Answer: The correct answer is "C. produce because revenue of $1 comma 000 is greater than fixed costs.".
Explanation: The firm should produce because the revenue of 1000 is enough to cover the fixed costs and part of the variables (1000 - 800 - 600 = (-400)) so that the loss is less than if it stopped producing despite the avoidable costs (800 - 350 = 450) since if it stopped producing it would have a loss of $ 450 and producing it would have a loss of $ 400.
Answer and Explanation:
The journal entry is shown below:
Delivery expenses Dr $56
Merchandise inventory Dr $179
Miscellaneous expenses $25
To Cash $260
(Being the reimbursement of the account is recorded)
For recording this we debited all expenses and credited the cash as it increased the expenses and decreased the assets
Answer:
31 Dec 2021 Interest Expense $667 Dr
Interest Payable $667 Cr
Explanation:
The bond will pay the interest at maturity. However, following the accrual basis of accounting requires to match the revenue and expenses for a period and requires such transactions to be recorded in their respective periods. The year end adjusting entry will be made on 31 December 2021.
The interest expense for the period from August to December, 5 months, will be recorded on 31 December 2021 as interest expense and credit to interest payable.
The interest expense is = 16000 * 0.1 * 5/12 = $666.67 rounded off to $667
Answer:
d. Yes, the offeror must be a merchant, pursuant to the UCC definition of merchant.
Explanation:
The Uniform Commercial Code (UCC) establishes that firm offers can only be made by merchants. They also apply only to the sale of goods, but the baseball card is a type of good.
The problem is that Debbie is not probably a merchant. In order for her to be considered a merchant, she would need to be in the business of buying and selling baseball cards on a regular basis.
Answer:
The closest answer is 49.
Explanation:
Given that,
Annual demand, D = 43,000 units
Ordering cost, O = $200
Per unit cost of the item = $50
Annual holding cost, H = annual holding rate × Per unit cost of the item
= 35% × $50
= $17.5
= 991.39
= 992 units
Therefore,
Number of orders per year = Annual demand ÷ EOQ
= 43,000 ÷ 992
= 43.34
Hence, the closest answer is 49 and this is not given in the question.
