Answer:
The Journal entries are as follows:
(i) On December 31,
No entry
(ii) On December 31,
Amortization expense A/c Dr. $16,000
To Patents A/c $16,000
(To record the amortization expenses)
Workings:
Amortization expense:
= (Purchasing cost of patent ÷ Estimated useful life) × Time period
= ($144,000 ÷ 6) × (8/12)
= $24,000 × (8/12)
= $16,000
Answer:
B. 200
Explanation:
At Break even point:
Total costs= Total revenue
In the given question
Total costs=Total variable costs+total fixed costs
=$1 *number of cards to be sold+$400
Total revenue=$3*number of cards to be sold
$1 *number of cards to be sold+$400=$3*number of cards to be sold
$3*number of cards to be sold-$1 *number of cards to be sold=$400
$2*number of cards to be sold-=$400
Number of units to be sold=$400/$2=200
So based on the above calculations, the answer shall be B. 200
Answer:
Management
Explanation:
Management can be regarded as process that encompass planning, decision making as well as organizing and leading in order to Control human resources, information resources as well as financial resources of organization in order to achieve the goals set by the organization. it should be noted that management consists of the interlocking functions of ceating corporate policy and organizing,planning,controlling and directing an oragunzation’s resources in order to achieve the objectives of that policy, which is Peter Drucker point of view about management.
:
Compared to the price elasticity of demand for gasoline, the demand for Texaco gasoline will be <u>more elastic</u>.
Price elasticity of call for is the ratio of the proportion change in the amount demanded of a product to the percentage exchange in rate. Economists hire it to apprehend how supply and demand trade when a product's price changes.
If a fee alternate for a product causes a giant change in both its supply or call for, its miles are considered elastic. Generally, it manner that there are acceptable substitutes for the product. Examples would be cookies, luxury cars, and coffee.
In commercial enterprise and economics, price elasticity refers to the degree to which people, purchasers, or producers alternate their demand or the quantity supplied in response to fee or earnings adjustments. it is predominantly used to evaluate the trade-in consumer call for because of an alternate in an excellent or carrier's price.
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