Answer: c. decrease.
Explanation:
If the cost of operating airplanes increases on account of gasoline prices rising, it means that running an airline service would be more expensive.
In the long-run, there is zero economic profit as companies keep entering and exiting the market. If costs increase as they have done here, there will be an economic loss. Several firms will therefore exit in order to avoid these costs which would lead to the number of airlines decreasing.
When they decrease, prices will then go up till the economic profit is zero once more.
Answer:
$945.50
Explanation:
The computation of the weighted average is shown below:
Ending inventory = opening inventory + Purchase - Sales
= 85 + (290 + 195 + 50) - 315
= 620 - 315
= 305
Average cost per unit = (Beginning inventory units × price per unit + purchase inventory units × price per unit + purchase inventory units × price per unit ) ÷ (Beginning inventory units + purchase inventory units + purchase inventory units)
= (85 × $2.60 + 290 × $3.10 + 195 × $3.20 + 50 × $3.60) ÷ (85 + 290 + 195 + 50)
= ($221 + 899 + $624 + $180 ) ÷ (620)
= $1924 ÷ 620
= $3.1
Weighted average = Ending inventory × Average cost per unit
= 305 × $3.1
= $945.50
Answer:
there are no options and says which one of the following
Explanation:
I don't University
Answer:
debit Accounts Receivable $350 and credit Unearned Service Revenue $350.
Explanation:
Based on the information provided within the question it can be said that in order to correct this entry the bookkeeper needs to debit Accounts Receivable $350 and credit Unearned Service Revenue $350. This is because the $350 are coming into the account (debit), but since it is for a future service it also needs to be placed as credit Unearned Services.
