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Vladimir [108]
3 years ago
11

Suppose at the going wage rate of $20 per hour, firms can hire as many hours of janitorial services as they desire. If any firm

tries to lower the wage rate to $19, it will not be able to hire any janitor. What does this indicate about the supply curve for janitorial services?
a. Supply is perfectly inelastic.
b. Supply is unit-elastic.
c. Supply is relatively inelastic.
d. Supply is perfectly elastic.
Business
1 answer:
Reika [66]3 years ago
3 0

Answer:

d. Supply is perfectly elastic.

Explanation:

Perfectly elastic supply is when a change in price causes supply to fall to zero.

The supply curve is usually an horizontal line.

I hope my answer helps you

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The following are a series of unrelated situations. Answer the questions relating to each of the five independent situations as
Solnce55 [7]

Answer:

Determine its bad debt expense for 2020. Bad debt expense for 20  

Cr Bad Debt Expense $ 524 - Credit, which means a profit in the income statement.

Allowance for Uncollectible Accounts Balance

$ 4,380  - $524 = $ 3,856

Explanation:

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Dr Accounts receivable $ 48,200

Cr Allowance for Uncollectible Accounts $ 4,380

Net Credit Sales $ 1,253,200

Buffalo Company estimates its bad debt expense to be 8% of gross accounts receivable.

Determine its bad debt expense for 2020. Bad debt expense for 20  

Dr Allowance for Uncollectible Accounts $ 524

Cr Bad Debt Expense $ 524

Allowance for Uncollectible Accounts Balance

$ 4,380  - $524 = $ 3,856

The allowance for uncollectible Accounts must reflect as balance the value estimated as bad debts, which is 8% of gross accounts receivable. $48,200*0,08 = $3,856

If the company applies the allowance method, it means that the account Allowance for Uncollectible Accounts must show as balance the % estimated of accounts receivables as CREDIT, if the company had balances that differ from that value then it must be adjusted to the new estimated value.

Bad accounts are those credits granted by the company and there is no possibility of being charged.

"When customers buy products on credits but the company cannot collect the debt, then it's necessary to cancel the unpaid invoice as uncollectible."

One way is to directly cancel bad debts at the time it was decided that the credit is bad, the total amount reported as bad debt expenses negatively affect the income statement and the accounts receivable are reduced by the same amount, less assets

The other way is to determine a percentage of the total amount of accounts receivable as bad debts, there are many ways to analyze accounts receivable and calculate the value of bad debts.

When the company has the percentage of uncollectible accounts, the required journal entry is Bad Expenses (debit) with Allowance for Uncollectible Accounts (credit)

At the time of cancellation, since the expenses were recognized before, we only use the Allowance for Uncollectible Accounts (Debit)  with accounts receivable (credit), with this we are recognizing the bad credit of the company.

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3 years ago
The discount rate is the: multiple choice 1 interest rate at which banks can borrow reserves from other banks. lowest interest r
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Answer:

a. The discount rate is the

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The discount rate is the interest rate that the FED charges commercial banks, credit unions, or other financial institutions for lending them money.

b. If the Fed were to decrease the discount rate, banks will borrow

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Lowering the discount rate is considered part of an expansionary monetary policy since banks will borrow more money and lend more money to the public, increasing the money supply.

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3 years ago
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Investing money in a retirement fund is part of a plan for achieving _____. A. Immediate goals b. Long term goals c. Short term
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The final task in designing a management information system (mis) is _____.
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Dimas [21]

Answer:

"Problem recognition" is the correct answer.

Explanation:

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