Answer:
The market for tennis shoes is in equilibrium. If the government increases business taxes, then we would expect to see a decrease in supply.
Explanation:
When a market is in equilibrium, a situation occurs in which the quantity demanded and the quantity supplied are the same, with which there is neither a surplus nor a shortage in supply and demand.
Now, in the event of an increase in taxes that would increase the cost of production and the final price of the product, the quantity supplied will tend to decrease, since a smaller quantity of products will be produced for the same amount. Likewise, the final price will tend to rise, with which demand will also fall, finding a new equilibrium point.
Answer:
100 items need to be counted each day.
Explanation:
Of the 6,800 items, 544 are A items (0.08 * 6,800), 2,244 are B items (0.33 * 6,800) and 4,012 are C items (0.59 * 6,800). If you want to count every day the same number of items, you have to divide the number of items A, B and C for the days between being counted twice. So, if you have to count each day a number of items A, the amount is 544/19 working days, that is 28.6315789. The same with B (2,244/60 = 37.4) and with C (4,012/118 = 34). Each day, you have to count 28.63 A plus 37.4 B plus 34 C. 28.63+37.4+34=100.03.
Answer:
-The forgone revenues that could be earned by renting the coffee shop out for other events during evening hours
- The costs involved with the increased usage of utilities, such as electricity and gas, during evening hours
- Training costs for new and existing employees on beer and wine serving procedures
Explanation:
Cost such as cost of landscaping the lawn outside and the cost of purchasing wine and beer to serve to customers are costs that tend to be incurred from operating the coffee shop, regardless of whether the beer and wine experiment is undertaken which is why these costs are not among the hidden costs of the coffee shop decision.
Therefore any cost which is not taken into account and which as well varies with the consequences of a decision is what we called HIDDEN COST.
Hence Costs such as increased utility usage due to the increased numbers of hours of operation, forgone revenues of renting out the space of the coffee shop and the costs of training new and existing employees in how to serve beer and wine are all costs that is been incurred due to the decision to extend hours and serve beer and wine.
Answer:
a. Accounts Payable: B
b. Cash: B
c. Common stock: B.
d. Account Receivables: B
e. Rent expenses: I
f. Service revenue: I
g. Office supplies: B
h. Dividends: RE
i. Land: B
j. Salaries Expenses: I
Explanation:
a. Accounts Payable: I
It is recorded in the Liability part to showed amount owed to suppliers.
b. Cash: B
It is recorded in the Current Asset part to show amount of cash on hand and in bank.
c. Common stock: B
It is recorded in the Owner Equity part to show Owner's capital contribution
d. Account Receivables: B
It is recorded in the Asset part to show amount owed from customers.
e. Rent expenses: I
It is recorded in the expenses part of income statement.
f. Service revenue: I
It is recorded in the revenue part of income statement.
g. Office supplies: B
It is recorded in the current asset part of the Balance Sheet statement to show how much office supplies is not consumed/ fully consumed.
h. Dividends: RE
It is recorded in the Statement of Retained Earnings to show dividend paid out in the reporting period.
i. Land: B
It is recorded in the Non-current Asset part of the balance sheet to show Book value of land possession.
j. Salaries Expenses: I
It is recorded in the expenses part of income statement.
