Answer:
Rent expense of $2,000
Prepaid rent of $22,000
Explanation:
Since we were told that On November 1,2019 Movers Inc., paid the amount of $24,000 for a 2 years' rent which will start or begin on November 1 which means Movers' year-end financial statements as of December 31,2019 will show:
Rent expense of $2,000
Prepaid rent of $22,000
The rent expense of $2,000 is calculated as
(1÷12*$24,000)=$2,000
The prepaid rent of $22,000 is calculated as
$24,000-$2,000
$22,000
Answer and Explanation: From the following given case/scenario, we can state that , GoGo motors is trying to recombining and redeploying existing core competencies in order to compete with the other firms present in the industry in the upcoming future markets. Since, the company has already realized that there is a vast growing demand for green automobiles and thus it has created a new market opportunity.
Answer:
a. Supply increases, Supply curve shifts to the right
b. Demand decreases, Demand curve shifts to the left
c. Demand increases, Demand curve shifts to the right
d. Supply decreases, Supply curve shifts to the left
Explanation:
a. There have recently been some important cost-saving inventions in the technology for making paint- Supply will increase due to lower cost in production. Shifting the supply curve to the right. Price of paint will fall and quantity will increase.
b. Paint is lasting longer, so that property owners need not repaint as often- Demand for paint will fall due to its long lasting. This shifts the demand curve to the left decreasing the price and quantity of paints.
c. Because of severe hail storms, many people need to repaint now- Demand for paint will increase shifting the demand curve to the right increasing the price and quantity of paints.
d. The hail storms damaged several factories that make paint, forcing them to close down for several months- Supply of paint will decrease as factories close down. This will shift the supply curve to the left increasing the price of pain and decreasing the quantity of paint.
Usually an increase in price means a decrease in supply and or a raise in demand. He quickly changes this by increasing the production, thus increasing the supply, lowering the prices.
Hope this helps,
Jeron
