Answer:
If Morocco produces 120 belts and exports 70 belts:
- it will receive 105 swords (= 70 x 1.5)
- it will consume 50 belts (its domestic consumption of belts will decrease by 10)
Explanation:
Without trade, Morocco will produce 60 swords and 60 belts and consume them all, but if it engages in trade, it will produce 120 belts.
- Morocco's opportunity cost of producing one belt = 60 / 60 = <u>1</u>
- Morocco's opportunity cost of producing one sword = 60 / 60 = 1
- Estonia's opportunity cost of producing one belt = 100 / 40 = 2.5
- Estonia's opportunity cost of producing one sword = 40 / 100 = <u>0.25</u>
If Morocco produces 120 belts and keeps current consumption level:
- it consumes 60 belts
- it can trade 40 belts for 60 swords
- it will have a 20 belt surplus production
If Morocco produces 120 belts and exports 70 belts:
- it will receive 105 swords (= 70 x 1.5)
- it will consume 50 belts
Answer:
The correct answer is 414 million.
Explanation:
According to the scenario, the computation of the given data are as follows:
We can calculate the labor force by using following formula:
Labor force = Total unemployed + Total employed
By putting the value in the formula, we get
= (20 + 29 + 16 + 30 + 18 + 23) + ( 39 + 52 + 36 + 56 + 41 + 54)
= 136 million + 278 million
= 414 million
Answer:
Item a
Debit : Salaries Expense $1,700
Credit : Salaries Payable $1,700
Item b
Debit : Depreciation expense $200
Credit : Accumulated depreciation $200
Item c
Debit : Insurance expense $350
Credit : Prepaid Insurance $350
Item d
Debit : Supplies expenses $110
Credit : Office Supplies $110
Item e
Debit : Unearned revenue $400
Credit : Revenue Earned $400
Item f
Debit : Accounts Receivable $900
Credit : Service Revenue $900
Explanation:
The adjusting entries for the month of December have been prepared above.
Answer:
D. $210000
Explanation:
Given that
Inventory balance at the beginning = 22000
Inventory balance at the end = 20000
Inventory turnover = 6.0
Gross profit ratio = 40%
Average inventory = balance at beginning + balance at end / 2
= 22000 + 20000/2
= 21000
Recall that
Inventory turnover = cost of good sold/average inventory
Thus,
Cost of good sold = inventory turnover × average inventory
= 6.0 × 21000
= $126000
Therefore
Net sales = cost of good/ 1 - gross profit ratio
= 126000/1 - 0.4
= 126000/0.6
= $210,000
Answer:
Explanation:
Cash Supplies
Beg. Bal. Beg. Bal.
Notes Payable 3940 Cash 300
Contributed capital 4630 Accounts Payable 700
Equipment 200
Supplies 300 End. Bal. 1000
End. Bal. 8070
Accounts Payable
Contributed Capital
Equipment Beg. Bal.
Beg. Bal. Supplies 700
Cash 200
Notes Payable 800 End. Bal. 700
End. Bal. 1000
Notes Payable Beg. Bal.
Beg. Bal. Cash 4630
Cash 3940
Equipment 800
End. Bal. 4630
End. Bal. 4740
Trial Balance
Debit Credit
Cash 8070
Supplies 1000
Equipment 1000
Accounts Payable 700
Notes Payable 4740
Contributed Capital 4630
Total 10070 10070
