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USPshnik [31]
3 years ago
14

Which of the following would not be used to pay for previous credit purchases under the periodic system?

Business
2 answers:
fenix001 [56]3 years ago
5 0

Answer:

Debit to Accounts payable ( A )

Explanation:

To pay for previous credit purchases made by a company it can be made by crediting the Accounts payable of the company or by converting the credit to cash payments to the company from whom the company purchased the goods.

Accounts payable is a liability account operated by a company to take care of all the credit purchase made by the company. crediting this account by the company will help offset previous credit purchases while debiting this accounts will leading to worsening the debit conditions of the company towards its suppliers hence this is a means of paying for previous credit purchases

Cerrena [4.2K]3 years ago
4 0
C. Credit to Accounts Payable
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Sharon and Amy are roommates. They spend most of their time studying (of course), but they leave some time for their favorite ac
Ratling [72]

Answer:

Explanation:

:

Sharon and Amy are roommates. They spend most of their time studying (of course), but they leave some time for their favorite activities: making pizza and brewing root beer. Sharon takes 4 hours to brew a gallon of root beer and 2 hours to make a pizza. Amy takes 6 hours to brew a gallon of root beer and 4 hours to make a pizza.  

a. What is each roommate’s opportunity cost of making a pizza?

Each room mates opportunity cost of making pizza is the beer they would have made with the time spent on making pizza which is

Sharon = 2/4 gallon of beer or 0.5 gallon of beer

Amy = 4/6 gallon of beer or 0.67 gallon of beer

Who has the absolute advantage in making pizza?  

Sharon arguably has absolute advantage because she has comparative advantage in producing both items because she spends less time producing both however she spends half the time of Amy in producing Pizza in particular

Who has the comparative advantage in making pizza?  

Sharon because she spends half the time of Amy in producing Pizza  

b. If Sharon and Amy trade foods with each other, who will trade away pizza in exchange for root beer? Amy will trade pizza for root beer because she has a greater disadvantage in Pizza production in relation to root beer when compared to Sharon. She spends double the time of Sharon in making Pizza but less than double the time of Sharon in making root beer

c. The price of pizza can be expressed in terms of gallons of root beer.  

Sharon = 2 hours/4 hours gallon of beer or 0.5 gallon of beer per pizza

Amy = 4 hours/6 hours gallon of beer or 0.67 gallon of beer per pizza

What is the highest price at which pizza can be traded that would make both roommates better off?  

That price should be lower than Amy's cost but higher than Sharon's cost, so they can both make profits. = (0.5+0.67)/2 = 0.585 gallon of root beer

What is the lowest price? Explain.

The lowest price will be the opportunity cost of Sharon which is 0.5 gallon of root beer because if the price is lower it becomes a loss to Sharon

3 0
3 years ago
Suppose you are trying to understand the effect that an increase in the price of grapes will have on the market for wine.
NemiM [27]

Answer:

The correct answer is option d.

Explanation:

The most effective model to understand the effect of change of a variable on other variable is by assuming other factors to be constant. This simplifies the model and helps in easily understanding the relationship between the two variables.  

Though the assumption of other things being constant does not apply in the real world, it is still used as otherwise change in other factors would complicate the model. If several factors change it would be difficult to understand the relationship between variables.  

Here, to study the effect of change in the price of grapes on the market for wine, it is necessary to assume other factors such as income, consumer preferences, etc to be constant.

4 0
3 years ago
Briefly define and give a specific example of:A.1.Scale economies in connection with urban economics (i.e., related to land use,
Shtirlitz [24]

Answer:

Explanation:

.1.Scale economies in connection with urban economics (i.e., related to land use,housing, or firm location)A.2.Pecuniary agglomeration economiesA.3.Technological agglomeration economiesA.4.Retail agglomeration economiesA.5.ExternalitiesA.6.ceteris paribus assumptionA.7.A numeraire goodA.8.An efficient allocation of resources

7 0
3 years ago
Indicate how each of the following transactions affects U.S. exports, imports, and net exports.
Oxana [17]

Answer:

 export               import                net export  

1. increases         unchanged         increases

2. unchanged       increases             decreases

3.  unchanged       increases             decreases

4. unchanged       increases             decreases

5. increases         unchanged         increases

Explanation:

export would comprise of goods and services produced in the US that are been sold to foreign countries

Import would comprise of foreign produced goods and services that are been sold in the US

Net export would increase when export occurs and decrease when import occurs

Net export = exports – imports

When the French historian visits the US museum and the European family visits Disney,  they are enjoying US services, thus export increases and net export increases

The purchase of books from Cambridge in UK, Panasonic camera and the visit to Japan constitutes import. These increases import and reduces net export

7 0
3 years ago
Held-to-maturity securities a.are reported at fair value. b.include equity securities. c.are not intended to be held until the m
Hitman42 [59]

Answer:

The correct answer is option D,held-to-maturity securities  include corporate notes and bonds.

Explanation:

Held-to-maturity securities are normally debt instruments purchased with aim of keeping them till maturity so as to collect the principal amount invested as well as the related interests,since they are not held for short-term gains,they are not reported at fair values.

Securities held for short-term to be realized in short-term are reported at fair values

4 0
3 years ago
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