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4 years ago

Classify each resource used in production as land, labor, capital, or entrepeneurs.

Business

1 answer:

sveticcg [70]4 years ago

8 0

Answer:

1. Aunt Sandy's Jammin' Jellies (the business) - Entrepreneurs

Entrepreneurship refers to the process of bringing together the various other factors of production to be able to produce goods and services. Aunt Sandy's as a business is an entrepreneur as it brought together factors of production to make Jellies.

2. Anika, a server at Sonic Drive-In - Labor

Labor refers to the actual people who contribute to the business. Anika is a server at the Drive- In and so works there contributing to the success of the business so she is Labor.

3. Your favorite bartender - Labor

Like Anika above, your favorite bartender is also a person contributing to the success of the bar so is considered labor.

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Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $39.8 million ca

Phantasy [73]

Answer:

A a) Journal Entry for Precision Castparts

Debit Bank $39.8 million Credit Note Payable $39.8 million

b) Journal Entry for Midwest bank

Debit Note Receivable $39.8 million Credit Bank $39.8 million

B a) Journal Entry for Precision Castparts

Debit Interest Expense $796,000 Credit Interest Payable $796,000

b) Journal Entry for Midwest bank

Debit Interest Receivable $796,000 Credit Interest Income $796,000

C a) Journal Entry for Precision Castparts

Debit Note Payable $39.8 million Debit Interest Payable $796,000 Debit interest Expense $2,388,000 Credit Bank $42,984,000

b) Journal Entry for Midwest bank

Debit Bank $42,984,000 Credit Note Receivable $39.8 million Credit Interest Receivable $796,000 Debit interest Income $2,388,000

Explanation:

Interest up to 31 Dec 2021

Interest = 39,800,000*8% = $3,184,000*3/12 =$796,000

8 0

3 years ago

Select all that apply Job cost sheets can be used to: (Check all that apply.) Multiple select question. provide a subsidiary led

Tems11 [23]

Answer:

provide a subsidiary ledger for the finished goods inventory account

monitor costs incurred to date and to predict and control costs for each job

provide a permanent record for the cost of goods sold account

Explanation:

job cost sheet is a recording of all expenses that should be related to the job segment or an individual job.

Also it give the subsidiary ledger for the finished goods. It checks the cost that should be incurred till date and to predict and control the cost. Moreover, it gives the permanenet record for the cost of goods sold

These 3 above statements should be considered

6 0

3 years ago

Oil Wells offers 6.5 percent coupon bonds with semiannual payments and a yield to maturity of 6.94 percent. The bonds mature in

kozerog [31]

Answer:

$ 975.93

Explanation:

The market value of the bond can be computed using the pv formula in excel as follows:

=-pv(rate,nper,pmt,fv)

rate is the semiannual yield to maturity i.e 6.94%/2=3.47%

nper is the number of semiannual coupon payments the bondholders would receive ,which is 7*2=14

pmt is the semiannual coupon payment=$1000*6.5%*6/12=$32.5

fv is the face value at $1000

=-pv(3.47%,14,32.5,1000)

=$ 975.93

The price of the bond is $ 975.93 which means that it would be issued at a discount of $ 24.07 when compared to face value of $1000

3 0

3 years ago

What would life as a market economy in puerto rico be like???

scoundrel [369]

Answer:

bad.

Explanation:

bad.

6 0

3 years ago

lue Box Beach Chairs has the following standards to make beach chairs: Standard Quantity Standard Price Direct materials 2.2 pou

inessss [21]

Answer:

Direct labor rate variance= $1,152 favorable

Explanation:

Giving the following information:

Standard Direct labor rate= $13.00 per hour

It used 3,840 labor hours for $12.70 per hour.

To calculate the direct labor rate variance, we need to use the following formula:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (13 - 12.7)*3,840= $1,152 favorable

4 0

3 years ago