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3 years ago

This test that albert chong and his colleagues carried out was most relevant for evaluating the

1 answer:

vladimir2022 [97]3 years ago

8 0

This test that Albert Chong and his colleagues carried out was most relevant for evaluating the allocative efficiency of these postal services because the test was designed to measure how often and how quickly the letters sent were returned to sender.

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(a) Purchased $110 of supplies for cash. –$110 $0 (b) Recorded an adjusting entry to record use of $20 of the above supplies. en

miss Akunina [59]

Question Completion:

Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income.

Answer:

Effects of transactions on cash and net income:

(a) Purchased $110 of supplies for cash.

Cash–$110 Net income $0

(b) Recorded an adjusting entry to record use of $20 of the above supplies.

Cash - $0 Net Income -$20

Cash -$0 Net Income +$1,500

(d) Received $850 from customers in payment of their accounts.

Cash +$850 Net Income $0

(e) Purchased equipment for cash, $2,550.

Cash -$2,550 Net Income $0

(f) Recorded depreciation of building for period used, $740.

Cash $0 Net Income -$740

Explanation:

As stated earlier, business transactions that affect earnings do not necessarily affect cash. This fact is demonstrated in the above examples. Unless the transaction is for cash and affects a revenue or expense account, it will not affect cash and earnings at the same time. An example of a transaction that affects both is the sale of goods for cash. This will increase the cash balance as well as boasting the earnings. Another example is the cash payment for rent expense. This will reduce the cash balance as well as reduce the earnings.

6 0

3 years ago

Sony introduces a new compact music player to compete with Apple's iPod that carries a two-year warranty against manufacturer's

iris [78.8K]

Answer: $651,000

Explanation:

From the above question, Apple's iPod carries a two-year warranty against manufacturer's defects.

warranty costs are expected to be approximately 3% of sales.

Total sales are $30.7 million, and actual warranty expenditures are $270,000.

Total warranty cost = $30.7 million x 3% = $921,000

During the 1st year only $270,000 of warranty expenses was made.

Therefore the company will carry as liability at the end of the year a total of $921,000 - $270,000 = $651,000

3 0

3 years ago

Suppose Germany, a large country, imposes a tariff on tuna imports. Before the tariff, all the countries in the world are engage

Ede4ka [16]

Answer:

1. This is true.

The Germans will pay a higher price for tuna because the tariff will increase the price of imported tuna and the reduction in completion with the local producers will lead to higher prices as the local producers take up their price.

2. This is true.

German producers no longer have to compete as much with imported tuna which was cheaper. They will therefore be able to raise their prices.

3. This statement is false.

The world price of Tuna DOES NOT increase because the tariff is only applicable in Germany. Other parts of the world will trade tuna as before. This is what is assumed.

4. This statement is true.

If Vietnam was exporting tuna to Germany, they will become worse off because they will see a decline in demand for their tuna on account of the tariffs making the tuna more expensive.

5. This is false.

Vietnamese tuna consumers will still pay the same price to get tuna because Vietnam produces the tuna. It is Vietnam's producers that will suffer not the consumers.

5 0

3 years ago

When one firm is able to dominate the market and no other firm is able to enter the market, a(n) ______________ has formed.

matrenka [14]

B. Monopoly is the correct answer

3 0

3 years ago

margo borrows $800, agreeing to pay it back with 5% annual interest after 7 months. how much interest will she pay?

Gala2k [10]

Answer:

Explanation:

800 * 5% * (7/12) = 23.333

dividing 7 by 12 coz there r 12 months in a year and she is paying for 7.

7 0

1 year ago