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riadik2000 [5.3K]
3 years ago
8

Jan pays $70 each month for her auto insurance policy. This regular payment is called a

Business
1 answer:
PilotLPTM [1.2K]3 years ago
4 0
EVEN I KNOW THIS ONE. A MONTHLY PAYMENTTT
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Geraldine Parker, the owner of Gi Grs Dance Studio, Inc., started the business by investing $10,000 cash and donating a building
lesantik [10]

Answer:

The correct option is B,common stock 30,000 cash 10,000 and building 20,000

Explanation:

Geraldine Parker's contributions  to the business -that is both cash and building are seen as his capital invested in the business.Invariably, it is assumed the new business owes Geraldine Parker the worth of resources invested

Appropriate double entries for the transaction  are shown below

Dr Cash              $10000

Dr Building          $20000

Cr Capital                           $30000

This is the capital as at the start of the business,it is also possible that Geraldine Parker contributes additional capital which adds to existing capital.

Also,the profits made increases the stake of the owner in the business and drawings  should e deducted from the capital  in case the owner withdraws cash or goods from the business.

6 0
3 years ago
Harrison Ford Company has been approached by a new customer with an offer to purchase 10,000 units of its model IJ4 at a price o
pychu [463]

Answer:

If the offer is accepted, the income will decrease in $7,500.

Explanation:

Giving the following information:

Harrison Ford Company has been approached by a new customer with an offer to purchase 10,000 units of its model IJ4 for $5 each.

Unitary variable cost:

Direct Materials= $1.75

Direct Labor= $2.50

Variable Overhead= $1.50

1) Because it is a special offer and there is unused capacity, we will not have into account the fixed costs.

Accepting the offer:

Relevant cost= Unitary variable cost

Relevant cost= 1.75 + 2.5 + 1.50= $5.75

Relevant benefits= $5

2) Effect on income= 10,000*5 - 10,000*5.75= -$7,500

If the offer is accepted, the income will decrease in $7,500.

3 0
3 years ago
The price of compact fluorescent light bulbs fell because of improvements in production technology. As a result, the demand for
eimsori [14]

Answer:

c. The statement is false because the demand for incandescent light bulbs would increase as the price of compact fluor. light bulbs fell.

Explanation:

If improvements in production technology reduce the price of incadescent light bulbs, the normal thing that would happen is that demand for this good would increase, because now people will be able to buy the good at a lower price.

4 0
3 years ago
34. Which of the following statements is correct? a. If oligopolists successfully collude, then their combined output will be eq
grandymaker [24]

Answer:

The correct answer is option d.

Explanation:

If oligopolists are able to collude successfully, they will be able to fix price and output similar to a monopoly.

In order to maximize profits, the oligopoly firms keep their prices higher than a perfectly competitive firm but lower than monopoly. The output level is kept higher than a monopoly firm but lower than a perfectly competitive firm.

5 0
3 years ago
Joseph buys a Hummer for $59,000, financing it with a five-year 7.60% APR loan paid monthly. He decides to pay an extra $50 per
Alex Ar [27]

Answer:

57.07 months.

Joseph must decide whether the 57th payment was $1,327, or he can pay a 58th payment of just $92.

Explanation:

The easiest way to calculate a monthly payment is using a payment calculator:

  • principal = 59,000
  • n = 60
  • APR = 7.6%

Monthly payments = $1,185.04

Since Joseph will pay an extra $50 each month, his payment = $1,235.04

By paying that extra amount Joseph will reduce his payments by almost 3 months to 57.07 months

After the 57th payment, Joseph' balance = $91.43, so he can decide to pay a little on the 57th payment or just pay $92 next month.  

7 0
3 years ago
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