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3 years ago

When a group provides a collective good or service, ______. select one:

1 answer:

8 0

The group can divide costs to each person providing the good when this group provides a collective good or service. By definition, a collective good or service are considered as goods and services that are provided and are readily available to the community. Examples of these are the health cares provided by the government.

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Flint Inc. has decided to purchase equipment from Central Michigan Industries on January 2, 2017, to expand its production capac

ddd [48]

Answer:

Please see the answers below:

Explanation:

Debit: Equipment $912,000

Credit: Notes Payable $912,000

To record purchase of equipment at zero interest bearing note Central Michigan.

Debit: Notes Payable $182,400

Debit: Interest Payable $20,064

Credit: Cash $202,464

To record Cash Payment of 1st year Installment and Interest.

Debit: Notes Payable $182,400

Debit: Interest Payable $20,064

Credit: Cash $202,464

To record Cash Payment of 2nd year Installment and Interest.

Debit: Depreciation Expense $91,200

Credit: Accumulated Depreciation $91,200

To record Depreciation Expense on Equipment over the life of 10 years with no salvage value. (Straight Line Depreciation is employed).

6 0

3 years ago

Determining Financial Effects of Transactions Affecting Current Liabilities with Evaluation of Effects on the Debt-to-Assets Rat

tiny-mole [99]

Answer:

Accounts, Amounts, and Effects on the Accounting Equation:

Apr. 30 Assets increase (Cash +$876,000) = Liabilities increase(Promissory note payable (Commercial Bank) +$876,000) + Equity

June 6 Assets increase (Inventory +$98,000) = Liabilities increase (Accounts payable +$98,000) + Equity

July 15 Assets decrease (Cash -$98,000) = Liabilities decrease (Accounts payable -$98,000) + Equity

Aug. 31 Assets increase (Cash +$35,500) = Liabilities increase (Deferred Revenue +$35,500) + Equity

Dec. 31 Assets = Liabilities increase (Salary and wages payable +$63,000) + Equity decrease (Retained earnings (Salary and wages expenses) -$63,000)

Dec. 31 Assets = Liabilities increase (Interest payable +$49,640) + Equity decrease (Retained earnings (Interest Expense) -$49,640)

Dec. 31 Assets = Liabilities decrease (Deferred Revenue -$23,667) + Equity increase (Retained earnings (Security Service Revenue) +$23,667)

Explanation:

a) Data and Analysis:

Apr. 30 Cash $876,000 12-month, 8.50 percent, Promissory note payable (Commercial Bank) $876,000

June 6 Inventory $98,000 Accounts payable $98,000

July 15 Accounts payable $98,000 Cash $98,000

Aug. 31 Cash $35,500 Deferred Revenue $35,500

Dec. 31 Salary and wages expenses $63,000 Salary and wages payable $63,000

Dec. 31 Interest Expense $49,640 Interest payable $49,640 ($876,000 * 8.5% * 8/12)

Dec. 31 Deferred Revenue $23,667 Security Service Revenue $23,667

4 0

3 years ago

Minimum-wage laws can keep wagesa.a) above equilibrium and cause a surplus of labor.b) above equilibrium and cause a shortage of

Airida [17]

Answer:

The correct answer is option a.

Explanation:

Minimum wages can be defined as the minimum level of wages that an employer is supposed to pay to workers for their work. It cannot be reduced through an individual contract or collective agreement.

Minimum wages are fixed above the equilibrium level of wages. At this level, the demand for labor is lower while supply is more because of high wages. This creates surplus labor in the market.

4 0

3 years ago

The allocatively efficient quantity of product Z for the whole market is 2 million units. At that quantity, the demand for Z is

makkiz [27]

Question Completion:

ANSWER CHOICES

A. operating with decreasing returns to scale

B. a natural monopoly

C. a legal monopoly

D. monopolistically competitive

E. productively efficient

Answer:

Based on this data, the market for product Z is:

A. operating with decreasing returns to scale.

Explanation:

For the Average Revenue (Price) to equal the Average Total Cost (ATC) and enable the firms operating in the market to break-even, the firms must increase their production units from 2 million to 3.5 million units. The conclusion that the market for product Z is operating with decreasing returns to scale for a single supplier is because it will take a 75% increase in production for the average total cost to fall from $7 to $5 for the single producer. In other words, the percentage increase in production does not result in a proportionate decrease in average total cost.

3 0

3 years ago

Some investment projects require that a company increase its working capital. Under the net present value method, the investment

zzz [600]

Answer:

Both an initial cash outflow and future cash inflow

Explanation:

Net value cash flow is the different cash flows that happens at different times. It takes into account the initial cash outflow or capital investment and the amount that it would be getting in the future that is the future cash inflow.

The net present value gives us a difference between cash inflows and cash outflows in their present values over a period of time.

3 0

3 years ago