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Advocard [28]
3 years ago
12

The economic significance of successful ticket scalping (scalpers sell tickets at higher than official prices) at baseball games

is that:
Business
1 answer:
Vinvika [58]3 years ago
5 0
<span>Scalpers lead to the understanding that there is an overabundance of demand for tickets in comparison to the supply of tickets. With buyers willing to pay a premium for the scalped tickets, this can show that there is the ability for ticket prices to be raised and customers will still purchase them.</span>
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Jim had a beginning inventory of $5,500. During the month of April, he purchased $4,000 of food and had an ending inventory of $
Likurg_2 [28]

Answer:

1.23

Explanation:

Inventory turnover is a ratio showing how many times a company has sold and replaced inventory during a given period.

Cost of Sales=Opening Inventory+Purchases-Closing Inventory

                      =5,500+4,000-3,800= 5,700

Average Inventory= Opening + Closing/2

                              = 5,500+3,800/2= 4,650

Inventory Turnover Ratio= <u>Cost of Sales</u>

                                            Avg Inventory

                                          = 5,700/4,650=1.23

8 0
3 years ago
Kraven Corp. borrows $100,000 by signing on a 1-year, 8% promissory note from General Finance Company and assigns $120,000 of it
Aleks [24]

Answer and Explanation:

The journal entry is shown below:

Cash Dr $98,800

Finance charge Dr ($120,000 × 1%) $1,200

       To Liability - Financing Arrangement $100,000

(being receipts of cash is recorded)

Here cash and finance charge is debited as it increased the assets and expenses and liability is credited as it also increased the liabilities. Also, the cash & expenses contains normal debit balance and liabilities contains normal credit balance

6 0
3 years ago
3. An investor shorts 100 shares when the share price is $20 and closes out the position six months later when the share price i
solniwko [45]

Answer:

$160

Explanation:

Calculation to determine How much does the investor gain or lose

Investor gain =[($20-$18.2)*100 Shares]- ($0.2*100 shares)

Investor gain=($1.8*100 shares)-($0.2*100 shares)

Investor gain=$180-$20

Investor gain=$160

Therefore The amount that the investor gain is $160

7 0
3 years ago
Company A uses the FIFO method to account for inventory and Company B uses the LIFO method. The two companies are exactly alike
ANEK [815]

Quick ratio is 1.47.

Company A uses the FIFO method to account for inventory and Company B uses the LIFO method. The quick ratio is an indicator of a company’s short-term liquidity position and measures a company’s ability to meet its short-term obligations with its most liquid assets.

Gross Profit 72000 67000

Operating expenses and interest expense 56000 53000,

Pretax Income 2200014000

Income Tax 3000 4000

Net Income 14000 10000

Balance sheet Year? Year

cash 4000 7000

Accounts Receive ab 114000 18000

Taventory 40000 34000,

Property & Equipment 45000 36000

Total Assets 302000 97000

Current Liabilities ‘i6000 4.7000

Long term Liabilities 5000 45000

Common stock 30000 30000

Retained Earnings 1120005000

Total Liabilities & Stock holders equity 10300037000,

L. Current Ratio = Current Assets / Current Liabilities

Year? Year

Current Ratio 36347

2.Quick Ratio

‘Current Assets - Inventory / Current Liabilities

Year? Year

Quick Ratio is 1.47

2.Profit Margin = Net profit /Sales

Year? Year

Profit Margin 737% 5.99%

Learn more about quick Ratio here

brainly.com/question/25894261

#SPJ4

4 0
2 years ago
Assume that the price elasticity of demand for movie theatres is 20.85 during all evening shows but for all afternoon shows the
zalisa [80]

Answer:

d. Need more information.

Explanation:

Demand elasticity is a microeconomic concept that aims to measure the sensitivity of demand in the face of price changes.

When calculated, elasticity reaches values that signal consumers' response to price. If elasticity is a value between 0 and 1, then demand is inelastic - little sensitive to price changes. If demand is greater than 1, this means elastic - very sensitive to price changes.

The numbers presented by the question show a highly elastic demand for theater ticket prices in both cases, especially in the afternoon shift. Thus, the theater could lower the price of both, because in elastic demands, a negative variation in price will increase the demand. However, this is not enough to calculate profit maximization since the profit calculation formula also involves costs, which are not described in the question.

8 0
3 years ago
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