Businesses that engage in ultrahazardous activities are strictly liable for any injuries.

According to the principle of comparative advantage, worldwide output and consumption will be higher when nations specialize in

Alex_Xolod [135]

Answer: According to the principle of comparative advantage, worldwide output and consumption will be higher when nations specialize in the production of those goods and services "a. they can provide at a lower opportunity costs."

Explanation: The comparative advantage is the ability of a country to produce a good using relatively less resources than another. The theory of comparative advantages says that Each country in question will specialize in what is most efficient. At the same time, it will import the rest of the products in which they are most ineffective in terms of production. Although a country does not have an absolute advantage in producing any good, it may specialize in those goods in which it finds a greater comparative advantage and finally be able to participate in the international market.

5 0

2 years ago

Lem Co., which accounts for treasury stock under the par value method, acquired 100 shares of its $6 par value common stock for

In-s [12.5K]

Answer:

Additional paid in capital decrease by 100 as a result of the acquisition

Explanation:

Treasury Stock 600 (100 shares x $6)

Additional Paid-In Capital 100 (100 shares x $1)

cash 1,000 (100 shares x $10)

Additional Paid-In Treasury Stock 300

7 0

3 years ago

Gonzalez Company has been in business for several years. At the end of the current year, the ledger shows:

Westkost [7]

Answer:

Debit : Bad Debts = $16,370

Credit : Allowance for doubtful debts = $16,370

Explanation:

The question states that bad debts are expected to be 5% of the accounts receivables. This means that it is: $327,400 x 5% = $16,370.

An account for allowance for doubtful debts is a contra account created, predicting that certain debtors will not be able to pay for the goods and services they purchased. The 5% may be based on historical experiences. Doubtful debts aren’t officially uncollectible, it is simply a prediction, but bad debts are, where you have officially written off a certain accounts receivable as uncollectible.

An allowance for doubtful debts is recorded in the balance sheet, directly under accounts receivables. Bad debts are recorded as an expense in the income statement.

The initial entry for allowance for doubtful debts is incorrect, hence it would have to be corrected before the new amount can be recorded. Correction:

Debit : Allowance for doubtful debts = $7900

Credit : Bad debts = $7900

The accounts will be cancelled off and the new entry can be recorded...

Debit : Bad Debts = $16,370

Credit : Allowance for doubtful debts = $16,370

When the amount is officially declared uncollectible, the allowance for doubtful debts account will be debited and the accounts receivables account will be credited.

6 0

3 years ago

Wilturner Company incurs $76,000 of labor related directly to the product in the Assembly Department, $25,000 of labor not direc

coldgirl [10]

Answer:

correct option is b) $76,000 and $37,000

Explanation:

given data

Labor related directly to the product = $76,000

labor not directly related to the product = $25,000

labor for services = $12,000

solution

As here Direct Labor is express as

Direct Labor = Labor related directly to the product ...............1

so

Direct Labor = $76,000

and

Factory Overhead will be as

Factory Overhead = Labor not directly related to the product + labor for services ,................................2

put here value and we get

Factory Overhead $25000 + $12000

Factory Overhead = $37,000

so here correct option is b) $76,000 and $37,000

6 0

3 years ago

Suppose autos cost consumers $30,000 and trucks cost consumers $15,000. What contribution does the production of 200 autos and 2

alexgriva [62]

Answer:

the contribution made to the production of 200 autos and 200 trucks is $9,000,000

Explanation:

The computation of the contribution made to the production of 200 autos and 200 trucks is shown below

Contribution to GDP is

= $30,000 × 200 + $15,000 × 200

= $6,000,000 + $3,000,000

= $9,000,000

Hence, the contribution made to the production of 200 autos and 200 trucks is $9,000,000

6 0

2 years ago