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3 years ago

When a good is rival in consumption,

1 answer:

7 0

When a good is rival in consumption, one person's use of the good diminishes another person's ability to use it.

A rival good is a good that can only be purchased or consumed by a single user. When they use this good or purchase it, they take the ability of someone else to use it away. This item can be durable or not durable but consumption destroys it.

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Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of busines

jek_recluse [69]

Answer:

Easton Co.'s adjusted book balance June 30 = $72,724

Explanation:

Bank balance June 30: $68,349 Book balance June 30: $72,709

Deposit in transit: $7,550 Interest earned: $55

Outstanding checks: ($3,175) Check printing fees: ($40)

Adjusted bank balance: $72,724 Adjusted book balance: $72,724

3 0

3 years ago

Explain how to calculate a person’s net worth and why they would need to know their net worth?

slavikrds [6]

Answer:

Net worth is the value of all assets, minus the total of all liabilities. Put another way, net worth is what is owned minus what is owed. it can help you identify areas where you spend too much money

4 0

3 years ago

The following two errors were made in the physical inventory counts: 1. 2012 ending inventory was overstated by $33,000. 2. 2013

timofeeve [1]

Answer:

2013: $490,000 2012: $561,000

Question:

Errors in inventory count the following information was taken from the record of Spencer Enterprises

2013 2012

Beginning Inventory $63,000 $83,000

Cost of goods purchased $548,000 $508,000

Cost of goods available for sale $611,000 $591,000

Ending inventory $93,000 $63,000

Cost of goods sold $518,000 $528,000

The following two errors were made in the physical inventory counts:

1. 2012 ending inventory was overstated by $33,000

2. 2013 ending inventory was understated by $28,000.

Compute the correct cost of goods sold for both 2012 and 2013.

Explanation:

Computation of cost of goods sold for the year 2016 and 2015

Particulars 2013 2012

Beginning inventory $63,000 $83,000

Cost of goods purchased $548,000 $508,000

Cost of goods available for sale $611,000 $591,000

Ending inventory (corrected) $121,000 $30,000

Cost of goods sold (corrected) $490,000 $561,000.

note:

In 2013 new ending inventory = $93,000 + $28,000 = $121,000

In 2012 new ending inventory = $63,000 - $33,000 = $30,000

Beginning inventory + Cost of goods purchased = Cost of goods available for sale

Cost of goods available for sale - Ending inventory = Cost of goods sold

3 0

3 years ago

"Moyas Corporation sells a single product for $10 per unit. Last year, the company's sales revenue was $280,000 and its net oper

Harlamova29_29 [7]

Answer:

23,750 units

Explanation:

The computation of the break even point in unit sales is shown below

Break even point = (Fixed expenses) ÷ (Contribution margin per unit)

where,

Contribution margin per unit = Selling price per unit - Variable expense per unit

The variable expense per unit is

= (Sale revenue - fixed expenses - net operating income) ÷ (Number of sales units)

= ($280,000 - $17,000 - $95,000) ÷ ($280,000 ÷ 10 per unit)

= ($280,000 - $17,000 - $95,000) ÷ (28,000 units)

= $6 per uni

And, the fixed expenses is $95,000

Now put these values to the above formula

So, the value would equal to

= ($95,000) ÷ ($10 - $6)

= 23,750 units

4 0

4 years ago

According to the Insurance Institute of America, a family of four spends between $400 and $3,800 per year on all types of insura

CaHeK987 [17]

Answer:

Explanation:

Mean can simply be define as the average of a set of numbers.

$400 and $3,800 per year is spends on all types of insurance.

A= 400

B= $3,800

Using the formula:

u = a+b/2

=$400 +$3,800/ 2

=$4,200 /2

=$2,100

Therefore the mean amount spent on the insurance is $2,100

5 0

4 years ago