Negative attitude can lead to high turnover
Hanif will supply less tutoring now, shifting supply to the left as he is expecting this price increase in the future.
<h3>What is a supply curve?</h3>
A supply curve, in economics, is a graphic illustration of the connection between product charges and the quantity of product that a vendor is inclined and able to supply.
Product price is measured on the vertical axis of the graph and the number of products provided on the horizontal axis.
Therefore, Hanif will supply less tutoring now, shifting supply to the left as he is expecting this price increase in the future.
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The Catch-up notion that developing countries can catch up or converge with developed countries is one of the key insights of a branch of economics . According to the catch-up effect idea, which is based on the finding that less developed economies grew more quickly than wealthier nations, all economies would eventually converge in terms of per capita income.
Or, to put it another way, the less developed economies will figuratively "catch-up" to the stronger ones. The theory of convergence is another name for the catch-up effect. The Opening up their economics to free trade and building the social capacities.
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Answer:
Debit : Accounts Receivables : $695,800
Debit : Service Charge Expense : $14,200
Credit : Sales : $710,000
Explanation:
Factoring is a process by which a business sells its accounts receivables to a third party (factor) at a particular discount or service charge. Factoring generally occurs when a business wants to meet it’s immediate cash requirements. The factoring company in this case, charges 2% service fee of $710,000 accounts receivables. In monetary terms this is : 710,000 x 2% = $14,200. This amount would be an expense incurred by the business. The double entry to record this transaction in the books of the business is as follows:
Debit : Accounts Receivables : $695,800
Debit : Service Charge Expense : $14,200
Credit : Sales : $710,000
Answer:
See below
Explanation:
Recording the entire cost as expense would have understated retained earnings by $2,650,000
Annual depreciation on machine = ( Purchase cost - Residual value ) / Useful life
= ($2,650,000 - $165,000) / 9
= $2,485,000 / 9
= $276,111.11
Depreciation would have been recorded for $552,222 for 2 years had the machinery been corrected recorded I.e $276,111 × 2 = $552,222
Therefore , the cumulative effect of this error on the income statement of Sheridan for the year ended, 31 December 2021 would have shown
= $2,650,000 - $552,222
= $2,097,779
