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4 years ago

The following selected transactions were completed by Capers Company during October of the current year:

Business

1 answer:

Zarrin [17]4 years ago

7 0

Answer:

Date Accounts title and explanations Debit$ Credit$

1-Oct Merchandise inventory 15458

Accounts payable - Sabol imports 15458

3-Oct Merchandise Inventory 9850

Accounts payable- Saxon Co. 9650

Cash account 200

4-Oct Merchandise Inventory 13550

Accounts payable- Schnee Co. 13550

6-Oct Accounts payable -Schnee Co 4350

Merchandise inventory 4350

13-Oct Accounts payable-Saxon Co 9650

Cash account 9457

Merchandise inventory 193

(9650*2%)

14-Oct Accounts payable-Schnee Co 9200

Cash account 9016

Merchandise inventory 184

(9200*2%)

19-Oct Merchandise inventory 27270

Accounts payable - Southmont Co 27270

19-Oct Merchandise inventory 375

Cash account 375

20-Oct Merchandise inventory 21400

Accounts payable -Stevens 21400

30-Oct Accounts payable-Stevens 21400

Cash account 21186

Merchandise inventory 214

(21400*1%)

31-Oct Accounts payable-Sabol imports 15458

Cash account 15458

31-Oct Accounts payable -Southmont Co 27270

Cash account 27270

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Given:

If Good C increases in price by 30% a pound.

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What is the cross-price elasticity of the two goods ?

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We can find the cross-price elasticity of the two goods by this formula:

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