All societies face a trade-off between equality and efficiency.

Carl has a checking account. He'd like to find out as soon as his refund check from the IRS is deposited in his account. What sh

kolbaska11 [484]

Answer: D

Explanation:

Set up an alert.

5 0

3 years ago

"Minimum wage laws cause unemployment because the legal minimum wage is set" 9) A) above the market wage, causing labor demand t

Vitek1552 [10]

Answer: E) above the market wage, causing labor demand to be less than labor supply.

Explanation:

Minimum wage simply refers to the lowest wage that employers can pay their workers. Minimum wage is a form of price floor which means that it's typically higher than the equilibrium or market wage.

In this case, since it's higher than the market wage, there'll be an increase in the supply of labor as those that are unemployed will be willing to work duw to the increase in the wage rate.

On the other hand, there'll be a reduction in the demand for labor as employers typically will want to reduce cost and won't be interested in employing more workers.

Therefore, the correct option is E

5 0

3 years ago

Holly would like to plan for her daughter's college education. She would like for her daughter, who was born today, to attend co

dusya [7]

Answer:

Holly saved $3,362.76 at the end of each year.

Explanation:

Solution

Given that:

We solve for the computation of Tuition Fees given as:

First Year tuition fees will be $13,000 with inflation at 7% for 18 years.

That is, $13,000 * (1.07)^18 = $13,000 * 3.38 = $43,940

Now,

For the remaining three years we have the following given below:

College Year 1= $43,940

College Year 2 = $47,015.80, $43,940 * 1.07

College Year 3 = $50,306.91, $47,015.80 * 1.07

College Year 4 = $53,828.39, $50,306.91 * 1.07

Thus,

The Present Value of the college fees at the beginning of college at 10% is given as follows:

Year PVF at 10% College Fees Present Value

1 0.91 $43,940.00 $39,985.40

2 0.83 $47,015.80 $39,023.11

3 0.75 $50,306.91 $37,730.18

4 0.68 $53,828.39 $36,603.31

TOTAL : $153,342.00

Thus,

Holly should have accumulated $153,342 till beginning of her daughter's college.

Let us recall the accumulation factor for annual annuity is given as:

(1 + .10)^18 - 1/. 10

=45.60

Therefore, the Annual Investment should be $153,342 / 45.60

= $3,362.76

6 0

3 years ago

Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit

saveliy_v [14]

Answer: C. Debit Work in Process Inventory $110.000, debit Factory Overhead $40,000, credit Factory Wages payable $150,000

Explanation:

Minstrel incurred a factory payroll of $150,000 and $40,000 was indirect.

This $40,000 indirect payroll cost will be treated as Factory overhead and will be debited.

The remaining $110,000 is direct labor costs and it will be apportioned to inventory therefore it will be debited to the Work in Process account.

The total figure of $150,000 represents the amount that the company owes its factory staff so it will be credited to factory overhead to recognize it as a liability.

4 0

3 years ago

Pozzi Company, a cash basis business, received $16,930 cash as payment on a loan Pozzi made to a business associate two years ag

blsea [12.9K]

Answer:

cash 16,930

note receivable 15,000

interest revenue 1, 930

Explanation:

Pozzi works his accounting under cash basis. This means it do not recognize any interest revenue over the past of time. It will recognize the gain on the loan entirely at maturity, when the cash is received.

Therefore his journal entry at maturity will be:

a debit to cash forthe received amount

a credit to note receivable, to write-off the balance

and a credit to interest revenue to recognize this gain.

3 0

4 years ago