Answer:
The correct answer is option d.
Explanation:
The most effective model to understand the effect of change of a variable on other variable is by assuming other factors to be constant. This simplifies the model and helps in easily understanding the relationship between the two variables.
Though the assumption of other things being constant does not apply in the real world, it is still used as otherwise change in other factors would complicate the model. If several factors change it would be difficult to understand the relationship between variables.
Here, to study the effect of change in the price of grapes on the market for wine, it is necessary to assume other factors such as income, consumer preferences, etc to be constant.
Answer:
Follows are the solution to this question:
Explanation:
Case 1
Production cost of goods
Work is under way, start 1510
Material direct 9780
Labor Direct 5950
Overhead production 8870
Total cost of production 24600
Total work costs under way 26110
Less: Finishing job in phase 8140
Generated cost of goods 17970
After a car is purchased at $43000 and looses 25% worth every year then the car will be worth $9200 or less after four(4) years.
What does Purchase mean?
Purchase is a term used to refer to the acquisition of goods or services in exchange for money. It is a common business transaction and can involve buying something outright or entering into an agreement to pay for it over time.
What does Services mean?
Services is a broad term that refers to any type of work or activity performed to meet the needs of a customer. Services can range from professional services like accounting or consulting to tangible products like food or clothing. Services are typically intangible in the sense that they cannot be touched, felt, or seen, but the benefits they provide are very real.
As per the price of the car which is $43,000 and it looses 25% each year which is $10750. From this we come to know that the car will be worth of $9200 or less within 4 years.
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Answer:
Explanation:
1.
Shareholders equity = Common stock + Retained earnings
Beg. balance = Common stock+Retained earnings = 166,000 + 66,000 = 232,000
Statement of shareholder's equity
Beg balance 232,000
Issuance of common stock 56,000
Add: Net Income 46,000
Less: Dividends 11,600
End balance 322,400
Balance sheet
There is not information for preparation of balance sheet but following is the layout:
Assets:
Cash
Supplies
Prepaid rent
Land
Liabilities:
Accounts payable
Salaries
Utilities
Notes payable
Stockholder's equity:
Common stock 222,000 [166,000+56,000]
Retained earnings 112,000 [66,000+46,000]
Total 334,000
