If the two nations trade, the trade price of wheat in terms of steel will be "greater than the domestic opportunity cost of wheat in alpha and less than the domestic opportunity cost of wheat in beta".
Opportunity cost speaks to the advantages an individual, financial specialist or business misses out while picking one option over another. While financial reports don't demonstrate opportunity cost, entrepreneurs can utilize it to settle on wise choices when they have different choices available to them.
Answer:
d. Work-in-Process Inventory: Department no. 2.
Explanation:
The profuct is Transferred from Department 1 to Department 2. The cost in in the work in process of Department 1 which will be trasnferred to next department.
Following Journal entries will be recorded for this event.
Dr. Cr.
Work-in-Process Inventory: Department no. 2. xxx
Work-in-Process Inventory: Department no. 1 xxx
Closing cost is the term used to call for a fees associated with buying and finalizing your loan. When you say closing cost meaning you are closing a real estate transaction. From the world itself closing, meaning you are conveying the estate to the buyer.
Answer:
a. $70,500
b. $7,500
c. $9,000
Explanation:
a. The computation of the amount of revenue is shown below:-
Amount of revenue = Ending balance of accounts receivable + Cash collected - Beginning balance of accounts receivable
= $10,500 + $72,000 - $12,000
= $70,500
b. The computation of net income earned during the accounting period is shown below:-
Net income = Revenue generated - Expenses
= $70,500 - $63,000
= $7,500
c. The computation of amount of cash flow from operating activities is shown below:-
Net cash flow from operating activities = Cash collection - Amount paid for operating expenses
= $72,000 - $63,000
= $9,000
The cost of goods purchased for the period is $90,000 having the required account balances .
<h3>Account balances </h3>
An account balance is the amount of money present in a financial repository, such as a savings or checking account, at any given moment. The account balance is always the net amount after factoring in all debits and credits. An account balance that falls below zero represents a net debt—for example, when there is an overdraft on a checking account. For financial accounts that have recurring bills, such as an electric bill or a mortgage, an account balance may also reflect an amount owed.
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