Answer:
The correct answer is letter "A": the ease with which an asset is converted to the medium of exchange.
Explanation:
The liquidity of an asset reflects the ease with which it can be transformed from investment to cash. Liquid assets are those that can be transformed easily to cash and see little or no difference in the value of the assets when transformed. Illiquid assets are more difficult to convert and can result in a major decrease in value once converted.
Answer:
a. preference
Explanation:
As in the question it is mentioned that the heather Green normally purchased heinz Catsup as she likes the taste but she decided to purchase another brand i.e. highly advertised also it was on sale and she really needs it
So here the Heinz achieved the preference as usually she purchased the Catsup product but sh purchased another product due to high advertisement
So the preference is shifted to another product
Therefore option a is correct
Answer:
$45.99
Explanation:
Calculation for the applied factory overhead per unit for the Great P model
First step is to Calculate the total direct labour cost of High F and Great P
High F $175,200
($10,000*$17.52)
Great P $210,240
($16,000*$13.14)
Total direct labour cost $385,440
Second step is to calculate the factory overhead rate
Using this formula
Factory overhead rate=Budgeted factory Overhead cost/Allocation base
Let plug in the formula
Factory overhead rate=$1,349,040/$385,440
Factory overhead rate=350%
Now let calculate factory overhead per unit for the Great P
Direct labor cost per unit of product Great P $13.14
Great P Factory overhead per unit =$13.14*350%
Great P Factory overhead per unit =$45.99
Therefore Using the firm's volume- based costing, applied factory overhead per unit for the Great P model is $45.99
Answer:
Debit Cash $110,000
Credit Land $100,000
Credit Gain on sale $10,000
Explanation:
On January 15, the partnership sold the land for $110,000, that is more than its cost of $100,000. In effect, the sale will result to a gain of $10,000 ($110,000 - $100,000). To record the said transaction, we must debit the cash that the partnership received in the amount of $110,000 and credit land $100,000 to remove it from the book and another credit to gain on sale in the amount of $10,000 to recognize the favorable sale.