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3 years ago

As consumers, we have to make decisions because ?

1 answer:

4 0

Answer: As consumers, we have to make decisions because our wants are <em><u>unlimited but our resources are limited</u></em>. Since you have two of the same choices, I am assuming there is a typo and this is the choice that should be there.

Explanation:

As a consumer, there is so much that can be bought but financially most people can't afford everything. When buying an item, it is up the consumer to determine if they can afford the item or go without it. Sometimes, we buy the item even though we can't afford it and then regret the purchase. To satisfy a persons wants, a budget must be in place to be able to save money to purchase items.

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In 2021, it was discovered that Hines 55 had debited expense for the full cost of an asset purchased on January 1, 2018. The cos

Brut [27]

Answer:

A) A credit to accumulated depreciation of $14.4 Million

Explanation:

The complete journal entry should be:

Dr Asset XXX account 24,000,000
Cr Accumulated Depreciation account 14,400,000
Cr Retained Earnings account 9,600,000

First of all the asset must be recorded at full value.

Accumulated depreciation would be credited for 3 years = ($24 / 5) x 3 = $4.8 x = $14.4

Since the depreciation expense lowered the net profits during 2018, the retained earnings must be adjusted for the remaining value = $24 - $14.4 = $9.8

5 0

3 years ago

Trek Cycles estimates the production of the model X-1 will incur an overhead of 150,000 machine hours and cost $30,000. It takes

Lelechka [254]

Answer:

Unitary cost= $11.2

Explanation:

Giving the following information:

Estimated overhead= $30,000

Estimated machine-hours= 150,000

It takes 6 machine hours per bicycle, a direct material cost of $5 per bicycle, and direct labor of $5 per bicycle.

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 30,000/150,000

Predetermined manufacturing overhead rate= $0.2 per machine hour

Now, we can determine the unitary cost:

Unitary cost= 5 + 5 + 0.2*6= $11.2

3 0

3 years ago

Imagine that two goods are available to you: servants (X) and robots (Y). You like servants three times as much as robots. If yo

Andrej [43]

Answer: 3

Explanation:

The marginal rate of substitution simply means the rate at which one good will be exchanged for another good based on the current market price.

Since you like servants three times as much as robots, this implies that the utility that one gets from one servant is exactly like the utility that will be gotten from three robots.

Therefore, the utility function will be:

U = 3X + Y

Then, the marginal rate of substitution will be:

= MUX/MUY

= 3

4 0

3 years ago

On January 1, 2020, Morgan Enterprises issued 8%, 20-year bonds with a face amount of $5,000,000 at 101. Interest is payable ann

adell [148]

Explanation:

The journal entries are shown below:

1. Cash A/c Dr $ 5,050,000

To Bonds payable A/c $5,000,000

To Premium on Bonds payable A/c $50,000

(Being bond is issued)

2. Interest Expense A/c Dr $3,97,500

Premium on bonds payable A/c $2,500 ($50,000 ÷ 20)

To Interest payable A/c $400,000 ($5,000,000 × 8%)

(Being the interest expense is recorded)

7 0

3 years ago

What are the different components that electronic banking provides?

Veseljchak [2.6K]

Electronic banking provides safety of your money, and allows you to monitor transactions.

4 0

2 years ago

Read 2 more answers