Answer:
$25,000
Explanation:
The cash balance at the end of the year can be calculated as follows:
=> $12,000 + $2,000 + $7,000 + $4,000
Answer:
January 1
Cash 614000 Dr
Notes Payable 614000 Cr
Explanation:
The Sheffield Brick Company has borrowed from the Admire county bank which means the note payable is a liability in the books of the Sheffield Brick company. As liability is increased or recorded, it is credited. The amount of liability is $614000 on the day of the issuance of note. Thus, Sheffield will credit Note payable by $614000.
The Sheffield company has received cash by signing note. As cash is an asset and it is increasing, the Sheffield company will debit cash by 614000 against the notes payable.
Answer:
True because in the case if the the company is producing single product then the method is simple. If the company is making number of products we have to assume a sales mix to calculate breakeven point. Reaching breakeven point is not easy in multi products case. To calculate breakeven point we have to calculate weighted average contribution per unit to put the values in the following formula:
Breakeven point (units) = Fixed cost/ weighted average cost per unit
Answer:
Within walking distance from your home, there are a plethora of fast-food restaurants including Koala Express, Cabo Bob's Burritos, Oodles of Noodles, and Hanz's Hearty Hamburgers.
Explanation:
Monopolistic competition refers to a market where there are a large of suppliers that offer differentiated products to a large number of consumers. The restaurant industry are the most common example of monopolistic competition.
The other options are wrong:
Sprint, AT&T, Verizon, and T-Mobile own a large portion of the U.S. cellular market share. OLIGOPOLISTIC MARKET (FEW SUPPLIERS AND MANY CONSUMERS)
Farmers grow navel oranges throughout the United States. PERFECT COMPETITION (MANY SUPPLIERS AND MANY CONSUMERS THAT SUPPLY SIMILAR PRODUCTS)
The local gas company owns all of the gas lines that supply natural gas and heating to the residents in the town of Madison, Wisconsin. MONOPOLY, ONLY ONE SUPPLIER AND MANY CONSUMERS
Answer:
The GDP in this economy is $6,230 billion.
Explanation:
The GDP can be calculated using the following formula:
Y = C + I + G + (X - M) ....................................... (1)
Where:
Y = GDP of the economy
C = Personal Consumption Expenditures = $4,500
I = Gross Private Domestic Investment = $800
G = Government Purchases = $950
X = Exports = $65
M = Imports = $85
Substituting the values into equation (1), we have:
Y = $4,500 + $800 + $950 + ($65 - $85)
Y = $6,250 - $20
Y = $6,230
Since the figures are in billions of dollars, the GDP in this economy is therefore $6,230 billion.
