An economy where the government sets prices, determines what and how many items will be produced, and assigns

The type of problem that a consumer will become aware of in the normal course of events or is already aware of is known as a(n)

Keith_Richards [23]

Answer:

The type of problem that a consumer will become aware of in the normal course of events or is already aware of is known as a(n) active problem

Explanation:

An active problem is one consumer is aware of or will become aware of in the normal course of event.

7 0

2 years ago

The Carter Corporation makes products A and B in a joint process from a single input, R. During a typical production run, 50,000

klemol [59]

Answer: $54,000 per production run

Explanation:

As we are dealing with the decision of whether or not to process the good further, the irrelevant cost would be the cost of producing product B from input R.

This is because this cost has already been incurred to produce product B and so is a sunk cost. Sunk costs are irrelevant to the decision to process further.

30,000 units of B were made from 90,000 units R so the cost of B is:

= 30,000 / 50,000 * 90,000

= $54,000

The options here are probably for a variant of this question.

8 0

3 years ago

Keesha Co. borrows $230,000 cash on December 1 of the current year by signing a 150-day, 12%, $230,000 note. 1. On what date doe

muminat

Answer:

See explanation section

Explanation:

Requirement 1

April 30 is the maturity date of the note.

December 31 + January 31 + February 28 + March 31 + April 30 = 150 days.

Therefore, the note will be matured in the April 30, next year.

Requirement 2 & 3

Current year Interest: December 1 - December 31 = 30 days interest = $230,000 × 12% × (30 ÷ 360) = $2,300.

Following year Interest: January 1 - April 30 = 120 days interest = $230,000 × 12% × (120 ÷ 360) = $9,200.

Total Interest = $11,500

Requirement 4

Journal Entries

(a) Dec. 1 Cash Debit $230,000

Notes payable Credit $230,000

To record the borrow a loan by issuing a 150-day, 12% note.

(b) Dec. 31 Interest Expense Debit $2,300

Interest payable Credit $2,300

To record the accrued interest expense on December 31 (Current year).

(c) April 30 Notes payable Debit $230,000

Interest payable Debit $2,300

Interest Expense Debit $9,200

Cash Credit $241,500

To record the payment of the note at maturity.

6 0

3 years ago

Your store has average sales of $1,680 per day. Its shrinkage rate is 3%. What will its losses be for an entire year?

Lerok [7]

Answer:

$18,396

Explanation:

Average sales of the store per day = $1,680

Number of days in a year = 365

Total sales in a year = $1,680 x 365 = $6132,200

Shrinkage rate = 3%

Losses for an entire year = 0.03 x $6132,200 = $18,396

6 0

2 years ago

The following information is available for Amos Company for the year ended December 31, 2017. Balance of retained earnings, Dece

kvv77 [185]

Answer:

The retained earnings of Amos company for the year ended 31st December 2017 is $1,016,400.00

Explanation:

In calculating retained earnings for 2017, I began with prior year retained earnings of $866,000,deducted depreciation net of taxes not recorded previously.

After,having adjusted retained earnings for prior year, I added net income for the year 2017 of $216,000

Finally,I deducted dividends paid during 2017 of $25000 to arrive at closing retained earnings for 2017 as shown in the attached.

Download xlsx

8 0

3 years ago