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3 years ago

To effectively run a business, it is necessary to:

1 answer:

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<span>It is important to understand how money and accounting principles work to effectively run a business. If these concepts are not understood and used correctly, the business will not have a high chance of surviving for a very long time.</span>

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Anthony currently earns $25 an hour and works 40 hours a week. When his boss offers to pay him $29 per hour, Anthony decides to

timofeeve [1]

Answer:

substitution and income effects will counteract each other totally

Explanation:

A labor supply curve is an economic analysis tool that shows the number or workers that are available to work or that can work at various wage rates.

The labor supply curve can either be bending backwards or sloping downwards or upward curving but it shows the relationship between labour and wage rates.

A labor supply curve can be affected by factors such as population, changes in social behaviour, opportunities in other markets, among other things.

From the above question, it is seen that a change in wage rate for Anthony from $25 to $29 does not affect his work hours positively of negatively. His work hours is the same despite the increase in hourly wage.

The effect of the Anthony sticking to 40 hours of work despite an increase in wage, which could have served as some motivation for him to put in more hours is his labor curve remains same. An increase in wage has done noting to affect the number of hours he works and as such his income vs work rate counters each other.

Cheers.

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3 years ago

When interacting with a small number of rival firms, a manager uses a?

vaieri [72.5K]

It is known as a Strategy. An association's methodology that joins the greater part of its advertising objectives into one extensive arrangement. A decent showcasing procedure ought to be drawn from statistical surveying and concentrate on the correct item blend keeping in mind the end goal to accomplish the most extreme benefit potential and maintain the business.

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3 years ago

PLEASE ANSWER QUICKLY

Paha777 [63]

Answer:

standards for the basic minimum wage and overtime pay

Explanation:

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3 years ago

On January 1, Year 3, Wayfarer Co.'s assets were $330,000 and its stockholders' equity was $146,000. During the year, assets inc

cricket20 [7]

Answer:

The Balance of stockholder's equity at December 31 Year 3 is $180000.

Explanation:

The basic accounting equation states that Assets are always equal to the sum of Liabilties and Equity.

Thus, the equation can be written as:

Assets = Liabilities + Equity

The libilities at the start of the year were,

330000 = Liabilities + 146000

Liabilities = 330000 - 146000 = $184000

If Liabilities at the end were 16000 less than at start, Closing balance of Liabilities will be 184000 - 16000 = $168000

The Closing balance of assets will be 330000 + 18000 = $ 348000

The closing balance of Stockholder's equity at Dec 31 Year 3 is:

348000 = 168000 + Equity

Equity = 348000 - 168000 = $180000

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3 years ago

Read 2 more answers

Castle Leasing Company signs a lease agreement on January 1, 2020, to lease electronic equipment to Jan Way Company. The term of

lisov135 [29]

Answer:

A. 01-01-2020

Dr Lease receivable $160,000

Dr Cost of goods sold $105,488

Cr Sales $145,488

Cr Inventory $120,000

12/31/20

Dr Cash $78,244

Cr Lease receivable $70,244

Cr Interest revenue $8,000

12/31/21

Dr Cash $78,244

Cr Lease receivable $73,756

Cr Interest revenue $4,488

B. Dec 31,2021

Dr Cash $ 16,000

Cr Sales revenue $ 16,000

Explanation:

Preparation of the journal entries

First step is to Compute the annual payments

Present Value of lease payment

Fair value $160,000

less: present value of residual value $14,512

(16000*0.90703)

Present value of lease payment $145,488

Annual lease payment (145488/1.85941) = $78,244

Present value of $ 1 at 5 % 2 periods = 0.90703

Present value of an ordinary annuity of $ 1 at 5 % 2 periods = 1.85941

Second step is to computer the Lease Amortization Schedule

CASTLE LEASING COMPANY (Lessor)

Lease Amortization Schedule

1/1/20 $160,000

12/31/20 $78,244 $8,000 $70,244 $89,756

12/31/21 $78,244 $4,488 $73,756 $16,000

12/31/21 $16,000 0 $16,000 0

12/31/20

($160,000*5%)=$8,000

$78,244-$8,000=$70,244

$160,000-$70,244=$89,756

12/31/21

($89,756*5%)=$4,488

$78,244 -$4,488=$73,756

$89,756-$73,756=$16,000

Lease Receivable = ($78,244 × 1.85941) + ($16,000 × 0.90703)

Lease Receivable = $160,000

Cost of Goods Sold = $120,000 - ($16,000 × 0.90703)

Cost of Goods Sold= $105,488

Sales Revenue = $160,000 - (16,000 × 0.90703) Sales Revenue = $145,488

Now let prepare the JOURNAL ENTRIES

A. Preparation of the journal entries on the books of Castle Leasing to reflect the payments received under the lease and to recognize income for the years 2020 and 2021.

01-01-2020

Dr Lease receivable $160,000

Dr Cost of goods sold $105,488

Cr Sales $145,488

Cr Inventory (given) $120,000

( To record lease )

12/31/20

Dr Cash $78,244

Cr Lease receivable $70,244

Cr Interest revenue $8,000

($160,000*5%)

(To record interest revenue for Dec 2020)

12/31/21

Dr Cash $78,244

Cr Lease receivable $73,756

Cr Interest revenue $4,488

(To record interest revenue for Dec 2021)

B. Preparation of the journal entry to record the sale on Castle Leasing's books.

Dec 31,2021

Dr Cash $ 16,000

Cr Sales revenue $ 16,000

( To record sale on castle leasing's books )

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3 years ago