Formula<br>of<br>Monopoly market

Bingerton industries began the year with inventory of$85,000. Purchases of inventory on account during the year totaled $310,000

Charra [1.4K]

The first entry of the journal records the inventory of of $310,000 as debited and accounts payable as credited.

<h3>What is inventory management?</h3>

The process of counting and recording fluctuations in the prices of assets such as raw materials, work-in-progress, and finished goods refers as Inventory management.

Following are the Journal entries-

1. Inventory accounts A/c $310,000

To Accounts Payable A/c$310,000

(Being the inventory is purchased)

2. Accounts Receivable A/c $520,000

To Sales Revenue A/c $520,000

( Being inventory is sold)

3. Cost of Goods Sold A/c $335,000

To Inventory A/c $335,000

(Being inventory is sold )

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8 0

2 years ago

The _____ market is a market in which the demand for and supply of money determine an interest rate or opportunity cost of holdi

jek_recluse [69]

Answer:

Money

Explanation:

4 0

3 years ago

1. Famous celebrities and the super-wealthy oftentimes pay others to do many of their household tasks for them. For example, the

poizon [28]

Explanation:

1) Famous celebrities and the people with lots of money are often seen with workers round them for their household chores/tasks. Although they are paying money for the work they could have done by themselves but if we analyze closely, they are actually taking advantage of the opportunity cost. The time when they were suppose to do the household work, now they are performing other task in that time which will be giving them much greater economic benefit, taking advantage of the concept of opportunity cost. For example, Cristiano Ronaldo can focus on his workout and daily exercise instead of making daily meals for himself, so he should have hired someone to do the meal work for him while he perform his workout which will help him on the field and will earn him much money.

2) Yes, it is possible for 2 countries to benefit from trade as a whole because they can get into an agreement by allowing free trade between the countries, for example, both the countries could agree that all the trade which will be executed between them would be tax free and no duties will be paid on them. This way the trade numbers would increase and industrialization would take place to meet the export/import orders. On the contrary, trading individually can be not so beneficial because there will be no free trade agreements between individuals i.e. no free lunches, that is why it could cost individuals much more than they can make money out of it.

3) One of the main reasons to oppose policies that restrict trade among the nations is that GDP. GDP is a measure of growth in any country, therefore when there will be no trade among countries, it would result in less productions of goods and services which which lead to less industrialization, which then will result to low employment and more unemployment, ultimately resulting in very low growth for any country and since growth is the only way forward for any nation, economists oppose policies that restrict trade among countries/nations.

I hope this detailed answer of mine help the poster.

Thank You and Good Luck.

5 0

3 years ago

Mr. Deli wants to start a small sandwich shop in his neighborhood. He has enormous amounts of cash that he inherited from his Un

Brilliant_brown [7]

Answer:

sole proprietorship

Explanation:

A sole proprietorship is a type of business that is owned by one person

Characteristics

1. it is owned by one person

2. the business has unlimited liability

3. the business has limited access to capital

4. the business usually lacks continuity. this type of business usually ceases to exist when the owner dies

5. the business is usually not separated from the owner

8 0

3 years ago

A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resu

kherson [118]

Answer:

b.$60,000 outflow.

Explanation:

Cash flows from financing activities

Retiring value of bonds for cash -$60,000

Cash flow from financing activities -$60,000

Since the cash flow statement records only cash transactions. So in the given case, the bonds are retired for $60,000 in cash that reflects the cash outflow and the same is to be presented on the financial statements

3 0

3 years ago

FormulaofMonopoly market​

FormulaofMonopoly market