3 best basic economic questions

If the residual value of a leased asset turns out to be more than the amount guaranteed by the lessee, the:

sdas [7]

Answer:

D. Lessor is not obligated to compensate the lessee for the excess.

Explanation:

A lease agreement is a contract that allows for the use of an asset but does not convey ownership rights of the asset. It is a contract that exist between a lessor and a lessee that allows the lessee rights to the use of a property owned or managed by the lessor for a period of time.

If the residual value of a leased asset turns out to be more than the amount guaranteed by the lessee, the: Lessor is not obligated to compensate the lessee for the excess. because the lessee is responsible for the condition of the property during the lease period.

8 0

3 years ago

What is one way a command economy affects the lives.

ELEN [110]

Answer:

What is one way a command economy affects the lives of private citizens? Citizens cannot make most economic decisions. Which statement best describes a mixed market economy? Producers and consumers make some economic choices while the government makes others?

Explanation:

4 0

3 years ago

Michael’s Bakery had $236,400 in net fixed assets at the beginning of the year. During the year, the company purchased $53,200 i

alexdok [17]

Answer:

$270,300

Explanation:

Given that,

Net fixed assets at the beginning of the year = $236,400

New equipment purchased = $53,200

Old equipment sold = $22,000

Book value of old equipment = $5,900

Depreciation expense for the year = $13,400

The value of new equipment purchased added to the fixed assets, the book value of the old equipment and the depreciation expense are deducted from the fixed assets.

The sale of old equipment and depreciation expense reduces the net fixed assets, that's why it is deducted from the net fixed assets.

Net fixed assets at the end of the year:

= Beginning net fixed assets + Value of new equipment - Book value of the old equipment sold - Depreciation expense

= $236,400 + $53,200 - $5,900 - $13,400

= $270,300

6 0

3 years ago

Suppose that Techno TV produces LCD televisions. At a price of $2,000 per television, Techno determines that its optimal output

prohojiy [21]

Answer: The answer is b. Reduce output in the short run.

Explanation: In production, to determine the quantity of products to supply, the demand of the consumer plays a very vital role. This is because the consumer demand will determine the price at which a company will sell its products.

In the case of Techno above, they would do well to reduce the output in the short run, since demand has reduced, pending when the demand increases. This is because if they maintain their current output of 3000 TV sets per week, they will sell less units and their revenue (price x quantity sold) will be lower than their cost and this will lead to them incurring loss.

So until the recession scare passes, output should be reduced in the short run.

3 0

3 years ago

The comparative balance sheets for Concord Corporation as of December 31 are presented below.

stiks02 [169]

Answer:

Concord Corporation

Statement of Cash Flows for the year ended December 31, 2022

Operating activities:

Net income $32,560

add Depreciation 36,960

Loss from sale of equipment 1,760

Changes in working capital:

Accounts receivable 7,040

Inventory -8,316

Prepaid expenses 5,034

Accounts payable 7,682

Net cash from operations $82,720

Investing activities:

Sale of equipment $7,040

Sale of land 22,000

Purchase of equipment -80,960

Net cash from investments -$51,920

Financing activities:

Dividends payment -10,560

Net cash flows $20,240

Reconciliation:

Beginning cash balance $39,600

Net cash flows $20,240

Ending cash balance $59,840

Explanation:

a) Data and Calculations:

Concord Corporation

Comparative Balance Sheets

December 31

Assets 2022 2021 Changes

Cash $59,840 $39,600 +$20,240

Accounts receivable 44,000 51,040 -7,040

Inventory 133,276 124,960 +8,316

Prepaid expenses 13,446 18,480 -5,034

Land 127,600 114,400 +13,200

Buildings 176,000 176,000 0

Accumulated depreciation

-buildings (52,800) (35,200) (17,600)

Equipment 198,000 136,400 +61,600

Accumulated depreciation

-equipment (39,600) (30,800) (8,800)

Total $659,762 $594,880

Liabilities and Stockholders' Equity

Accounts payable $39,362 $31,680 +$7,682

Bonds payable 264,000 264,000 0

Common stock, $1 par 176,000 140,800 +35,200

Retained earnings 180,400 158,400 +22,000

Total $659,762 $594,880

Additional information:

1. Depreciation $36,960

($17,600 of depreciation expense for buildings and $19,360 for equipment)

2. Sale of land at $22,000

3. Cash dividends paid $10,560

4. Net income for 2022 $32,560

5. Equipment purchase $80,960

Equipment sales $7,040

Loss from sale $1,760

Accumulated Depreciation $10,560

Equipment

Account Titles Debit Credit

Beginning balance 136,400

Cash 80,960

Sale of equipment 19,360

Ending balance 198,000

Sale of Equipment

Account Titles Debit Credit

Equipment 19,360

Accumulated depreciation 10,560

Cash 7,040

Loss from Sale of Equipment 1,760

6. Land $35,200 Common stock $35,200

Land

Account Titles Debit Credit

Beginning balance 114,400

Common stock 35,200

Cash 22,000

Ending balance 127,600

5 0

3 years ago