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kenny6666 [7]
3 years ago
10

Jacob and Mason go to a diner that sells burritos for $5 and tacos for $3. They agree to split the lunch bill evenly. Mason choo

ses a taco. The marginal cost to Jacob of ordering a burrito instead of a taco is
Business
1 answer:
Rainbow [258]3 years ago
7 0

Answer:

$1

Explanation:

The marginal cost refers to the cost of producing one additional unit or serving one more customer.

In this case, we have to determine the additional cost of Jacob ordering a burrito instead of a taco. As Mason chose the tacos and they agreed to split the lunch bill evenly, if Jacob decides to eat the tacos, the cost for each of them is:

$3+$3=$6/2= $3

If Jacob decides to eat the burrito:

$3+$5= $8/2= $4

So, the marginal cost to Jacob ordering a burrito is:

$4-$3= $1

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Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with can
oksano4ka [1.4K]

Answer:

Harrison company

Step 1.

Preparation of adjusted Cash Book

Balance as at July 31, 2016 = $40,293

Add: bal. of Deposit by credit customer = ($3,100 - $310) = $2,790

Deduct: Bank Service charge = -$30

Deduct: NSF checks = -$1,750

Deduct: loan repayment plus interest = -$3,870

Adjusted Balance =$37,433

Step 2. Bank reconciliation statement

As at 31st July 2016

Balance as per Bank Statement = $38,293

Deduct: uncleared Cheques = -$8,530

Add: Deposits outstanding = $7,400

Add: over disbursement by bank due for recovery = $270

Adjusted Bank Statement = $37,433

Compared to Adjusted Cash Book = $37,433

Difference = $0.

Step 3.

Journal entries required

Debit Cash Account with $2,790

Credit Account Receivables with $2,790

(Under recorded Customer deposit on sales)

Debit NSF expense = $1,750

Debit Loan Account with $2,900

Debit interest on Loan Account with $970

Debit Bank Charges expense a account with $30

Credit Cash Account with $5,650

(Direct debits to bank account on sundry transactions)

Explanation:

A bank reconciliation statement is presented to reconcile a 3rd party (Bank) statement of our Account and the Account maintained by the business in house.

The objective of the Bank reconciliation statement includes:

1. Identify the missing entries in either records

2. Flag the corrections the Bank needs to do to bring our balance to a correct state

3. Pass Journals to capture entries we have missed out or captured incorrectly

4. Identify unassigned entries for investigation

5 0
3 years ago
. Based on the following data, Accounts payable…………………………………………………..... $62,000 Accounts receivable…………………………………………………. 100,000
Temka [501]

Answer:  $428,000

Explanation:

Given that,

Accounts payable = $62,000

Accounts receivable = 100,000

Cash = 30,000

Inventory = 138,000

Land = 160,000

Common Stock = 200,000

Revenue = 80,000

Dividends = 56,000

Expenses = 40,000

Total assets = Accounts receivable + Cash + Inventory + Land

                     = 100,000 + 30,000 +  138,000 + 160,000

                     = $428,000

3 0
3 years ago
A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a:
goblinko [34]

A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a Capital Budget.

<h3>What is a Capital Budget?</h3>
  • The procedure a company uses to assess potential big projects or investments is called capital budgeting.
  • Before a project is accepted or denied, capital budgeting is necessary. Examples of such projects include the construction of a new plant or a significant investment in a third-party enterprise.
  • It is a means of locating a superior offer for the expansion of the company.
  • A company's bottom line is frequently affected by significant capital decisions, which are frequently tied to capital planning.
  • In capital budgeting, projects that improve a business are chosen. Almost everything, including the acquisition of land or the purchase of fixed assets like a new truck or machinery, can be included in the capital budgeting process.

To learn more about Capital Budget refer to:

brainly.com/question/23719404

#SPJ4

7 0
1 year ago
With practical illustration, how can managers leverage on organizational behavior components to maximize business success
densk [106]

Explanation:

The study of organizational behavior in a company can be beneficial for managers to optimize people management practices.

The attitudes of employees in an organization are responsible for creating an organizational climate focused on harmony and ethics, so it is necessary for managers to know the profile and motivations of employees, to develop strategies that will help in creating a favorable organizational culture. the development of skills and abilities.

Knowing organizational human capital is extremely necessary to analyze how employees communicate individually and in teams, in order to develop tactics that maximize their potential and keep them motivated and engaged, so that there is integration and increased employee productivity, an essential factor for assist in business maximization and success.

3 0
3 years ago
________ is the ability of a country to produce a specific good at a lower opportunity cost than its trading partners.
Maslowich
Comparative advantage
3 0
3 years ago
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