Answer: Respond to Economic Incentives
Explanation:
Economists assume that rational people respond to Economic Incentives because it is a widely held fact in Economics that people choose goods and services based on a cost-benefit analysis and if there are incentives, the scales will be tipped more in favour of the benefits. Rational people will respond by getting that good and/or service.
Examples include cash rewards, bonuses, income and profits which are considered extrinsic incentives. There are also non-monetary incentives known as external incentives such as peer recognition, fame, social status and power.
Answer:
Explanation:
1.August 6.
Account Receivable-Ds Unlimited (64*170) Dr.$10,880
Sales Revenue Cr.$10,880
Cost of Goods Sold ($150*64) Dr.$9,600
Inventory Cr.$9,600
2.August 10.
Inventory/Sales Revenue (4*170) Dr.$680
Account Receivable-Ds Unlimited Cr.$680
3. August 14.
Cash (10,880-680)*99% Dr.$10,098
Cash Discount Dr.$ 102
Accounts Receivable Cr.$ 10,200
Note:
The gross method of discount is used which means at time of receipt, discount impact is taken. In this question 1/10 means 1% discount allowed if payment made within 10 days of sale. This means DS unlimited qualifies for cash discount as payment is received on 14 August
Answer:
the maturity date is August 12
Explanation:
The computation of the maturity date of 60 day note receivable dated on June 17 is as follows
Here we have to determine the 60 days from June 17
So in June, the remaining days left would be = (30 - 17) = 13
31 days in July
And, the rest of the days i.e. 12 days in August
So, the maturity date is August 12
Hence, the same would be considered
and, the same is relevant
Answer:
1.Generally consists of a company's cumulative net income less any net losses and dividends declared since its inception.
Explanation:
Retained earnings is an element of the balance sheet that represents the accumulated net income and losses and the amount paid to the shareholders over the years as dividend.
Each year, the company's net income or loss from the statement of profit or loss is posted into the retained earnings account.
It is an integral part of the owners equity along with ordinary share capital.
As such, retained earnings generally consists of a company's cumulative net income less any net losses and dividends declared since its inception.
The economic way of thinking is more than money, budgets,and the stock market. this is because when thinking of the economy, it includes the community and choices must be made to improve it. some economic decisions are costly, and could negatively affect the economy by making the costs of things skyrocket, ruining benefits of others that relied on them and will now put jobs and businesses into bankruptcy.