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Sidana [21]
3 years ago
14

Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor superv

isor. Ricardo is excited because the promotion comes with a raise; however, the extra work hours would take away from time with his friends. In the end, he decides to take the promotion.
What is Ricardo's opportunity cost?
Business
1 answer:
Ivenika [448]3 years ago
8 0

Answer:Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor supervisor. Ricardo is excited because the promotion comes with a raise; however, the extra work hours would take away from time with his friends. In the end, he decides to take the promotion. Ricardo's opportunity cost is choosing the promotion over time with his friends.

<u>Explanation:</u>

When there are many options in front of us.Out of these options when we select one we have to forgo the other options. While we forgo other options we have to bear the loss. So the opportunity cost is the cost of the next best option that we have given up.

if Ricardo works extra hours than he will not get time to spend with his friends so this is his loss which is arising due to the benefit he is getting from promotion. This loss will be his opportunity cost.

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Need help!
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Answer:

1. Journal entries are quicker and more comfortable in the manual accounting

2. Posting is easier in computer software-based accounting

3. Trial balance adjustment in manual accounting is tricky. However, a lengthy process may pose a challenge for computerized accounting.

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Explanation:

The introduction of accounting software such as QuickBooks has transformed the working for accounting professionals. The conventional accounting system replacement has made the job more comfortable. However, there are new challenges added, such as learning the software, making error-free inputs, and pace of computer-related entries. However, considering that once these skills are learned, the overall job is easier than before.

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4 0
3 years ago
On July 1, 2017, Lopez Company paid $2,600 for six months of insurance coverage. No adjustments have been made to the Prepaid In
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Answer:

a.

Date                          Account Title                                       Debit           Credit

Dec. 31, 2017           Insurance expense                          $2,600

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b.

Date                          Account Title                                       Debit           Credit

Dec. 31, 2017           Supplies Expense                               $9,700

                                  Supplies                                                                 $9,700

<u>Working</u>

Supplies = Beginning balance + Purchases - Closing balance

= 7,800 + 3,400 - 1,500

= $9,700

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