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denpristay [2]
3 years ago
11

Here are three things you could do if you do not attend your neighbor's barbecue: watch television with some friends (you value

this at $17), read a good novel (you value this at $14), or go in to work (you could earn $16 during the barbecue). The opportunity cost of going to your neighbor's barbecue is
a. $16, because this is the only alternative of the three where you actually receive a monetary payment.
b. $14, because this is the lowest valued alternative forfeited.
c. $17, because this is the highest valued alternative forfeited.
d. $47, because this is the total dollar sum of the alternatives forfeited.
Business
1 answer:
Colt1911 [192]3 years ago
7 0

Answer: Option (c) is correct.

Explanation:

Given that,

Alternatives for a person if he do not attend his neighbor's barbecue:

(1) Watch television with some friends = he value this at $17

(2) Read a good novel = he value this at $14

(3) Go in to work = he could earn $16 during the barbecue

Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.

If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.

Therefore, the opportunity cost of going to his neighbor's barbecue is the enjoyment he get from watching television with some friends because this is the highest valued alternative forfeited.

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Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

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Sales Tax Transactions Journalize the entries to record the following selected transactions: a. Sold $62,800 of merchandise on a
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Answer:

Dr Account receivable $65,940

Cr Sales Revenue $62,800

Cr Sales tax payable $3,140

Explanation:

Sales of merchandise inventory on account

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Cr Sales Revenue $62,800

Cr Sales tax payable $3,140

Sales tax payable = Sales Revenue × Sales tax percentage

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=$3,140

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Account receivable = Sales Revenue + Sales tax payable

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=$65,940

8 0
3 years ago
The balance of​ stockholders' equity at the beginning of the year and the end of the year was $ 60 comma 000 and $ 67 comma 000​
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Answer:

Explanation:

Income/ (loss) for the year = Equity balance at the end +dividend paid- equity balance at the beginning

=$67,000+22,000-$60,000

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A public works department in a metropolitan area is looking into buying a major equipment to enhance productivity. The initial c
NARA [144]

Answer:

B. The payback is approximately three years

Explanation:

The computation of payback period for this equipment purchase is shown below:-

<u>Year              Cash flow          Cumulative cash flow</u>

0                   -$600,000             -$600,000

1                     $250,000              -$350,000

2                    $200,000              -$150,000

                 ($250,000 - $50,000)

3                    $150,000                  0

                 ($200,000 - $50,000)

4                    $100,000                $100,000

                  ($150,000 - $50,000)

5                    $50,000                  $150,000

         ($100,000 - $50,000)

Here, Cumulative cash flow in the year o is -$600,000 and as we can see that cumulative cash flow in year 3 is 0.

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7 0
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Answer:

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7 0
3 years ago
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