Answer:
Explanation:
Long-term Investment cost = $25
Long-term Investment sales value = $54
Gain from Long-term Investment = $(54-25) = $29
Land cost = $53
Land sales value = $28
Loss from sale of Land = $(28-53) = -$25
Cash Dividend paid = $22
Total change in Assets = $(29-25) = $4
Total change in Equity = -$22
Answer:
The price elasticity of demand for icecream is -0.75, that means that is inelastic.
Explanation:
Price elasticity of demand measures the porcentage of the change in the demand when there is a change in the price. If the change in porcentage of the demand is less than the pocentage of change in the price we talk about inelastic demand. An increase in the price of inelastic goods will result in bigger revenues, as the porcentage in the drop of sales is less than the porcentage of increase in the price.
The formula is: % in change demand/% in change of price
-3%/4= -0.75
The minus symbol indicates that when the price rises the demand decrease.
Answer:
b. quasi contract
Explanation:
-Liquidated damages refers to a mechanism in a contract in which a party can request a compensation because of breach.
-Quasi contract is an agreement that is recognised by a court when there is no written contract between two parties and there is a conflict about a payment of a product or service.
-Reformation is a change made by a court in a document when one party that participates in it makes a request.
-Restitution is when someone receives a compensation for a loss or an injury.
According to the options given and the definitions, the answer is quasi contract.
Answer:
a. $349,700
b. $209,900
Explanation:
The computation is shown below:
Before computing the cash payment made to supplier first we have to find out the purchase amount which is shown below:
(a) Change in Finished goods + purchase = Cost of goods sold
-$25,800 + purchases = $307,000
So, the purchase is $332,800
Now
Cash paid to supplier is
= $332,800 + $16,900
= $349,700
And,
(b) Cash paid for operating expenses is
= $229,000 - $8,000 - $11,100
= $209,900
