The situation where one person's demand for a good depends on the consumption of the good by others is called a

During 2004 Elway Corporation transferred inventory to Howell Corporation and agreed to repurchase the merchandise early in 2005

Svet_ta [14]

Answer:

d. Product financing arrangement.

Explanation:

A business transaction in which an organization sells and agrees to repurchase inventory with the repurchase price equal to the initial or original sales price plus the carrying and financing costs is known as the Product financing arrangement.

A product financing arrangement is more likely to exist when the seller commits to having a third party client purchase the item and then agrees to repurchase the item from the third party client.

It's noteworthy to know, that the seller controls how the item sold under either of the above mentioned situations is analysed and disposed of.

6 0

3 years ago

Shen spends $200 to purchase legal service from Rowan and Martin Associates. Valerie spends $8 to order a mojito cocktail. Shen

Vladimir [108]

Answer:

(1) Shen spends $200 to purchase legal service from Rowan and Martin. Associates - Dollars

(2) Valerie spends $8 to order a mojito cocktail - Dollars.

(3) Shen earns $375 per week working for Little Havana - Inputs.

Explanation:

(1) & (2) statements in the "Answer" above are purchase on cash transactions. Hence, they imply the flow of dollars from the household to the firm.

(3) statement in the "Answer" above implies giving of factor input labor services by Shen to Little Havana. Hence, it indicates the flow of inputs from the household to the firm.

4 0

3 years ago

Riverbed Company designated Jill Holland as petty cash custodian and established a petty cash fund of $236. The fund is reimburs

11Alexandr11 [23.1K]

Answer:

The journal entry is shown below:

Explanation:

According to the scenario, the journal entries for the given data are as follows:

Petty cash A/c Dr $236

To Cash A/c $236

(Being establishment of the fund is recorded )

Office supplies A/c Dr $94

Misc. Expense A/c Dr $89

Cash Over / Short Dr $22 ( $236 - $31 - $89 - $94)

To Cash A/c $205 ( $236 - $31)

(Being Reimbursement of the fund is recorded)

5 0

3 years ago

List one thing you SHOULD do if your car loan suddenly becomes too expensive.

Sphinxa [80]

Answer:

Modify Your Auto Loan.

Refinance Your Vehicle Loan.

Trade-in Your Car.

Let Someone Else Assume Your Loan.

Sell Your Vehicle.

Turn the Keys In.

Let Your Car Be Repossessed.

File for Bankruptcy.

5 0

3 years ago

In its Department R, Recyclers, Inc., processes donated scrap cloth into towels for sale in local thrift shops. It sells the pro

HACTEHA [7]

Answer:

Units to be accounted for:

Beg WIP 300 units

started 2700 units

Total 3,000 units

Equivalent units

physical materials conversion

tranferred 2,850 2,850 2,850

ending 150 150 (20%) 30

total 3,000 2,700 2,880

Cost to be accounted for:

materials conversion

beg WIP 0 576

incurred 0 10,800

Total 0 11,376

Equivalent unis cost

materials zero

conversion: $11,376 / 2,880 = $3.95

Cost assigned for:

Transferred units

2,850 units x 3.95 = 11,257.5

ending work in process units

30 units x 3.95 = 118.5

Total cost to be assigned for 11,376

Notice: Total cost to be asisgned for and assigned cost are the same.

Explanation:

1) We count the physical units

2) Then, we solve for the equivalent units which, under weighted average are:

transferred units + completion on ending work in process.

3) Now, we solve for equivalent unit cost:

for materials, this is zero are there is no cost associaed with.

4) Finally, we made the cost assignment which, should match the beginning WP cost and the incurred cost during the period.

8 0

3 years ago