Answer:
a. 12 times
b. 30.42 days
Explanation:
Data provided in the question
Sales = $4,560,000
Average account receivable = $380,000
So, The computation is shown below:
a. Account receivable turnover ratio is
= Sales ÷ average account receivable (net)
= $4,560,000 ÷ $380,000
= 12 times
b. Now the number of days sales in receivable is
= Total number of days in a year ÷ account receivable turnover ratio
= 365 days ÷ 12 times
= 30.42 days
Answer: 18,000
Explanation:
Liability policy:
= 2,000
Insurance expense 2018:
= No. of months from 1 Jan 2018 to 31 Dec 2018 × Insurance expense per month
= 12 × 2,000
= 24,000
Prepaid insurance balance for liability policy on 31 Dec, 2018:
= Prepaid Insurance for liability policy - Insurance expense 2018
= 36,000 - 24,000
= 12,000
Crop damage policy:
= 500
Insurance expense 2018:
= No. of months from 1 Jan 2018 to 31 Dec 2018 × Insurance expense per month
= 12 × 500
= 6,000
Prepaid insurance balance for crop damage policy on 31 Dec, 2018:
= Prepaid Insurance for crop damage policy - Insurance expense 2018
= 12,000 - 6,000
= 6,000
Therefore,
Total prepaid insurance balance on 31 Dec 2018:
= Prepaid insurance balance for liability policy on 31 Dec, 2018 + Prepaid insurance balance for crop damage policy on 31 Dec, 2018
= 12,000 + 6,000
= 18,000
Answer:
a. is more elastic than the monopolist's demand curve.
Explanation:
The correct option is a as of less control over the market price as compared to the monopolist
As the monopolist is the only seller in the market and the price maker too but the same is not happen with the monopolistic firm
Therefore the consumers would rise or decreased the demand as per the price
Hence, the correct option is a.
<span>The action in 2008 in which milk prices increased and one milk consumer stated that the reason he cut down on milk consumption is so that he could drive his car represents </span>movement along the demand curve for milk.
<span>Movement along the demand curve usually occurs when the manufacturer raises or lowers the price of the product.</span>
