A. how much would the firm’s revenue change if it lowered price from $12 to $10? is demand elastic or inelastic in this range?

the ABC Company has a monthly collected balance of $600,000. Its bank pays an earning credit rate of 0.75%. The Reserve Requirem

ohaa [14]

Answer: $332.1

Explanation:

Given that,

Monthly collected balance = $600,000

Bank pays an earning credit rate = 0.75%

Reserve Requirement Ratio = 10% of $600,000

= $60,000

Investable amount = Monthly collected balance - Reserve requirement amount

= $600,000 - $60,000

= $540,000

ABC's monthly earnings credit:

= Investable amount × Earning credit rate × Time period

= 540,000 × 0.75% × $\frac{30}{365}$

= $332.1

3 0

2 years ago

The May transactions of Bramble Corp. were as follows:

svlad2 [7]

Answer and Explanation:

The journal entries are given below:

On May 4

Account payable $610

To cash $610

(To record the cash paid)

On May 7

Account receivable $6,840

To service revenue $6,840

(To record the service on account)

On May 8

Supplies $870

To Account payable $870

(To record supplies purchased on account)

On May 9

Equipment $1,930

To cash $1,930

(To record the equipment purchase)

On May 17

Salary expense $700

To cash $700

(To record the salaries expense)

On May 22

Repair expense $800

To Account payable $800

(To record the received bill for repairing of an equipment)

On May 29

Prepaid rent $1,280

To cash $1,280

(To record the cash paid)

4 0

3 years ago

Other names for manufacturing overhead include ______.

JulijaS [17]

Other names for manufacturing overhead include:

a. factory burden

b. indirect manufacturing costs

c. factory overhead

<h3>What is manufacture overhead?</h3>

A company's manufacturing activities include any expenses that are incurred that are not directly related to the cost of direct supplies and labor. Manufacturing overhead is referred to as an indirect cost because of this.

Costs, however, that are incurred outside of the manufacturing facilities are not costs for the products and cannot be inventoried. These expenses, which comprise selling, general, and administrative charges such corporate salaries, audit, and legal fees, are only reported as expenses and are included in the income statement for the accounting period in which they take place.

Learn more about Manufacturing overhead

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6 0

1 year ago

What are the powers and responsibilities of the top management of a corporation?. A) They manage the day-to-day operations of th

tankabanditka [31]

The power and responsibilities of the top management of a corporation is : A. they manage the day to day operations of the corporation

For example, if you're a Relationship manager, you are obliged to handled all the things related in maintaining good relationship with the customers

hope this helps

8 0

3 years ago

Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and

Tamiku [17]

Answer: D. $40,175

Explanation:

The balance in the Capital account reported on the Statement of Owner's Equity will include the Capital contributions of Andrea Apple to the business as well as the Net income from operations also known as Retained Earnings.

The Net Income for the month will be revenue less expenses.

Revenue

$5,700 cash and $2,750 on account for services provided in January.

Revenue is therefore,

= 5,700 + 2,750

= $8,450

Expenses

Expenses include the rent paid of $1,500 and the $275 paid for January Utilities.

= 1,500 + 275

= $1,775

Net Income = Revenue - Expenses

Net Income = 8,450 - 1,775

Net Income = $6,675

The Capital that Mr. Apple brought into the business refers to anything he contributed to the business whether in cash or otherwise.

The Capital therefore is,

- The $13,500 cash and the $20,000 worth of equipment.

The Capital Mr. Apple brought into the business is therefore,

= 13,500 + 20,000

= $33,500

The balance on the capital account will therefore be,

= Capital + Net Income

= 33,500 + 6,675

= $40,175

Option D. is correct.

3 0

2 years ago