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OverLord2011 [107]
3 years ago
14

Suppose a large country experiences economic growth which results in a reduced willingness to trade. The country’s terms of trad

e will _____ because the fall in demand for imports will cause the price of its exports to _____ relative to the price that it has to pay for its imports.
Business
1 answer:
eimsori [14]3 years ago
4 0

Answer:

The correct answer is letter "B": improve; rise.

Explanation:

Terms of Trade measures the efficiency of a country's trade. It is a ratio which compares the exports of a country with its imports. It is <em>calculated by dividing the export value by the import value, and by multiplying the result by one hundred (100)</em>. A terms of trade figure higher than 100, means a country exporting goods at a higher value than its imports.

<em>Given the case that there is no willingness to trade in an economy after a growth, the most possible scenario to take place is that the trade terms will </em>improve <em>as a result of the decrease in the demand of imports and assuming the level of exports keeps at the constant level that allowed the economic growth or if it even </em>rises<em>.</em>

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Which of the following is NOT an essential element of a contract for the purchase of a one- to four-family residential resale pr
Lyrx [107]

Answer:

<u>a) Competent parties</u>

Explanation:

This is not an essential element of such a contract because basically we would not expect a minor to be involved in a transaction of a four-family residential resale property.

Remember, competent parties contract requirements are that the two parties in the sale contract should be persons legally and mentally capable of entering into contracts that is enforceable by law.

5 0
3 years ago
A company started a new product, and in the first month started 100,000100,000 units. The ending work in process inventory was 2
sukhopar [10]

Answer:

$240,000

Explanation:

Calculation for What is the value of the inventory transferred out, using the weighted-average inventory method

First step is to calculate the Equivalent material cost=

Equivalent material cost= 20,000×100%×$6

Equivalent material cost= 120,000

Second step is to calculate Equivalent conversion cost

Equivalent conversion cost=20,000×75%×8

Equivalent conversion cost=120,000

Now let calculate the value of the inventory transferred out, using the weighted-average inventory method

Inventory value transferred out= 120,000+120,000

Inventory value transferred out=$240,000

Therefore the value of the inventory transferred out, using the weighted-average inventory method is $240,000

4 0
3 years ago
On January 1, Puckett Company paid $2.97 million for 99,000 shares of Harrison’s voting common stock, which represents a 40 perc
Ira Lisetskai [31]

Answer:

Balance of Harrison's Investment in Puckett's Financial Records

= $2,905,000

Explanation:

To calculate the balance of Harrison's account in Puckett's financial records the following steps are applied.

Step 1: Calculate the percentage of reported Income that accruees to Harrsion in Puckett

=Reported Net Profit x Percent Investement of Harrison in Puckett

= $580,000 x 0.40= $232,000

Step 2: Calculate the Dividend Accrued to Harrison's Common Stok basd on the $3 dividend per share declared

= Total Number of Shares for Harrison x $3

=99,000 Shares x $3= $297,000

Final Step: Calcuate the balance of Harrision's Investment in Puckett

= Amount paid for 99,000 stock + Percentage of Reported Income Accrued to Harrison- Harrison's portion of Dividend declared

= $2,970,000 + $232,000- $297,000

= $2,905,000

7 0
3 years ago
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017.Raw Materials Invento
konstantin123 [22]

Answer:

A) cost of goods manufactured schedule

Factory Insurance                                                  4,700

Factory Utilities                                                    29,100

Factory Machinery Depreciation                        19,000

Direct Labor                                                        147,750

Plant Manager`s Salary                                       65,600

Indirect Labor                                                      26,560

Factory Property Taxes                                         9,810

Factory Repairs                                                      1,600

Add Beginning Work in Process Inventory       26,800

Less Closing Work in Process Inventory          (22,300)

Cost of Goods Manufactured                         $308,620

B) income statement through gross profit

Sales Revenue                                                                   564,000

Less Sales Discounts                                                            (4,700)

Net Sales                                                                            559,300

Less Cost of Goods Sold :

Finished Goods Inventory                                98,200

Add Cost of Goods Manufactured                 308,620

Less Closing Finished Goods Inventory         (26,100)   (380,720)

Gross Profit                                                                         178,580

C) current assets section of the balance sheet at June 30,2017

<u>Current Assets</u>

Raw Materials Inventory      46,000

Work in Process Inventory   22,300

Finished Goods Inventory    26,100

Accounts Receivable            27,100

Cash                                      35,600

Total Current Assets           157,100

Explanation:

<u>Raw Materials Consumed in Production Calculation</u>

<em>Open a Raw Materials T - Account as follows :</em>

<u>Debit :</u>

Opening Balance                                                      $51,100

Purchases                                                                $97,500

Totals                                                                      $148,600

<u>Credit :</u>

Closing  Balance                                                      $46,000

Requisitioned for Production  (Balancing figure) $102,600

Totals                                                                      $148,600

3 0
3 years ago
Emma's property is assessed at $650,000. her property qualified for a $50,000 homestead tax exemption and was appraised at $800,
Rama09 [41]
Emma's taxable property value should be $600,000 since her taxes will be based on the assessment not the appraisal and also because she gets the $50,000 tax reduction so therefore to reiterate she will be taxed on only the $600,000.
6 0
3 years ago
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