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3 years ago

Give one advantage and one disadvantage for a Command Economy.

Business

1 answer:

Pie3 years ago

5 0

Answer:

Command economy advantages include low levels of inequality and unemployment, and the common good replacing profit as the primary incentive of production. Command economy disadvantages include lack of competition and lack of efficiency.

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Calculate the balance of cash using a bank reconciliation (LO4-5) Spielberg Company's general ledger shows a checking account ba

Stella [2.4K]

Answer:

A. Bank balance per reconciliation $22,789

Company balance per reconciliation $22,789

B. No journal entry required

Dr Service fees expense $41

Cr Cash $41

Explanation:

A Preparation of a bank reconciliation to calculate the correct ending balance of cash on July 31, 2021

Bank Reconciliation

July 31 2021

Bank Cash balance

Per bank statement $22,364

Add Deposits outstanding $1,745

Checks outstanding -$1,320

Bank balance per reconciliation $22,789

Company Cash balance

Per generall edger$ 22,830

Service Fees -$41

Company balance per reconciliation $22,789

B. Preparation of the journal entry to adjust the balance for cash.

No journal entry required

Dr Service fees expense $41

Cr Cash $41

4 0

3 years ago

Find an article regarding full disclosure or the treatment of accounting changes. In 250-300 words, summarize the article that y

Akimi4 [234]

Hi, since this is an academic writing activity, I simply provided suggestions and explanations of key terms.

Explanation:

Basically writing an essay involves consulting good written sources of information that discuss the subject. The term accounting changes disclosure basically refers to the requirement for companies to disclose

any changes to its:

accounting principle,
accounting estimates, or
reporting entity.

Citation (reference) is a term used in reasearch to describe a source or a list of sources (published and unpublished) where information or data was consulted and used in the research work.

3 0

3 years ago

Jake is leaving Shoe Warehouse to open his own shoe boutique. Jake currently earns $40,000 a year at Shoe Warehouse, but he is e

lyudmila [28]

Answer:

$79,000

Explanation:

Given that,

Implicit cost and explicit costs are as follows:

Earning at Shoe Warehouse = $40,000 a year

Jake has rented a storefront = $40,000 per year

Spend = $11,000 on inventory

Total revenue = $170,000 per year

Therefore,

Economic profit = Total revenue - (Explicit cost + implicit costs)

= $170,000 - ($11,000 + $40,000 + $40,000)

= $170,000 - $91,000

= $79,000

8 0

3 years ago

Which of the following is considered a psychographic characteristic?

Lynna [10]

What are the choices... Psychographics has been applied to the study of personality, values, opinions, attitudes, interests, and lifestyles. ... Because this area of research focuses on activities, interests, and opinions, psychographic factors are sometimes abbreviated to 'AIO variables'.

3 0

3 years ago

Dotterel Corporation uses the variable cost concept of product pricing. Below is cost information for the production and sale of

skad [1K]

Answer:

$11.2 per unit

Explanation:

The computation of the variable cost per unit is shown below:

= Variable direct materials cost per unit + Variable direct labor cost per unit + Variable factory overhead cost per unit + Variable selling and administrative cost per unit

= $4.34 per unit + $5.18 per unit + $0.98 per unit + $0.70 per unit

= $11.2 per unit

We simply added the entire variable cost per unit so that the accuracy per unit could be reached

3 0

3 years ago