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3 years ago

Econ please helppp :(((((

Business

1 answer:

Lelechka [254]3 years ago

5 0

Answer:

Pure competition

Explanation:

Pure competition refers to an ideal market with very many suppliers selling an identical product. Because the sellers are many, none of them can influence the price. Pure competition is also the perfect competition. Other characteristics of perfect competition include.

easy to enter and exit the market since there are no trade barriers
All sellers sell a homogeneous product
all sellers are price takers
There are many buyers.
Buyers have sufficient knowledge of prices and suppliers.

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One way to interpret the change in Blue Hamster's accounts receivable balance from Year 1 to Year 2 is that more customers purch

mash [69]

Answer:

The balance of account receivable for year 2 is increase from the balance of year 1.

Explanation:

The balance of account receivable for year 2 is increase from the balance of year 1. This means the thee are more credit sales and less receipts from the customers in year 2 as compared to Year 1. Credit sales increases the account receivable balance but it should be settlement in the form of receipts from the customers.

6 0

4 years ago

Below is the complete list of accounts of Cobras Incorporated and the related balance at the end of March. All accounts have the

Allisa [31]

Answer:

Cobras Incorporated

Trial Balance as at March 31.

Debit Credit

Supplies $1,100

Buildings $41,000

Cash $2,100

Accounts Receivable $2,800

Prepaid Insurance $1,100

Salaries Payable $300

Accounts Payable $1,500

Common Stock $21,000

Retained Earnings $14,500

Service Revenue $18,100

Utilities Expense $2,300

Salaries Expense $5,000

Totals $55,000 $55,000

Explanation:

A Trial Balance is used to check mathematical accuracy in ledger Accounts. It represents a list of Balances : Debit and Credit extracted from the Ledger Accounts.

7 0

3 years ago

A company completes construction of a $400 million offshore oil platform and places it into service on January 1. State law requ

Sauron [17]

Answer:

b. Liability, $9,000,000; expense, $0.

Explanation:

An asset retirement obligation (ARO) refers to an obligation with respect to the acquisition , construction, development, etc. The liability should be recognized the liability at the present value that should be expected to be paid for settling the obligations

Here the $9,000,000 million represents the liability

Also the journal entry is

Asset Dr

To liability

(Being the asset placed is recorded)

There is no expense should be recorded in the income statement

3 0

3 years ago

Trout Lumber Yard has a current accounts receivable balance of $447,516. Credit sales for the year just ended were $8,105,305. a

musickatia [10]

Answer:

Trout Lumber Yard

a. The receivables turnover = Net Credit Sales/Average Receivables

= $8,105,305/$447,516

= 18 times per year

b. The Days' Sales in Receivables = Average Receivables/Credit Sales * 365

= $447,516/$8,105,305 * 365

= 20.15 days

c. On the average, it took 20.15 days (365/18.11) for credit customers to pay off their accounts during the past year.

Explanation:

a) Data and Calculations:

Accounts receivable balance = $447,516

Credit sales for the year just ended = $8,105,305

The receivables turnover = Net Credit Sales/Average Receivables

= $8,105,305/$447,516

= 18.11 times

The Days' Sales in Receivables = Average Receivables/Credit Sales * 365

= $447,516/$8,105,305 * 365

= 20.15 days

8 0

3 years ago

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igor_vitrenko [27]

75% is the best answer

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4 years ago