All categories

3 years ago

If the midwest experiences a severe drought that damages the corn crops, we should expect the:_________.

Business

1 answer:

kozerog [31]3 years ago

4 0

Answer:

B) The Supply of corn will decrease and the price of corn will rise.

Explanation:

Option B is correct because the drought has damaged the corn crops. Therefore, this will affect the supply of corn in the market. Moreover, the damage of corn crops will shift the supply curve leftwards and this shift in the supply curve will push the prices upwards. Thus, the damage of corn crops will increase the prices due to a decrease in its supply.

You might be interested in

A company's income statement showed the following: net income, $134,000; depreciation expense, $30,000; and gain on sale of plan

worty [1.4K]

Answer:

E. $148,600

Explanation:

Cash flow from operating activities.

Net income. $134,000

Add: Depreciation. $30,000

Less: Gain on sale ($4,000)

Changes in working

Capital

Add: decrease in

Accounts receivable $9,400

Less: increase in

Merchandise inv. ($18,000)

Less: increase in

Prepaid expenses ($6,200)

Add: increase in

Accounts payable $3,400 ($14,600)

Net cash provided used by $148,600

Operating activities

4 0

2 years ago

Suppose bundle a contains 5 cds and 5 dvds and bundle b contains 88 cds and 33 dvds. if a consumer is able to rank different com

Fofino [41]

<span>If a consumer was asked to rank different combinations of goods and services terms of how much utility they provide, then a bundle with a total of 112 cds and dvds would rank higher than a bundle with a total of 10 cds and dvds, if based on total of goods only. This does not take into account the contents of the media.</span>

5 0

3 years ago

Prepare the adjusting journal entries that Del GAto Clinic must record as a result of preparing the bank reconciliation

Goshia [24]

Answer:Please refer to the explanations section

Explanation:

Bank Reconciliation is a process where we reconcile Business's cash books Balances and Bank account Balance.

Journal Entries

a. Dr Outstanding Checks $1829

Cr Bank (Bank Account Balance) $1829

Del Gato Clinic issued checks amounting to $1829 and The Bank has not processed these checks. This means Del Gato's Bank balance doesnot include the effect of these checks. The Bank account balance must be reduced by $1829

b. Dr Bank Charges expense $16

Cr Bank (cashbook balance) $16

Del Gato Clinic incurred an expense of $16 in Bank charges. Cashbook balance must reduced by $16.

c. Dr Bank (Bank account balance) $476

Cr utility Bill Payment check $476

Dr Bank (Cashbook balance) $476

Cr utility Bill Payment check $476

check number 919 was cancelled but Del Gato Clinic mistakenly recorded it in the cashbooks and the bank processed the check. We need to adjust both Cash books and Bank account by processing a reversal journal entry debit Bank and credit Utility Bill payment

d. Dr Bank (Bank account balance) $2856

Cr Cash receipts $2856

Del Gato Clinic placed cash receipts after banking hours, The Bank account balance must be increase by $2856 to reflect the effect of the receipts received

6 0

2 years ago

What careers are in the Information Support and Services career pathway of the IT career cluster? (15 points for you)

yKpoI14uk [10]

I think it’s “help desk specialists, PC support specialists”

6 0

3 years ago

Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $

Viefleur [7K]

Answer:

A. $2.40 per Machine hour

B. Underapplied = $10,000

C. cost of goods sold (debit) $10,000 , overheads (credit) $10,000

Explanation:

A) Compute the manufacturing overhead rate for the year

Overhead Rate = Total Fixed Overheads / Budgeted Activity

= $300,000 / 125,000 Machine hours

= $2.40 per Machine hour.

B) What is the amount of under- or over applied overhead at December 31st?

Under Applied Overheads = Actual Overheads > Applied Overheads

Over Applied Overheads = Actual Overheads < Applied Overheads

Actual Overheads = $322,000

Applied Overheads = $2.40 × 130,000 hours = $ 312,000

Underapplied = $10,000

C) Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold.

cost of goods sold (debit) $10,000

overheads (credit) $10,000

7 0

3 years ago

Read 2 more answers