is a graph showing the quantities of a good or service a supplier is willing and able to supply at differnt prices.

According to the law of supply. the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

the supply curve is upward sloping

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During the year, Cheng Company paid salaries of $24,000. In addition, $8,000 in salaries has accrued by the end of the year but

Burka [1]

Answer:

Correct answer is D. Credit to Salaries Payable for $8,000

Explanation:

Based on the basic underlying guideliness in accounting, specifically matching principle. All income and expenses should be reported during the period it incurred. Thus, all expenses incurred during the period even though it wasn't paid yet shoud be recorded to the book and that's the moment that the year-end adjusting entry is necessary.

On the above given problem, the salaries paid of $24,000 is presumed to have been recorded in the book already. Because it incurred and paid within the calendar period. In addition, the salaries accrued by the year end needs year-end adjustment<em> to recognize the salaries expense applicable for the period</em>. Journal entry of it is to debit salaries expense and credit salaries payable in the amount of $8,000.

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3 years ago

Why is it important to look at external sources of information when exploring product and service information?

kolbaska11 [484]

Internal data is from within the company, like operations and sales figures. External data comes from looking at the market, such as consumer trends, and marketing research. It is important to consider external data because it gives companies a better picture of their customers and competitors.

5 0

3 years ago

Beedle issued a 10-year bond to Aeron Company on 1/1/20x6. The bonds have a 6% annual interest rate and pay interest semi-annual

Mama L [17]

1. The issue price of the bonds is<u> $215,589.16</u>.

2. An amortization schedule through 20x9 is as follows:

<h3>Amortization Schedule:</h3>

Period PV PMT Interest Expense Amortization FV

1 $215,589.16 $6,000 $5,389.73 $610.27 $214,978.89

2 $214,978.89 $6,000 $5,374.47 $625.53 $214,353.36

Year 2

3 $214,353.36 $6,000 $5,358.83 $641.17 $213,712.20

4 $213,712.20 $6,000 $5,342.80 $657.20 $213,055.00

Year 3

5 $213,055.00 $6,000 $5,326.38 $673.62 $212,381.38

6 $212,381.38 $6,000 $5,309.53 $690.47 $211,690.91

Year 4

7 $211,690.91 $6,000 $5,292.27 $707.73 $210,983.18

8 $210,983.18 $6,000 $5,274.58 $725.42 $210,257.76

3. The journal entry recorded by Beedle on January 1, 20x6 is as follows:

Debit Cash $215,589.16

Credit Bonds Payable $200,000

Credit Bond Premium $15,589.16

To record the issuance of $200,000 at 6% interest, semi-annually.

4. The amount in the accounts at the end of 20x6 are:

A. Bond payable $200,000

B. Premium $14,353.36 ($15,589.16 - $610.27 = $625.53)

C. Fair value adjustment on Bond payable = $1,235.80 ($610.27 = $625.53)

D. Interest expense = $10,764.20

5. The journal entry to record the bond retirement transaction on 12/31/20X8 is as follows:

Debit Bonds Payable $200,000

Debit Bonds Premium $12,000

Credit Cash $212,000

To record the bond retirement.

<h3>Data and Calculations:</h3>

Maturity period = 10 years

Interest rate = 6% semi-annually

Interest payment dates = June 30 and December 31

Market rate = 5%

Face value = $200,000

Semi-annual coupon payment = $6,000 ($200,000 x 3%)

Fair value of the bonds at December 31:

12/31/20X6 $ 213,200

12/31/20X7 $ 213,300

12/31/20x8 $ 212,000

<h3>Issue Price Calculations:</h3>

N (# of periods) = 20 (10 years x 2)

I/Y (Interest per year) = 5%

PMT (Periodic Payment) = $6,000 ($200,000 x 6% x 1/2)

FV (Future Value) = $200,000

Results:

PV = $215,589.16

Sum of all periodic payments = $120,000 ($6,000 x 20)

Total Interest $104,410.84

Learn more about recording bond transactions at brainly.com/question/15877561

#SPJ1

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2 years ago

Sheila receives a merit scholarship to cover part of her private college tuition. Her parents have a low income, poor credit, an

vfiekz [6]

Answer:

The correct answer would be D, Sheila's parents will qualify for a Plus loan because of their low income.

Explanation:

PLUS loan stands for Parents Loan for Undergraduate Students. It is the loan given to the parents of the students who are graduating with the college. It can be a post secondary loan. This loan is given to the students who cannot afford to meet the expenses of their studies as well as of other activities like books, notes, handouts etc. This loan is given to the parents of the students who have low incomes and can't afford to finance their child's education.

8 0

3 years ago

Stock Company has 2,000 units in beginning work in process inventory, 20% complete as to conversion costs, 23,000 units transfer

ss7ja [257]

Answer:

B. 26,000, 24,000.

Explanation:

Stock Company

Equivalent units

Particulars Units % of Completion Equivalent Units

Mat. Conversion Mat. Conversion

Transferred Out 23000 100 100 23000 23000

<u>Ending WIP 3000 100 331/3% 3000 999.9= 1000</u>

<u>Total Equivalent units 26000 24000</u>

<u />

The Equivalent units can be calculated either by adding the units transferred out and ending WIP or by adding beginning WIP and units started.

Equivalent units for materials 26000

and Equivalent units for conversion are: 24000

3 0

3 years ago