Answer:
Urgency / Postponement leads to customer inelastic demand of ice melt.
Explanation:
Elasticity of demand is responsive change in demand of good, due to change in price. Formula = % change in demand / % change in price
Factors Affecting Price Elasticity of Demand : Nature of commodity, Income, substitutes availability, time period, urgency / postponement, share in total expenditure,
Inelastic Demand is when demand responds proportionately less to price change. % change in demand < % change in price
Case 'Customer critically needs ice melt to drive to work' : This has inelastic demand i.e demand less respondent to price changes (he will buy that at high price too). Such because of the urgency of this demand & less scope of its postponement.
washing your hands would for sure be a habit you should follow to avoid illnesses and infections.
Answer:
$112,807
Explanation:
To calculate the amount of money you borrowed, you have to use the formula to calculate the present value:
PV=FV/(1+r)^n
PV= pressent value
FV= future value= 647,514
r= rate= 6%
n= number of periods of time= 30
PV=647,514/(1+0.06)^30
PV=647,514/(1.06)^30
PV=647,514/5.74
PV=112,807
According to this, you originally borrowed $112,807 for this house.
Answer and Explanation:
The journal entries are shown below:
1. Accounts receivable a/c Dr $1,840
To Sales revenue a/c Cr $1,840
(Being the sales is recorded)
2. Cost of goods sold a/c Dr $1,170
To Inventory a/c Cr $1,170
(Being the cost of goods sold is recorded)
3. Cash a/c Dr $1,840
To Accounts receivable a/c Cr $1,840
(Being the payment received is recorded)
Only these three entries are recorded
Answer:
1.Cost of Goods Sold Increase by $70,000
2.Gross Profit and Net Profit decrease by $70,000
3.Inventory in balance sheet decrease by $70,000
Explanation:
IAS 2 requires inventory to be measured at the lower of cost or net realizable value.
In our case the inventory will be valued at net realizable value of $230,000 because this is lower.
The effect with this is :
1.Cost of Goods Sold Increase by $70,000
2.Gross Profit and Net Profit decrease by $70,000
3.Inventory in balance sheet decrease by $70,000
