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ivanzaharov [21]
3 years ago
9

Which of the following represents frictional unemployment? i. The demand for refrigerators falls when the economy enters a reces

sion and refrigerator manufacturers lay off some of their workers. ii. General Motors decides to close its U.S. factories and relocate its car manufacturing division to Mexico. iii. After quitting your job in Ohio to be closer to your family in California, you are now looking for a new job. iv. Carla’s boss recently fired her for doing a poor job and she hasn't yet found a new one. Group of answer choices
Business
1 answer:
QveST [7]3 years ago
3 0

Answer:

<u>iii and iv are correct!</u>

Explanation:

Frictional unemployment happens in a stabilized economy. This occurs when workers quit their job for some reason, and also when new workers enter jobs. This is the situation that occurs in options iii and iv. In alternative i there is an example of cyclical unemployment caused by changes in the economy. In alternative ii there is an example of structural unemployment, which is unemployment due to longer lasting factors such as government policies.

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National Park Tours Co. is a travel agency. The nine transactions recorded by National Park Tours during May 2019, its first mon
lana66690 [7]

Answer:

National Park /Tours Co.

National Park Tours Co.

Unadjusted Trial Balance

May 31, 2019

Account Titles                Debit       Credit

Cash                            $10,700

Equipment                   25,000

Drawing                         3,500

Accounts receivable     3,500

Accounts payable                          $ 1,750

Fees Earned                                   13,900

Supplies                       2,450

Capital                                            34,700

Operating expenses   5,200

Totals                      $50,350     $50,350

Explanation:

a) Data and Calculations:

T-accounts

Cash

Account Titles                Debit       Credit

Beth Worley, Capital  (1) 34,700

Supplies                                      (2) 2,450

Equipment                                  (3) 4,500

Operating expense                   (4) 3,800

Accounts payable                    (5) 18,750

Accounts receivable (6) 10,400

Operating expense                   (8) 1,400

Drawings                                  (9) 3,500

Balance                                        10,700

Totals                         $45,100  $45,100

Equipment

Account Titles             Debit       Credit

Cash                         (3) 4,500

Accounts payable (3) 20,500

Balance                                       25, 000

Totals                       $25,000   $25,000

Beth Worley, Drawing

Account Titles           Debit       Credit

Cash                     (9) 3,500

Accounts Receivable

Account Titles           Debit       Credit

Fees Earned     (7) 13,900

Cash                                    (6) 10,400

Balance                                      3,500

Totals                   $13,900    $13,900

Accounts Payable

Account Titles           Debit       Credit

Equipment                             (3) 20,500

Cash                    (5) 18,750

Balance                      1,750

Totals                   $20,500     $20,500

Fees Earned

Account Titles           Debit       Credit

Accounts receivable            (7) 13,900

Supplies

Account Titles           Debit       Credit

Cash                   (2) $2,450

Beth Worley, Capital

Account Titles           Debit       Credit

Cash                                       (1) 34,700

Operating Expenses

Account Titles           Debit       Credit

Cash                     (4) 3,800

Cash                     (8) 1,400

Balance                                       5,200

Totals                    $5,200       $5,200

3 0
2 years ago
Tracy Company, a manufacturer of air conditioners, sold 270 units to Thomas Company on November 17, 2021. The units have a list
coldgirl [10]

Answer:

November 17, 2021

Dr. Inventory              $81,000

Cr. Account payable $81,000

November 26, 2021

Dr. Account Payable $81,000

Cr. Discount Income $2,430

Cr. Cash                     $78,570

December 15, 2021

Dr. Account payable $81,000

Cr. Cash                     $81,000

Explanation:

Sales Amount = 270 units x $400 = $108,000

Discount = $108,00 x 25% = $27,000

Net Sales = $108,000 - $27,000 = $81,000

Terms of sale 3/10, n/30 means there is a discount of 3% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.

Payment made on

November 26, 2021

As the payment is made within discount period, so discount will be availed

Discount = $81,000 x 3% = $2,430

Cash received = $81,000 - $2,430 = $78,570

December 15, 2021

As the payment is made after discount period, so no discount will be availed.  Full payment of $81,000 will be made.

3 0
3 years ago
Romain Surgical Hospital uses the direct method to allocate service department costs to operating departments. The hospital has
xenn [34]

Answer:

Romain Surgical Hospital

The total Surgery Department cost after service department allocations is closest to:

$ 565,970

Explanation:

a) Data and Calculations:

                                 Service Department                  Operating Department

              Information Technology    Administration   Surgery     Recovery

Departmental costs $ 36,294              $ 36,282    $ 522,320   $ 720,360

Computer workstations 43                       20                 74               64

Employees                      39                       25                94               47

Information Technology costs allocated based on the Computer workstations $36,294/138 = $263 per workstation

Administration costs allocated based on the number of employees:

$36,282/141 = $257.32

Direct Allocation of Service Departments' Costs:

                                 Service Department                  Operating Department

              Information Technology    Administration   Surgery     Recovery

Departmental costs $ 36,294              $ 36,282    $ 522,320   $ 720,360

Information Techn.     (36,294)                 0                   19,462          16,832

Administration                 0                     (36,282)          24,188          12,094

Total costs                       0                        0            $ 565,970    $ 749,286

8 0
3 years ago
Lotoya Davis Corporation has 10 million shares o common stock issued and outstanding. On June 1, the board of directors voted an
Viktor [21]

Answer:

June 1st:

Retained Earnings (Dr.)                 $8,000,000

Dividends Payable (Cr.)                $8,000,000

June 30th

Dividends Payable (Dr.)               $8,000,000

Cash (Cr.)                                      $8,000,000

These entries will remain same even in the case of liquidating dividend.

Explanation:

On June 1st the dividend is declared so the journal entry will be

Retained Earnings (Dr.)                 $8,000,000

Dividends Payable (Cr.)                $8,000,000

There will be no journal entry on June 14th.

On June 30th the dividend is paid:

Dividends Payable (Dr.)               $8,000,000

Cash (Cr.)                                      $8,000,000

The entry would not have differed if it was a liquidating dividend.

5 0
3 years ago
The City of South River budget for the fiscal year ended June 30, 2020, included an appropriation for the police department in t
Eduardwww [97]

Answer:

CITY OF SOUTH RIVER

APPROPRIATION (appr), EXPENDITURES (expend), AND ENCUMBRANCES (encum) LEDGER

GENERAL FUND: PUBLIC SAFETY - POLICE

MONTH: JULY, 2020

Tran

-  Refer  -  App  -     Encum  -   Expend  -  Unexpended App Balance

1       Budget   -8706000      -              -                     8706000

2    Purchase

      Orders

      issued          -         533000          -                     8173000

3   Invoice

   received and

   approved for

    payment        -          -496000       486000                8183000

4     Payrolls      -               -                  302000               7881000

5     Budget

   Revision     58000             -                -                         7823000

Total                8648000     37000          788000              7823000

3 0
3 years ago
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