Answer:
Janine is an accountant who makes $30,000 a year. Robert is a college student who makes$8,000 a year. All other things equal, who is more likely to stand in a long line to get a cheap concert ticket?
Robert; his opportunity cost is lower
Explanation:
Robert has loss of potential gain from the alternative available, his low income will made him to queue in order to get the concert ticket
Answer:
Dr mortgage payable $635.52
Dr interest expense $641.67
Cr cash $1,277.19
Explanation:
The first repayment made on the mortgage is $1,277.19,this amount can be broken into interest payment on the mortgage as well as the repayment of the principal of $110,000.
interest for first month=$110,000*7%*1/12=$641.67
Invariably the payment made comprises of $635.52 ($1,277.19-$641.67) principal repayment and interest payment of $641.67
The entries would to debited mortgage payable with $635.52 and interest expense with $641.67 while cash is credited with $1,277.19
Answer:
Health reimbursement account
Explanation:
The health reimbursement account is a type of health benefit plan which is funded by the government of the US.
In this benefit plan, the government reimburses the medical expenses that have been paid by the employer from his earnings.
Also, in some cases, the government pays the premium of the health insurance.
Answer:
12
Explanation:
At the price of $24, the demand is 36
At the price of $30, the demand is 24
change in quantity demanded
= 36-24
= 12