True. This is one of the most basic economic concepts which you should recite by heart.
Answer:
$31 million
Explanation:
The computation of the amount of cash paid to suppliers of merchandise during the reporting period is shown below:
= Costs of goods sold + increase in inventory - increase in accounts payable
= $33 million + $3.8 million - $5.8 million
= $31 million
The Costs of goods sold + increase in inventory is also known as purchase of inventory
Answer:
B) $647.47
Explanation:
The initial closing date was set for May 1st, but due to a problem with the buyer, it was moved to May 10th but that date was accepted by the seller. This means that the buyer should be responsible for the property taxes starting May 10th.
Property taxes per day = $1,832 / 365 days = $5.02 per day
Susan is responsible for paying 31 days in January, 28 days in February, 31 days in March, 30 days in April, and 9 days in May = 129 days x $5.02 = $647.47
The buyer is responsible for $1,184.53 in property taxes.
Money is a kind of asset in an economy that is castoff to purchase goods and amenities from other people. A commodity is a physical thing that is willingly substitutable with one more item of the same type. Commodity money is a commodity that has intrinsic value. Intrinsic value is the commodity has worth though it is not used as money. So the answer is a woman offers her neighbor a US silver dollar in exchange for a bicycle.
Answer:
11,000
Explanation:
The breakeven point is the number of units that must be sold such that the total sales becomes equal to the total cost. The total cost is made of the fixed and variable cost.
Given
selling price = $15.00 per unit
Fixed expenses total = $51,000 per year
Breakeven units = 8500
let the variable cost per unit be y
15(8500) = 8500y + 51000
8500y = 127500 - 51000
y = 76500
/8500
y = $9
To make a profit of $15,000, let required sales unit be T
15T - (51000 + 9T) = 15000
6T = 15000 + 51000
6T = 66000
T = 11,000
To make a profit of $15,000, sales in unit must be 11,000
