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Alja [10]
3 years ago
15

If congress increases the minimum wage to $7.25 per hour, what happens to the demand for consumer goods as a result?

Business
2 answers:
KIM [24]3 years ago
8 0

Demand for consumer goods INCREASES.

vaieri [72.5K]3 years ago
8 0

Answer:

Increases

Explanation:

direct proportion

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During the current year, Harold Company sold inventory costing $350,000 for a selling price of $675,000. Beginning balances of i
Len [333]

Answer: $351,000

Explanation:

Given that,

Cost of inventory = $350,000

Selling price = $675,000

Beginning balance of inventory = $86,000

Beginning balance of accounts payable = $116,000

ending balance of inventory = $94,000

ending balance of accounts payable = $123,000

Cash paid to suppliers:

= Cost of Goods Sold + Change in inventory - Change in accounts payable

= 350,000 + (94,000-86,000) - (123,000-116,000)

= 350,000 + 8,000 - 7,000

= $351,000

6 0
3 years ago
On January 1, 2021, Essence Communications issued $800,000 of its 10-year, 8% bonds for $700,302. The bonds were priced to yield
aev [14]

Answer:

A)

before decrease in rates: 706,483

   after rate decrease:            751,360

B)

interest expense 35,015.12

discount on BP 3,015.12

cash 32,000

--bonds first interest payment--

C)

interest expense 35,165.87

discount on BP       3,165.87

cash              32,000

--second interest payment--

D)

unrealized loss 44,877

  discount on bonds payable  44,877

--to adjust bonds valuation--

Explanation:

First, we solve for the present value of the bond to get the proceeds from the issuance.

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 32,000

time 20

rate 0.05

32000 \times \frac{1-(1+0.05)^{-20} }{0.05} = PV\\

PV $398,790.7310

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   800,000.00

time   20.00

rate  0.05

\frac{800000}{(1 + 0.05)^{20} } = PV  

PV   301,511.59

PV c $398,790.7310

PV m  $301,511.5863

Total $700,302.3173

Now, we do the table for the first year:

# / Principal/      paid /    interest /       Amort/End. P

1 700,302 32000 35015.12 3015.12 703,317

2 703,317 32000 35165.87 3165.87 706,483

Now, we have to redo the calculations for the bonds market value considering a decrease in the market rate to 9%

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 32,000

time 18

rate 0.045

32000 \times \frac{1-(1+0.045)^{-18} }{0.045} = PV\\

PV $389,119.7377

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   800,000.00

time   18.00

rate  0.045

\frac{800000}{(1 + 0.045)^{18} } = PV  

PV   362,240.30

PV c $389,119.7377

PV m  $362,240.2951

Total $751,360.0328

We adjust for: 751,360 - 706,483 = 44,877

This will be an unrealized loss as the liability increases but, will be realized on the redemption of the bonds or at the end of the bonds' life.

3 0
3 years ago
You are hosting a concert to fundraise for charity. You have to sell tickets to this event in order to raise money. The expenses
dimaraw [331]

Answer:

$9

Explanation:

100+60+50+60=270 270÷30=9

3 0
3 years ago
Abc generally causes the least amount of cost distortion among products because indirect costs are allocated to the products bas
mel-nik [20]

Answer:

Cost Drivers

Explanation:

Abc generally causes the least amount of cost distortion among products because indirect costs are allocated to the products based on  cost drivers.

Activity Based Costing does not apportion indirect costs but allocates them to products based on the level at which they drive those costs.

Cost driving is based on which activities or overheads are used by a product and by how much does it use (drive) those activities.

8 0
3 years ago
The following accounts appear in an adjusted trial balance of Blaine Auto Service Company. Indicate whether each account would b
valkas [14]

Answer:

          Account                                     <u>To be indicated in</u>

1. Retained Earnings                         e) Stockholders' Equity

2. Accumulated Depreciation          b) Property, Plant, and Equipment

3. Unearned Revenues                     c) Current Liabilities

4. Mortgage Payable (due                c) Current Liabilities

    in 6 months)

5. Equipment Property, Plant,           b) Property, Plant, and Equipment

    and Equipment

6. Notes Payable (due in                   d) Long-term Liabilities

    two years)

7. Cash                                                 a) Current Assets

8. Accounts Receivable                      a) Current Assets

4 0
3 years ago
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