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Hatshy [7]
3 years ago
8

A local transit authority charges​ $1 for a bus ride. An economics study suggests that in the price range from​ $0.50 to​ $1.50,

the elasticity of demand for bus trips is 1.2. To increase its​ revenue, the transit authority should
Business
1 answer:
Sunny_sXe [5.5K]3 years ago
5 0

Answer:

To increase its revenue, transit authority should lower the fare.

Explanation:

The 'elasticity of demand' measures the change in consumers response in quantity he demands as a result of the change in price, other factors remaining same.

A product is called elastic if with the increase or decrease in price, there is a drastic change in the quantity demand of the product. If the transit authority will lower its fare, then their revenue will increase as the elasticity of demand for bus trip is 1.2. By lowering the fare, the demand would increase and their revenue will increase.

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Bruno Company had a $200,000 beginning balance in bonds payable and a $210,000 ending balance in bonds payable. During the year,
Ymorist [56]

Answer:

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4 0
3 years ago
Barry, a solvent individual but a recovering alcoholic, embezzled $6,000 from his employer. In the same year that he embezzled t
skad [1K]

Answer: Barry must include $6,000 in gross income from discharge of indebtedness

Explanation:

Feom the question above, we are told that Barry embezzled $6,000 from his employer and that even though his employer discovered the theft, the employ did not fire him and told him that he did not have to repay the $6,000 if he attend Alcoholics Anonymous. Barry met the conditions and the employer canceled the debt.

In this case, Barry will have to include the $6,000 he stole in gross income from discharge of indebtedness. The gross income has to do with the sum of the wages, profits, salaries, rents, interest payments, and every other earnings, before the deductions of taxes or other deductions. Since Barry stole the money and.he.has been forgiven, the $6,000 has to be included in the gross income from discharge of indebtedness.

7 0
3 years ago
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credi
borishaifa [10]

Answer:

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $330,000. During 2021, Halifax sold merchandise on account for $11,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $345,000 in sales for credit, with $191,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.

Explanation:

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $330,000. During 2021, Halifax sold merchandise on account for $11,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $345,000 in sales for credit, with $191,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.

6 0
3 years ago
Account Title Debit Credit Cash $ 6,400 Accounts receivable 24,500 Office supplies 7,700 Trucks 186,000 Accumulated depreciation
olga nikolaevna [1]

Answer:

TOTAL CURRENT ASSETS  $38,600

TOTAL ASSETS  $233,284

TOTAL CURRENT LIABILITIES  $23,400

TOTAL LIABILITIES  $69,400

TOTAL EQUITY  $163.884

TOTAL EQUITY & LIABILITIES  $233.284

Explanation:

It's necessary to start by preparing the balance sheets with the information available, as result we have a difference in the accounting equation of $0,586 because it's necessary to prepare the income statement to define how much of the income it's keep as retained earnings.

Balance Sheets.

Assets Dec 31

Cash $6,400

Accounts Receivable $24,500

Supplies $7,700

TOTAL CURRENT ASSETS  $38,600

Property and Equipment $186,000

Accumulated Depreciaiton -$38,316

Land $47,000

TOTAL ASSETS  $233,284

Accounts Payable  $10,400

Interest Payable  $13,000

TOTAL CURRENT LIABILITIES  $23,400

Long Term Notes Payables  $46,000

TOTAL LIABILITIES  $69,400

Common Stock  $25,298

<u>Retained Earnings  ($138,000 + 0,586)=138,586</u>

TOTAL EQUITY  $163,884

TOTAL EQUITY & LIABILITIES  $233,284

Income Statement  

Sales $121,000  

Depreciation -$24,714  

MARGEN BRUTO  $96,286  

Salaries expense -$65,660  

Office supplies expense -$5,000  

Other Income  -$12,040  

Income Statement  $13,586  

Dividends  $13,000  

Retained Earnings = $0,586

4 0
3 years ago
1. A department is looking for an entry-level cashier. One of the job applicants is a cashier with 30 years of experience as a c
nevsk [136]

The candidate with 6 months of experience shall be hired by the department for the position as an entry-level cashier.

<h3>Who is cashier?</h3>

A cashier is a professional who has expertise in managing the cash inflows and outflows of an organization and deal with the cash transactions of an organization on a daily basis.

A cashier who has 6 months of experience be more suitable for such role in the department, and will also take lesser pay than the one with 30 years of experience.

Hence, it may be concluded that the cashier with less experience will be a suitable one to be hired at the position as such.

Learn more about cashier here:

brainly.com/question/27622487

#SPJ1

4 0
2 years ago
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