Measures the value that a buyer places on a good
Ethics is the branch of philosophy that explores the nature
of moral virtue and evaluates human actions. Philosophical ethics differs from
legal, religious, cultural and personal approaches to ethics by seeking to
conduct the study of morality through a rational, secular outlook that is
grounded in notions of human happiness or well-being. A major advantage of a
philosophical approach to ethics is that it avoids the authoritarian basis of
law and religion as well as the subjectivity, arbitrariness and irrationality
that may characterize cultural or totally personal moral views. (Although some
thinkers differentiate between "ethics," "morals,"
"ethical" and "moral,")
Answer:
The Journal entry and their narrations is shown below:-
Explanation:
1. Allowance for doubtful accounts Dr, $9,800
To Account receivable-Oakley Co. $2,400
To Account receivable-Brookes Co. $7,400
(Being write off is recorded)
2. Account receivable-Oakley Co. Dr, $2,400
To Allowance for doubtful accounts $2,400
(Being amount reinstated is recorded)
3. Cash Dr, $2,400
To Account receivable-Oakley Co. $2,400
(Being cash received is recorded)
Answer:
The correct answer is that the company should <u>charge more to the business travelers</u> and <u>charges less to the vacationers</u>.
Explanation:
To begin with, the concept called ''elasticity'', in the field of economics, refers to the variation that occurs when a change in one variable affects a change in another variable. Moreover, this concept has many applications regarding if the main subject is the supply of a product or the demand of a product.
Secondly, the <em>price elasticity of demand</em> is an elasticity application in economics that establishes the changes that occur to the demand of a product when the price changes. This elasticity could be inelastic or elastic. In addition, if the price elasticity of demand is inelastic then when the price changes the quantity demanded of that product will not change drastically while in the other hand, if the price elasticity of demand is elastic then when the price changes the quantity demanded of that product will change drastically so therefore the consumers reject the change in the price.
Finally, if the company wants to increase its total revenue then it must increase the price that charges to the business travelers and decrease the price that charges to the vacationers.
Answer: $10,800
Explanation:
In the above scenario it is worthy of note that the company is the one that pays for Federal and State Unemployment tax.
That means that the employees pay for Federal income tax withheld at $4,000, Social security at 6% and Medicare at 1.5%.
Calculating salaries payable therefore would be,
= 16,000 - 4,000 - (16,000 * 6%) - (16,000 * 1.5%)
= $10,800
Salaries Payable would be recorded at $10,800.
