Answer:
$1,330 per bike
Explanation:
the amount of revenue that Neakanie must recognize = total sales price x [price of the bike / (price of the bike + maintenance service)] = $1,900 x [$1,400 / ($1,400 + $600)] = $1,900 x 0.7 = $1,330 per bike
the journal entry should be:
Dr Cash 1,900
Cr Sales revenue - bike 1,330
Cr Prepaid maintenance services - bike 570
the prepaid maintenance service should be accrued during the year, and revenue must be recognize after each month passes.
Answer: A. No contribution can be made
Explanation:
Answer:
The correct answer is letter "A": The demand for flash drives is inelastic.
Explanation:
Elasticity refers to the characteristic of goods or services to change in quantity demanded in front of fluctuations in price. The demand elasticity is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the result is lower than one (1) the demand is inelastic implying changes in price do not change the quantity demanded of the good or service.
Then, <em>if the increase in the price of flash drives increases the expenditures on flash drives means that people are using more resources of their income to spend it on flash drives, thus, the quantity demanded for flash drives has remained the same or almost the same in front of the raise of prices. So, the demand for flash drives is inelastic.</em>
Scarcity is to not have enough resources to fullfil a societies wants and needs. The 3 basic questions a society must ask inorder to deal with this are. what to produce? how to produce? and, for whom to produce? whoever answers those questions is how I societies economic system is decided. Though to answer your question in short, the basic goal of a society is to deal with scarcity, they achieve this by producing as much resources as possible with the little resources available.
Answer and Explanation:
The computation is shown below:
a) The adjusted basis for the land and the building at the acquisition date is
Land = $100,000
Building = $400,000
We recognized the purchase price of land and building
b. And, the adjusted basis for the land and the building at the end of 2019 is
Land = $100,000
Building is
= $400,000 - $4,708
= $395,292
We considered the cost recovery for the computation above