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Kobotan [32]
3 years ago
9

Latasha and Jake need to decide which one of them will take time off from work to complete the rather urgent task of shearing th

eir llamas. Latasha is pretty good with a pair of shears; she can shear the llamas in 1 hour. Jake is somewhat slow; it takes him 6 hours to shear the llamas. Latasha earns $120 per hour as a lawyer, while Jake earns $15 per hour as a barber.
Business
1 answer:
Sindrei [870]3 years ago
7 0

Answer:

Jake should shear the llamas.

Explanation:

Latasha can shear the llamas in 1 hour.

Jake takes 6 hours to shear the llamas.

Latasha earns $120 per hour as a lawyer, while Jake earns $15 per hour as a barber.

Latasha can either earn $120 in an hour or shear a llama.

In 6 hours Jake can earn either shear a llama or earn

= $15\ \times\ 6 

= $90

The opportunity cost of shearing llamas is high for Latasha ($120) while, it is lower for Jake ($90). So, Jake should shear the llamas.

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Answer:

(a) Entry for purchase of patent :

Patent a/c debit $600,000.

To Cash / Bank A/c. $600,000.

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3 years ago
On June​ 30, Police Company issues 6 %​, 10​-year bonds payable with at face value of $ 100 comma 000. The bonds are issued at f
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Answer:

The journal entry upon issuance of the bond is as follows:

Dr Cash             $100,000

Cr Bonds payable                 $100,000

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Dr Interest expense       $6000

Cr Cash                                       $6000

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Upon issuance of the bond with face value and issue price of $100,000, the cash position of the Police company increases by $100,000, hence the cash account should receive a debit of $100,000, but the issue also implies increased debt obligation, as a result , the bonds payable account is also credited with the same amount.

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