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3 years ago

The rule of 72 is useful in calculating the

Business

1 answer:

dimulka [17.4K]3 years ago

4 0

It's useful when calculating the time an investment will take to double, given an annual fixed rate of interest.

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What were the main factors in both the North and South for the abandonment of Reconstruction?

OverLord2011 [107]

Social effects were bringing families back together, the Emancipation act, and churches and schools being available to former slaves. What were the main factors, in both the North and South, for the abandonment of Reconstruction?- Land, jobs, and establishing the Bureau were the main factors for both.

8 0

3 years ago

Joan grows pumpkins. If Joan plants no seeds on her farm, she gets no harvest. If she plants 1 bag of seeds, she gets 500 pumpki

valkas [14]

Answer: Option (B) is correct.

Explanation:

Correct option: Decreasing marginal product.

Marginal product is the change in the level of output, when there will be an extra input employed in the production of a certain commodity.

So, Marginal Product = $\frac{change\ in\ Q}{Change\ in\ I}$

Where,

Q = Output

I = Input

Marginal product of 1st bag = 500

Marginal product of 2nd bag = $\frac{800-500}{2-1}$ = 300

Marginal product of 3rd bag = $\frac{900-800}{3-2}$ = 100

∴ From the above calculations, we can seen that as we employed one more bag of seeds as a result marginal product goes on diminishing.

Hence, Joan's production function exhibits decreasing marginal product.

3 0

3 years ago

If a journal entry and posting for the use of one month of rent from the prepaid rent account during the year is accidently omit

tensa zangetsu [6.8K]

Answer:

Expenses will be understated, hence, Net Income will be overstated.

Rent prepaid will be overstated, hence, current assets will be overstated.

Explanation:

Ordinarily, rent prepaid is meant to be credited every month to the tune of the the value that has been consumed and then added to period expenses to reduce net income.

In the statement of Financial Position, the same amount that has been consumed should be used to reduce balance in rent prepaid account, otherwise, current assets will be overstated if no adjustment is made.

4 0

3 years ago

Which of the following users of accounting information are interested in the quality of a company assets?

kaheart [24]

Answer:

Explanation:

Well public is all about quality

7 0

2 years ago

Prepare a December 31, 2020, balance sheet for Long Print Shop from the following: cash, $50,000; accounts payable, $38,000; mer

Bumek [7]

Answer:

Long Print Shop

Balance sheet for the year ended December 31, 2020

Amount in $ Amount in $

Assets

Non-current asset

Equipment 20,000

Current assets

Merchandise inventory 14,000

Cash 50,000

Total current asset 64,000

Total assets 84,000

Liabiities

Accounts payable 38,000

Total liabilities  38,000

Equity

Capital 46,000

Total equity 46,000

Total liabilities and equity 84,000

Explanation:

The accounting equation shows the relationship between the elements of a balance sheet which are assets liabilities and equity. This may be expressed mathematically as

Assets = Liabilities + Equity

While assets include fixed assets, cash, inventories, account receivables etc, liabilities include accounts payable, loans payable, accrued expenses etc.

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

5 0

3 years ago