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Minchanka [31]
3 years ago
6

A firm is using experience curve pricing when it prices high worldwide in an attempt to position itself as a market leader.

Business
1 answer:
Sedbober [7]3 years ago
4 0

the answer is this true

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6. Assuming the partial billing was approved for payment and the expenditure and liability (contracts payable) was recorded for
jenyasd209 [6]

Answer:

Option A, Credit to Cash, $560,000

Explanation:

As per the data given in the question,

Expenditure and liability = $700,000

Retaining percentage = 20%

Assuming the partial billing was certified for expenses and payments and liability was approved for amount $70,000. Though, Oxford has a policy not to pay 100 percent, but to retain  20 percent as a retained percentage.  

So, $700,000 - $700,000 × 20%

= $700,000 - $140,000

= $560,000

Therefore, The entry to record the approved payment and retained percentage would include:  

Option A, Credit to Cash, $560,000

8 0
3 years ago
Larry lives in Chicago and runs a business that sells guitars. In an average year, he receives $793,000 from selling guitars. Of
OLga [1]

Answer:

a)

1. Explicit cost

2. Implicit Cost

3. Implicit Cost

4. Explicit cost

b)

Accounting Profit is $62000.

Economic Profit is -$3000. (a loss of $3000)

Explanation:

a)

Explicit costs are those costs incurred by a business that require an outlay of money as a result of operating a business.

Implicit costs, on the other hand, are the costs that do not require an outlay of money as a result of operating a business. They are instead the opportunity costs of operating a business or the benefits that are foregone.

1. The wages and utility bills are a result of operating a business and requires and outlay of money as their payment. They are <u>explicit costs.</u>

2. The rental income could have been earned if Larry rented the showroom he is using to operate his business from. The rent foregone is an opportunity cost and is an <u>implicit cost.</u>

3. The salary Larry could have earned is also something that Brian has to forego to operate his business and is an <u>implicit cost.</u>

<u />

4. The cost of purchases paid to manufacturer requires outlay of money and is an <u>explicit cost.</u>

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b)

Accounting profit = Total Revenue - Total explicit cost

Economic profit =  Total revenue - (Total Explicit Cost + Total Implicit Cost)

Accounting Profit = 793000 - 430000 - 301000 = $62000 profit

Economic profit = 793000 - (430000 + 301000 + 15000 + 50000) = -$3000 loss

6 0
3 years ago
What is the major difference between the post-closing trial balance and the other two trial balances?
lapo4ka [179]

Answer:

d.The post-closing trial balance is the only one to include only real accounts.

Explanation:

Post closing trial balance is prepared after providing for all the adjustments pending in the first raw trial balance.

Thus, it only represents the real accounts, as only real accounts have the balance to be carried forward, all the expenses and incomes are not real accounts and are thus, closed, and no carrying balance.

Whereas, all other trial balances will have the other accounts outstanding as well.

Thus, only statement D is correct in disclosing the difference between various trial balances.

4 0
3 years ago
Periodic outlays for inventory control software at Baron Chemicals are expected to be $150,000 immediately, $200,000 in 1 year,
Nady [450]

Answer:

Total present value=$617,523.24

Explanation:

The formula for calculating continuous compounding is given as follows

F=P(e^it)

F=future value

P=present value

i=interest rate

t=time involved i.e 1 year or 2 year

e=Mathematical constant=2.7183

By applying above mentioned formula, the present value of inventory control software by Baron Chemicals shall be calculated as follows:

Present value of year 2 Cash flow= $286,555.76

($350,000/e^10%*2)

Present value of year 1 Cash flow=  $180,967.48

($200,000/e^10%*1)

Present value of year 0 Cash flow= $150,000

Total present value=$617,523.24

7 0
3 years ago
Realists argue that the __________ is the key unit of analysis in international relations, whereas neorealists argue that the __
Delvig [45]
The answers are state, and international system

I hope that helped
5 0
3 years ago
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