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4 years ago

Which of the following is true?

Business

1 answer:

NNADVOKAT [17]4 years ago

4 0

Answer: Option (D) is correct.

Explanation:

Correct option: A nation cannot have a comparative advantage in the production of every good.

A country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity in terms of other commodity is lower than the other country.

While calculating the opportunity cost of producing a commodity, country takes into account both the commodities. Hence, it was not possible that a country is having comparative advantage in the production of every commodity.

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What does every letter in Management mean?

MAXImum [283]

Answer:

summarize it's a letter written by company management which attests to the accuracy of an audit

Explanation:

audit-to conduct a financial examination of an organisations account

6 0

3 years ago

Determine whether the results below appear to have statistical significance, and also determine whether the results have practi

Butoxors [25]

Nο, thе prοgram is nοt statistically significant bеcausе thе rеsults arе likеly tο οccur by chancе.

Yеs, thе prοgram is practically significant bеcausе thе amοunt οf lοst wеight is largе еnοugh tο bе cοnsidеrеd practically significant.

6 0

3 years ago

Here are selected 2017 transactions of Novak Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2

Oliga [24]

Answer:

dep expense 4,450 debit

acc depreciation computer 4,450 credit

to record depreciation for the computer

cash 4,700 debit

acc depreciation 22,250 debit

loss on disposal 9,250 debit

computer 35,600 credit

to record sale of computer

dep expense 4,160 debit

acc depreciation truck 4,160 credit

to record depreciation expense for the truck 2017

cash 9,500

acc depreication 16,640

gain on disposal 2,040

truck 24,100

to record sale of a truck

Explanation:

Computer:

35,600 / 4 = 8,900 depreciation per year

depreciation for 2017

january to june 30th --> half a year so half depreciation

8,900 / 2 = 4,450

then we do the sale of the computer

acc depreciation

from jan 1st 2015 to june 30th 2017

2 and a half year

8,900 + 8,900 + 4,450 = $22,250.00

book value 35,600 - 22,250 = 13,350

proceeds 4,700

loss on disposal 9,250

truck

Acquisition Value 24100

Salvage Value 3300

ammount subject to depreciation 20800

Useful Life 5

depreciation per year 4160

We need to do the entry for the depreication for the year.

Then we calcualte the gain/loss on disposal

accumualted from jan 2014 to dec 31th 2017

4 years

4,160 x 4 = 16,640

book value 24.100 - 16,640 = 7,460

proceeds 9,500

gain on disposal 2040

5 0

4 years ago

If the assets of a business are $ 390 comma 000 and the liabilities are $ 110 comma 000, how much is the owners' equity? (2)

Softa [21]

If the assets of a business are $ 390 comma 000 and the liabilities are $ 110 comma 000, how much is the owners' equity?

Using the Balance Sheet Equation

Assets= Liabilitites+Owners Equity

390000=110000+Owners Equity

Owners Equity=$280000

if the owners' equity in a business is $ 90 comma 000 and the liabilities are $ 190 comma 000, how much are the assets?

Using the Balance Sheet Equation

Assets= Liabilitites+Owners Equity

Assets=190000+90000

Assets=$280000

(3) a company reported monthly revenues of $ 315 comma 000 and expenses of $ 100 comma 000. what is the result of operations for the month?

Net income= Revenues-Expenses

Net income=315000-100000

Net Income= $215000

(4) if the beginning balance of retained earnings is $ 160 comma 000, revenue is $ 100 comma 000, expenses total $ 65 comma 000, and the company declares and pays a $ 10 comma 000 dividend, what is the ending balance of retained earnings?

This can be found by below schedule:

Beginning Balance............................................................................160000

Add Revenue.......................................................................................100000

Less Expense.....................................................................................(65000)

Less Dividend.....................................................................................(10000)

Ending Balance of Retained Earnings........................................185000

3 0

3 years ago

The Colson Company issued $300,000 of 10% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable eac

emmainna [20.7K]

Answer:

1. The bonds are issued at face value:

(a) Jan 1

Dr Cash 300,000

Cr Bond payable 300,000

( to record cash receipt from bond issuance at par)

(b) Jul 1

Dr Interest expenses 15,000

Cr Cash 15,000

( to record payment of interest expenses calculated as 300,000 x 10% /2)

Dr Interest expenses 15,000

Cr Interest payable 15,000

( to record incurred of interest expenses calculated as 300,000 x 10% /2)

2. The bonds in question 1 were issued at 98.

(a) Jan 1

Dr Cash 294,000

Dr Discount on Bond 6,000

Cr Bond Payable 300,000

( to record cash receipt from bond issuance in which Cash receipt = 300,000 * 98%; Bond Payable is recorded at par $300,000; The difference is recorded as Dr Discount on Bond $6,000)

(b) Jul 1

Dr Interest expenses 15,600

Cr Discount on bond 6,00

Cr Cash 15,000

( to record interest expenses incurred which is consists of $15,000 cash payment and the amortization of Discount on bond account calculated as 6,000/10 interest payment period)

Dr Interest expenses 15,600

Cr Discount on bond 6,00

Cr Interest Payable 15,000

( to record interest expenses incurred which is consists of $15,000 interest payable plus the amortization of Discount on bond account calculated as 6,000/10 interest payment period).

3. Assume the bonds in question 3 were issued at 103:

(a) Jan 1

Dr Cash 309,000

Cr Premium on Bond 9,000

Cr Bond payable 300,000

( to record cash receipt from bond issuance in which Cash receipt = 300,000 * 103%; Bond Payable is recorded at par $300,000; The difference is recorded as Cr Premium on Bond $9,000)

(b) Jul 1

Dr Interest expenses 14,100

Dr Premium on bond 900

Cr Cash 15,000

( to record interest expenses incurred which is consists of $15,000 cash payment minus the allocation of Premium on bond account calculated as 9,000/10 interest payment period)

Dr Interest expenses 14,100

Dr Premium on bond 900

Cr Interest Payable 15,000

( to record interest expenses incurred which is consists of $15,000 interest payable minus the allocation of Premium on bond account calculated as 9,000/10 interest payment period)

Explanation:

8 0

3 years ago