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3 years ago

The production possibilities curve illustrates the basic principle that

Business

1 answer:

krok68 [10]3 years ago

6 0

Answer:

If all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced

Explanation:

The concept of production possibility curve shows the different commodities that can be produced in a given economy, given the prevailing level of technology, if all available resources are efficiently utilized. The idea behind production possibility curve is that in other for in order to produce a particular commodity, the production of another commodity has to be scarified provided that i.e if all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced

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Which of the following three factors affects an employee's motivation

kvasek [131]

Answer:

There are three major components of motivation which are (i) direction, (ii) intensity, and (iii) and persistency (Fig 1). Direction is a goal which forces the employees to perform an act to achieve the targets.

Explanation:

make sure to follow me and mark me as the brainliest

3 0

3 years ago

Whispering Winds Corp. has the following transactions during August of the current year. Aug. 1 Issues shares of common stock to

k0ka [10]

Answer:

Aug. 1 Issues shares of common stock to investors in exchange for $10,800.

Accounting equation:

Asset + 10,800

Equity +10,800

Journal entry:

cash 18,000 debit

common stock 18,000 credit

Aug. 4 Pays insurance in advance for 3 months, $1,200.

Accounting equation:

Asset + 1,200

Assets - 1,200

Net 0

Journal entry:

prepaid rent 1,200 debit

cash 1,200 credit

Aug. 16 Receives $730 from clients for services rendered.

Accounting equation:

Asset + 730

Equity +730

Journal entry:

cash 730 debit

revenues 730 credit

Aug. 27 Pays the secretary $580 salary

Accounting equation:

Asset - 580

Equity - 580

Journal entry:

salaries expense 580 debit

cash 580 credit

Explanation:

We need to disclose how the impact in the accounting equation and the journal entry should be done:

Aug 1st the common stock is an equity account that is increasing

we receive cash that is an asset

August 4th we are using our cash to pay in advance the rent.

this gives a right to use the rental space for 3-months thus, it is not an expense is a new asset. There is no change in the accounting equation only the composition of assets changed.

August 16th we recognize earnings through revenues account this increases the equity of the company as well as assets.

August 27th in this case we pay the salaries which are an incurred cost, therefore, expense. This decreases equity.

We also use cash making assets to decrease as well.

6 0

3 years ago

Equipment costing $16000 is purchased by paying $4000 cash and signing a note payable for the remainder. The journal entry shoul

grigory [225]

Answer:

c. credit to notes payable

Explanation:

Based on the information given we were told that the Equipment which cost the amount of $16000 was purchased by paying the amount of $4000 as cash which means that if the company sign a NOTE PAYABLE for the remainder. The journal entry should include a: CREDIT TO NOTES PAYABLE

5 0

3 years ago

Island Corporation applies overhead based upon machine-hours. Budgeted factory overhead was $375,000 and budgeted machine-hours

vivado [14]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Island Corporation applies overhead based upon machine-hours. Budgeted factory overhead was $375,000 and budgeted machine-hours were 12,500. Actual factory overhead was $387,920 and actual machine-hours were 13,150.

A) Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 375,000/12,500= $30 per machine hour

B) Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 30*13,150= $394,500

C) Over/under allocation= real MOH - allocated MOH

Over/under allocation= 387,920 - 394,500= 6,580 overallocated

6 0

3 years ago

Bill Evans began Evans Distributors, a sporting goods distribution company, in January 20X1 and engaged in the transactions belo

mihalych1998 [28]

Answer:

Jan. 1

Dr Cash $55,750

Dr Supplies $7,800

Cr Common Stock $63,550

Jan. 2

Dr Purchases $11,850

Cr Cash $11,850

Jan. 3

Dr Accounts Receivable - Rivera Corporation, $ $1,010

Cr Sales Revenue $1,010

Jan. 4

Dr Purchases $2,420

Cr Accounts Payable - Tsang Company $2,420

Jan. 5

Dr Freight Expenses $220

Cr Cash $220

Jan. 10

Dr Sales Returns and Allowances $220

Cr Accounts Receivable - Rivera Corporation $220

Jan. 11

Dr Cash $790

Cr Accounts Receivable - Chu Corporation $790

Jan. 13

Dr Accounts Payable - Tsang Company $2,420

Cr Cash $2,420

Jan. 15

Dr Cash $7,620

Cr Sales Revenue $7,620

Jan. 15

Dr Accounts Receivable $1,315

Cr Bank Charges $39

Cr Sales Revenue $1,276

Jan. 16

Dr Equipment $1,915

Cr Cash $1,915

Jan. 17

Dr Equipment $230

Cr Cash $230

Jan. 18

Dr Purchases $6,300

Cr Accounts Payable - Terri Manufacturing $6,300

Jan. 20

Dr Accounts Receivable - Moloney Corp. $3,380

Jan. 21

Dr Purchases $2,480

Dr Freight Expenses $150

Cr Accounts Payable - Johnson Company $2,630

Jan. 27

Dr Accounts Payable - Terri Manufacturing $6,300

Cr Cash $6,300

Jan. 29

Dr Cash $3,380

Accounts Receivable - Moloney $3,380

Jan. 30

Dr Accounts Payable - Johnson Company $2,630

Cr Cash $2,630

Jan. 31

Dr Cash $8,225

Sales Revenue $8,225

Jan. 31

Dr Accounts Receivable $2,520

Cr Bank Charges $76

Cr Sales Revenue $2,444

Explanation:

Preparation of the Journal Entries

Jan. 1

Dr Cash $55,750

Dr Supplies $7,800

Cr Common Stock $63,550

($55,750+$7,800)

(To record the amount invested into the business along with supplies)

Jan. 2

Dr Purchases $11,850

Cr Cash $11,850

(To record the purchase of merchandise inventory by cash)

Jan. 3

Dr Accounts Receivable - Rivera Corporation, $ $1,010

Cr Sales Revenue $1,010

(To record the sale of merchandise on account)

Jan. 4

Dr Purchases $2,420

Cr Accounts Payable - Tsang Company $2,420

(To record the purchase of merchandise inventory on account)

Jan. 5

Dr Freight Expenses $220

Cr Cash $220

(To record the payment of freight charges)

Jan. 10

Dr Sales Returns and Allowances $220

Cr Accounts Receivable - Rivera Corporation $220

(To record the return of merchandise that was sold to Chu Corporation)

Jan. 11

Dr Cash $790

Cr Accounts Receivable - Chu Corporation ($1,010 - $220) $790

(To record the collection of amount from credit sales)

Jan. 13

Dr Accounts Payable - Tsang Company $2,420

Cr Cash $2,420

(To record the payment made to credit purchases)

Jan. 15

Dr Cash $7,620

Cr Sales Revenue $7,620

(To record the cash sales)

Jan. 15

Dr Accounts Receivable $1,315

Cr Bank Charges ($1,315*3/100) $39

Cr Sales Revenue $1,276

($1,315-$39)

(To record the sales made on credit card)

Jan. 16

Dr Equipment $1,915

Cr Cash $1,915

(To record the purchase of equipment on account)

Jan. 17

Dr Equipment $230

Cr Cash $230

(To record the payment of freight charges)

Jan. 18

Dr Purchases $6,300

Cr Accounts Payable - Terri Manufacturing $6,300

(To record the purchase of merchanise inventory on account)

Jan. 20

Dr Accounts Receivable - Moloney Corp. $3,380

Cr Sales Revenue $3,380

(To record the sales made on account)

Jan. 21

Dr Purchases $2,480

Dr Freight Expenses $150

Cr Accounts Payable - Johnson Company $2,630

($2,480+$150)

(To record the purchase of inventory on account)

Jan. 27

Dr Accounts Payable - Terri Manufacturing $6,300

Cr Cash $6,300

(To record the payment made to credit purchases)

Jan. 29

Dr Cash $3,380

Accounts Receivable - Moloney $3,380

(To record the amount received from credit sales)

Jan. 30

Dr Accounts Payable - Johnson Company $2,630

($2,480+$150)

Cr Cash $2,630

(To record the payment made to credit purchases)

Jan. 31

Dr Cash $8,225

Sales Revenue $8,225

(To record the cash sales)

Jan. 31

Dr Accounts Receivable $2,520

Cr Bank Charges ($2,520*3/100) $76

Cr Sales Revenue $2,444

($2,520-$76)

(To record the sales made on credit card)

7 0

3 years ago