Answer:
MC = 750
Explanation:
Below is the given values:
Initial quantity = 8
Final quantity = 10
Initial total cost = $9500
Final total cost = $11000
Marginal cost = Change in total cost / Change in quantity
Change in total cost = 11000 - 9500 = 1500
Change in quantity = 10 - 8 = 2
Marginal cost = Change in total cost / Change in quantity
MC = 1500 / 2
MC = 750
Answer:
Cost of Goods Sold Dr.
To Supplies Expense
Explanation:
The journal entry for cost of goods sold should've been:
Cost of goods sold A/C Dr.
To Purchases A/C
(Being cost of goods sold expense recorded)
The wrong entry passed has been:
Supplies expenses A/C Dr.
To Purchases A/C
The rectifying (correcting) journal entry should be:
Cost of Goods Sold A/c Dr.
To Supplies Expenses A/C
(Being rectification entry for cost of goods sold recorded)
Cost of goods sold is an expense and expenses should be debited.
At the same time, purchase being a nominal account, crediting it would reduce the purchases balance.
Supplies expense was wrongly debited so it has been credited to cancel out the effect.
Answer:
1. Dr Accounts Receivable $6
Cr Fees Earned $6
2. Dr Supplies Expense $3
Cr Supplies $3
3. Dr Insurance Expense $12
Cr Prepaid Insurance $12
4. Dr Depreciation Expense $5
Cr Accumulated Depreciation—Equipment $5
5. Dr Wages Expense $2
Cr Wages Payable $2
Explanation:
Preparation of the five journal entries that adjusted the accounts at October 31, 2018.
1. Dr Accounts Receivable $6
Cr Fees Earned $6
($44-$38)
(To Accrued fees earned)
2. Dr Supplies Expense $3
Cr Supplies $3
($10-$7)
(To record Supplies used)
3. Dr Insurance Expense $12
Cr Prepaid Insurance $12
($22-$10)
(To record Insurance expired)
4. Dr Depreciation Expense $5
Cr Accumulated Depreciation—Equipment $5
($12-$7)
(To record Equipment depreciation)
5. Dr Wages Expense $2
Cr Wages Payable $2
($2-$0)
(To record Accrued wages)
Answer:
C) The threat of new entrants.
Explanation:
Porter's Five Forces: It's an analysis helpful for the industries to get the understanding of the loopholes and their weaknesses. Porter suggested that anytime a company goes down, there would be one force involved among the following five forces.
- Threat of new entrants.
- Bargaining power of buyers.
- Threat of substitutes.
- Rivalry among existing competitors.
- Bargaining power of suppliers.
In our case:
- Threat of new entrants force is involved: There is always a threat to the existing companies of the new company entering the market. Some companies doesn't take them seriously and ends up getting damaged. And, as the Goldman suggests that new supplies of the rooms in coming years will hurt the existing companies. So they must act on this information and make a decision to change the event for their own better.
Answer: B.At equilibrium, quantity supplied and quantity demanded are equal ensuring that at that price consumers will not want more and producers will not supply more.
Explanation:
The point where the market demand and marker supply curves intersect is known as the equilibrium point. The price at which equilibrium occurs is the market clearing price.
It is called the market clearing price because at that price both producers and customers are in equilibrium. Above the equilibrium price, there's is excess supply and below the equilibrium price, there's excess demand.
