Answer:
The percentage of Indiana residents with a college degree rises from 25% to 30%.
Explanation:
Human capital is one of the most important (according to some economists the most important) aspect for economic growth. If college graduates in Indiana go from 25% to 30%, it means that Indiana's human capital has improved.
With improved Human Capital, now Indiana can produce better steel and corn, or even produce other things, because its college graduates have acquire the necessary knowledge to do so. This will in turn lead to economic growth and a higher standard of living.
Answer:
A. $170,900
B. $20,300
C. $ 19,800
Explanation:
A. Accounting Equation ;
Assets = Equity + Liabilities
Therefore Equity = Assets - Liabilities
Total Assets - Caraway Seed Company
Current assets $ 48,800
Net fixed assets $ 248,800
Total Assets $ 297,600
Total Liabilities - Caraway Seed Company
current liabilities $ 28,500
long-term debt $ 98,200
Total $126,700
Equity = $ 297,600 - $126,700 = $170,900
B. Net working capital = Current Assets - Current liabilities
= $ 48,800 - $ 28,500
= $20,300
C. Net working capital = Current Assets - Current liabilities
= $ 48,800 - ( $18,500 + 10,500)
= $ 19,800
Answer:
Journal Entry for establishing a Petty cash fund
Date Particulars Debit Credit
Jan 1 Petty cash A/c $270
To Cash A/c $270
(Being Petty cash fund established)
Journal Entry for reimbursement of petty cash
Date Particulars Debit Credit
Jan 8 Postage A/c $36
Transportation A/c $13
Delivery Expense A/c $15
Miscellaneous Exp A/c $25
To Cash A/c $89
(Being reimbursement of petty cash expenses
incurred from petty cash fund)
Journal entry for Increasing the limit of Petty cash fund
Date Particulars Debit Credit
Jan 8 Petty Cash A/c $50
To Cash A/c $50
(Being Petty cash fund limit extended to $320 i.e., we have
to add $50 to existing fund in order to make it $ 320.)
Answer: borrowing.
When you have money you have to decide whether you want to spend/invest it or save for future spending. If you save it is because you can earn interests and increase the value of your money.
Yet, you have a third option to consider. You can borrow money. Whether it is better to borrow money to spend today is a financial issue, and the convenience will depend on the cost of that money (the interests that you have to pay to the bank) and the benefits of using it.
Answer:
Explanation:
• Variable costs are costs that varies with activity level. It means that these costs changes as more and more goods and services are produced by a company. Total variable cost changes with change in output produced by a firm in the long run.
Examples of variable costs are costs of raw materials used in producing goods, direct labor costs, sales commission etc.
• Fixed costs are costs that does not vary with activity level. This means that these costs remains the same as more and more goods are produced by a company. The total fixed cost does not change with changes in output produced by a company in the short run.
Examples are rent payments, salaries, depreciation.
•Mixed costs are costs that have components of both fixed and. variable costs. The fixed part of mixed cost remains unchanged as activity level increases or decrease while the variable part changes with activity level. The fixed part of a total cost function of a mixed cost remains the same as activity level increases in the short run, while the variable part changes with output level in the long run.
Examples are utilities, insurance, operating license
•Step costs. These are costs that remains the same at an activity level but increases or decreases when the threshold of an activity is achieved.
Example is a factory production supervisor salary
