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3 years ago

Changes in the price of oil:

Business

1 answer:

elixir [45]3 years ago

8 0

Answer:

c) created both inflation and recession in the United States in the 1970s.

Explanation:

the recession and inflation started from '72 and end up in the earlys '80 is considered the greatest failure of American macroeconomic policy in the postwar period.

It was the cause of 1973 oil crisis when the Arab countries made an oil embargo against nations perceived as supporters for israel. Amongs this nation was the USA, the UK and Canada. This make the oil price to rise up to 400% This situation made a market crash and then, US leave the gold standard Also, within this period, the industrial areas in the countries to re-structure to consume less oil as it was scarse

During the period about 3 million of jobs were lost and inflation made peak at 20% per year.

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Prepare an adjusted trial balance (LO3-3, 3-4) [The following information applies to the questions displayed below.] The Decembe

telo118 [61]

Answer:

1. December 31

Dr Rent expense 2,400

Cr Prepaid rent $2,400

2. Dr Deferred revenue $750

Service revenue $750

3. December 31

Dr Salaries expense $700

Cr Salaries payable $700

4. December 31

Dr Supplies expense $3,200

Cr Supplies $3,200

Explanation:

Preparation of Journal entries

1. Since Rent expense for 6 months is the

amount of $7,200 this means that the Rent expense for 2 months which is November and December will be calculated as 7,200 x 2/6

= $2,400 and recorded as :

December 31

Dr Rent expense 2,400

Cr Prepaid rent $2,400

( To record rent expense)

2. Based on the information given we were told that by year end the amount of $750 of the services have been provided which means that the Journal entry will be.

December 31

Dr Deferred revenue $750

Service revenue $750

( To record service revenue)

3. Based on the information given we were told that the an additional amount of $700 in salaries is owed to employees but will not be paid until January 4 which means that the Journal entry will be :

December 31

Dr Salaries expense $700

Cr Salaries payable $700

( To record salaries expense)

4. Since Supplies expense which is calculated as Beginning supplies 1,700+ Supplies purchases 2,300- Ending supplies 800 will gives us $3,200 the Journal entry for supplies will be recorded as :

December 31

Dr Supplies expense $3,200

Cr Supplies $3,200

( 1,700+2,300-800)

( To record supplies expense)

4 0

3 years ago

During 2021, its first year of operations, Pave Construction provides services on account of $160,000. By the end of 2021, cash

ArbitrLikvidat [17]

Answer:

1. December 31, 2021

Dr Uncollectible amounts $12,500

Cr Allowance uncollectible amounts $12,500

2a. Dr Allowance uncollectible amounts $10,000

Cr Accoutns receivables $10,000

2b $2,500

Explanation:

1. Preparation to Record the adjusting entry for uncollectible accounts on December 31, 2021.

December 31, 2021

Dr Uncollectible amounts $12,500

Cr Allowance uncollectible amounts $12,500

[($60,000-$110,000)*25%]

(To record allowance)

2a. Preparation of the journal entry to Record the write-off of accounts receivable in 2022

Dr Allowance uncollectible amounts $10,000

Cr Accoutns receivables $10,000

(To Record the write-off of accounts receivable in 2022)

2b. Calculation to determine the balance of Allowance for Uncollectible Accounts at the end of 2022

Balance of the allowance accounts=[ 60,000-110,000)*25%] -$10,000

12,500 - 10,000 = 2,500

allowance uncollectible amounts 15,000 debit

accoutns receivables 15,000 credit

--to record write-off 2022--

8 0

3 years ago

The liabilities of Wildhorse Company are $113,000 and the owner’s equity is $235,000. What is the amount of Wildhorse Company’s

kirill [66]

Answer:

$122,000

Explanation:

i dont know i just subtracted ¯\_(ツ)_/¯

8 0

3 years ago

A paint manufacturer has a uniform annual demand for 16,000 cans of automobile primer. It costs $4 to store one can of paint for

Luda [366]

Answer:

B) The company should have 8 production runs each year

Explanation:

Given :

Uniform annual demand, = 16000

Total cost, C = 500y + 2x

xy = 16000

$x = \frac{16000}{y}$

Let's substitute $\frac{16000}{y}$ for x in C.

Therefore, we have :

$C = 500y + 2( \frac{16000}{y} )$

$C = 500y + \frac{32000}{y}$

In order to minimize the total storage and setup costs,

Differentiating wrt y:

$C = C_m_i_n, \frac{dc}{dy}=0$

$C'(y) = 500y + \frac{32000}{y^2} = 0$

$y^2 = \frac{320}{5} = 64$

$y = \sqrt{64} = 8$

In order to minimize the total storage and setup costs, the company should have 8 production runs each year

6 0

3 years ago

At the beginning of the recent period, there were 1,050 units of product in a department, 35% completed. These units were finish

White raven [17]

Answer:

Answer for the question:

At the beginning of the recent period, there were 1,050 units of product in a department, 35% completed. These units were finished and an additional 5,500 units were started and completed during the period. 1,000 units were still in process at the end of the period, 25% completed. Using the weighted average method, the equivalent units produced by the department were__________.

Is given in the attachment.

Explanation:

3 0

4 years ago