Answer:
a. What do Maahir's indifference curves for shampoo and conditioner look like?
When two goods are perfect complements, their indifference curve will be L-shaped. When two goods are perfect substitutes, their indifference curve will be a straight line with a -1 slope.
b. Assume that shampoo costs $0.40 per pump and conditioner costs $0.20 per pump. If Maahir's budget for shampoo and conditioner is $12, use the space below to write the equation for his budget constraint.
0.4S + 0.2C = 12
S = C
the optimal bundle = 12 / 0.6 = 20 pumps of shampoo and 20 pumps of conditioner
Explanation:
Answer: $343565
Explanation:
The cost of the land to be reported on the balance sheet goes thus:
Initial cost of land = $32000 + $282000 = $314000
Add: Legal fee = $2465
Add: Deliquescent charges = $11800
Add: Building demolition = $20000
Total = $348265
Less: Material savaged = $4700
Cost of land = $343565
The cost of the land is $343565
The answer is false. There are a lot of ways and best methods of maximizing profitability but cutting cost is not the best method because it will likely minimize the profit because the cost are being cut down. That is why the answer would likely be false because it is not the best method.
Democratic Leadership or perhaps Meritocracy
Answer:
The answer is C.
Explanation:
Credit sales is $6,000
Bad debt is 3% of net credit sales which is $180($6,000 x3%)
Creating allowance for doubtful debt entry is one of the prudent method and it tells us that some customers won't pay part of what they are owing. And it is also a contra account that offset bad debt.
According to the accounting rule, debit increases asset and expenses and vice-versa while credit decreases liability, equity, income and vice versa.
So we have have:
Dr Bad debt expense $180
Cr Allowance for Doubtful Accounts $180
