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andriy [413]
3 years ago
13

Nicki paid $900 for a camera that she thought was worth $1100 for all the features included in it. for the consumer electronics

firm selling the camera, however, the cost of producing the camera was only $350. what is the consumer surplus in this scenario?
Business
1 answer:
FinnZ [79.3K]3 years ago
7 0

Consumer surplus is difference between the amount that consumers are willing and able to pay for a good or service

In this case, Nicki is willing to pay $1,100 for the camera, but she is only asked to pay 900. So Nicki has a consumer surplus of $200

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After retiring from Jones Corp., a partnership founded by Megan Jones and other partners, Megan grew tired of staying at home an
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Answer:

The Correct option is <u>"B"</u>

Explanation:

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Pell Company acquires 80% of Demers Company for $500,000 on January 1, 2010. Demers reported common stock of $300,000 and retain
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Answer:

$74,400

Explanation:

Pell Company

Pell's income from Demers for the year ended December 31, 2010

Controlling Interest Share of Net Income for 2010- Excess Fair value Annual Amortization

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8 0
3 years ago
Salvia Company recently purchased a truck. The price negotiated with the dealer was $42,500. Salvia also paid sales tax of $2,50
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Answer:

$48,500

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Sales tax on the purchase $2,500

shipping and preparation costs $3,500

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A business issued a 90-day, 9% note for $70,000 to a creditor on account. Illustrate the effects on the accounts and financial s
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Answer:

The computation is shown below:

Explanation:

The journal entries are shown below:

a. Account payable $70,000

           To Notes payable $70,000

(Being the issuance of the note is recorded)

b. Note payable $70,000

  Interest expense $1,575

              To Cash $71,575

(Being the payment of the note at maturity date including interest is recorded)

The computation is shown below:

= $70,000 × 9% × 90 days ÷ 360 days

= $1,575

We assume 360 days in a year

Now the effects on the accounts and the financing statement for issuance of the note is shown below:

Balance sheet

Assets          =   Liabilities   + Stockholder equity    Income statement  cash flow statement

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                   Note payable + $52,000      

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