Answer:
Autonomous consumption is <u>$1,000</u> and the marginal propensity to consume is <u>0.9</u>.
A consumer whose income increases by $100 will increase consumption by <u>$90</u>.
Explanation:
Given C = 1000 + 0.9Y
Autonomous consumption refers to consumption expenditure of consumers that does not depend on income. Therefore, autonomous consumption is therefore the consumption expenditure made by the consumers when they do not have income or when income is zero (i.e. when Y = 0).
Substituting for Y = 0 into the consumption function, we can obtain autonomous consumption is follows:
Autonomous consumption = 1000 + (0.9 * 0) = 1,000
The marginal propensity to consume refers to the proportion of the increase in disposable income that is spent on the consumption of goods and services by a consumer. From the consumption function, the marginal propensity to consume is 0.9.
Since marginal propensity to consume is 0.9, a consumer whose income increases by $100 will therefore increase consumption by $90 (i.e. $100 * 0.9 = $90).
Answer: D. Longhorn owns the inventory and should report it on its balance sheet.
Explanation:
Goods to be sold on consignment for a company means a company is selling goods for another company and will be paid for their services.
In that case, the company being sold for will retain the ownership of the goods because the company that is selling it for them is simply providing a service.
Angus in this scenario are simply holding the goods to sell it and so do not own the goods. Longhorn should therefore record it in their own books as inventory.
A business that does not need a full-time accountant, would most likely use a public accountant in which services are exchanged for a fee.
<h3>Who is an accountant?</h3>
An accountant is a professional who is responsible for analyzing and interpreting financial records of an organization. He also keeps the financial records of business or firm that employs him.
The role of an accountant include performing accounting functions such as:
- Analyzing accounts
- Auditing
- Reporting the financial transactions of a person or a business.
Learn more about accountants here: brainly.com/question/13433103
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Answer:
Equity at August 1st 0
adds: Carmen Camry Investment 101,4000
Net Income 5,410
Subtotal 106,810
Withdrawals -5,950
Carmen Camry capital account at the end of August 31th 100,860
Explanation:
We have to calculae the net income
Fees earned 26,960
office 5,200
rent expense 9,500
salaries expense 5,560
telephone expense 820
miscellaneous expenses 470
Total Expenses 21,550
Net Income 5,410
Then we do the equity stamtent:
beginning + investment + net income - withdrawals = ending
Equity at August 1st 0
adds: Carmen Camry Investment 101,4000
Net Income 5,410
Subtotal 106,810
Withdrawals -5,950
Carmen Camry capital account at the end of August 31th 100,860
Wow! If my boss is this generous, I will first thank him or her. After that, I will make a list of the office supplies I will need to be more productive at work. Note that not all supplies may be granted so don't keep your hopes up. The next thing I'll do is to have him acknowledge the list I made and thank him for giving me this opportunity.
So let us note what we have to do:
1) Thank your boss.
2) List down the office supplies you need.
3) Have your boss authorize the list and thank him or her once again.
