What is the amount of money you still owe to their credit card company called

Larned Corporation recorded the following transactions for the just completed month. $80,000 in raw materials were purchased on

sesenic [268]

Answer and Explanation:

The Journal entry is shown below:-

a. Raw material Dr, $80,000

To Account payable $80,000

(Being purchase of raw material is recorded)

Here we debited the raw material as it increased the assets and we credited the accounts payable as it also increased the liabilities

b. Work in process Dr, $62,000

Manufacturing overhead Dr $9000

To Raw material $71,000

(Being raw material used is recorded)

Here we debited the work in progress , the manufacturing overhead as it increased the assets and expenses and credited the raw material as it decreased the assets

c. Work in process Dr, $101,000

Manufacturing overhead Dr, $11,000

To Cash $112,000

(Being paid to labor is recorded)

Here we debited the work in progress , the manufacturing overhead as it increased the assets and expenses and credited the cash as it decreased the assets

d. Manufacturing overhead Dr, $175,000

To Accumulated depreciation-Equipment $175,000

(Being manufacturing overhead is recorded)

Here we debited the manufacturing overhead as it increased the expenses and we credited the accumulated depreciation of depreciation as it reduced the assets

5 0

3 years ago

When a firm is given monopoly power, it loses its freedom of contract, and a governmental body is given the power to determine t

Pani-rosa [81]

Answer:

The government agency is providing basic and/or essential services that further deepen the interests of members of the public

Explanation:

The assertion that a firm with a monopoly power loses it freedom of contract is very true. Monopolies by its realities come with features that ultimately cater for the interests of the firm, instead of the consumers. One of these is charging an astronomical high price on a particular item of commodity, and not taking cognizance of the purchasing power of the public. A firm could to this, and ultimately get away because its the only delivering such services - the one with the enormous monopoly power. Here, there is no stiff competition among goods that may offer liberty of choices to ordinary consumers.

To mitigate these numerous power of monopolies, governmental body has been giving the power to regulate and maintain an oversight functions. They now determine the provisions of contracts. The main objective of government agency, thus, is to ensure a firm with a monopoly power considers the basic and essential interests of the members of the public - the end users. Here, members of the public are insulated from unnecesary exploitation by the monopolies.

7 0

3 years ago

A city government is considering two types of town-dump sanitary systems. Design A requires an initial outlay of $405 comma 00

SIZIF [17.4K]

Answer:

Desing A is a better deal as the equivalent annual cost is lower than desing B

Anywa, bot desing cost are above the city collections thus, it cannot afford the sanitary systems unless it raises taxes

Explanation:

Desing A

F0 405,000

operating and maintenance cost 51,000 for 14 years

Present value of the operating and maintenance cost:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C = $ 51,000.00

time = 14 years

rate = 0.07

$51000 \times \frac{1-(1+0.07)^{-14} }{0.07} = PV\\$

PV $446,018.8673

net worth: $ 851,081.87

equivalent annual cost:

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV 851,082

time 14

rate 0.07

$851081.87 \div \frac{1-(1+0.07)^{-14} }{0.07} = C\\$

C $ 97,316.904

Desing B

F0 251,000

operating and maintenance cost 89,000 for 14 years

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 89,000.00

time 14

rate 0.07

$89000 \times \frac{1-(1+0.07)^{-14} }{0.07} = PV\\$

PV $778,346.6507

net worth: $ 1,029,346.65

equivalent annual cost:

$1029346.65 \div \frac{1-(1+0.07)^{-14} }{0.07} = C\\$

C $ 117,700.580

5 0

3 years ago

Compared to a perfectly competitive firm, the demand schedule of a monopolistically competitive firm faces is:________

Volgvan

Compared to a perfectly competitive firm, the demand schedule of a monopolistically competitive firm faces downward-sloping demand curves.

A monopolistic market is a theoretical situation that describes a marketplace in which only one agency might also provide products and services to the public. A monopolistic market is the other of a perfectly competitive marketplace, in which an endless variety of companies function.

Monopolistic opposition exists while many businesses offer competing products or services which might be similar, but not best, substitutes. The barriers to access in a monopolistic competitive industry are low, and the choices of anyone firm do now not directly have an effect on its competition.

A monopoly has management over the supply of the product but though it can are seeking to influence the demand, it does not have management over it. In truth, a monopoly has to make a preference. it may set the price, but then it has to just accept the extent of income, consumers is prepared to buy at that fee.

Learn more about monopoly here: brainly.com/question/13113415

#SPJ4

5 0

1 year ago

What happens when the Federal Reserve puts money into the banking system

Anton [14]

When the Federal Reserve puts money into the banking system, short term interest rates fall because there is more capital in the system. This means that banks are willing to take more risks.

>>>The Federal Reserve System‍—‌also termed as the Federal Reserve or the Fed‍—‌is the central banking system of the United States.

4 0

3 years ago