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3 years ago

An individual's demand curve for a good can be derived by measuring the quantities selected as

Business

1 answer:

Montano1993 [528]3 years ago

6 0

Answer:

The price of the good changes.

Explanation:

An individual's demand curve for a good can be derived by measuring the quantities selected as the price of the good changes.

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Suppose Piranha sells 3,500 books on account for $17 each (cost of these books is $35,700) on October 10, 2018 to The Textbook S

Natali5045456 [20]

Answer:

1. 10 Oct 2018 Inventory $59500 Dr

Accounts Payable $59500 Cr

2. 13 Oct 2018 Accounts Payable $1700 Dr

Inventory $1700 Cr

Explanation:

1. The Textbook store is purchasing the books at $17 per book and in total 3500 books are purchased on credit. So, we debit the inventory account by 59500 (3500 * 17) and credit the Accounts Payable by 59500.

2. This transaction relates to Purchases return which in this case is our inventory of books. Textbook store will record this transaction in its books by debiting the Accounts Payable account by the value of the books returned 1700 (170* 100) and credit its inventory by 1700. The last line pertains to total estimation of sales returns by Piranha so we do not need to consider that while preparing transactions in Textbook store's books.

5 0

3 years ago

On March 1, 2019, Jasper Company purchased inventory costing $87,000 by signing a 10%, nine-month, short-term note payable. J

padilas [110]

Answer:

1 March 2019 Purchases $87000 Dr

Notes payable $87000 Cr

31 September 2019 Interest expense $5075 Dr

Interest Payable $5075 Cr

Explanation:

The purchase of inventory against notes payable will increase asset-inventory and will be recorded as a debit to purchases. The credit side of the inventory will be a current liability of notes payable for the amount of purchases.

The note is a 9 month note and the interest will be paid at maturity on 30 November 2019. Following the accrual principle, the note accrues interest over its 9 months period equally. So, on 31 September, the interest on note for 7 months will be accrued.

Interest for 7 months = 87000 * 0.1 * 7/12 = $5075

This will be recorded as an expense and a liability as it is unpaid.

8 0

3 years ago

Read 2 more answers

Johnson Industries manufactures a popular interactive stuffed animal for children that requires four computer chips inside each

Sladkaya [172]

Answer:

January February March

Budgeted Materials Purchase (units) 28,600 18,400 18,000

Budgeted Materials Purchase $85,800 $55,200 $54,000

Explanation:

Direct materials budget for the first quarter

January February March

Budgeted Production 6,000 4,600 4,600

Budgeted Material 24,000 18,400 18,400

Add Budgeted Closing Inventory 4,600 4,600 4,200

Materials Needed 28,600 23,000 22,600

Less Budgeted Opening Inventory 0 (4,600) (4,600)

Budgeted Materials Purchase 28,600 18,400 18,000

Cost of computer chip $3 $3 $3

Budgeted Materials Purchase $85,800 $55,200 $54,000

6 0

3 years ago

Your uncle is considering investing in a new company that will produce high quality stereo speakers. The sales price would be se

mojhsa [17]

Answer:

Break-even point (BEP)= 22,286 units

Explanation:

Breakeven point (BEP) is the level of activity that equates the total cost to the total revenue. At the break-even point the business makes no profit and no loss.

Break-even point = Total fixed cost for the period /( selling price - unit variable cost)

Variable cost= 75

Selling price= 1.70 times × 75 = $127.5

BEP = 1,170,000/(127.5-75)

= 22,285.71 units

BEP =22,286 units

3 0

2 years ago

6. Godiva & Company was recently formed with a $5,000 investment in the company by stockholders. The company then borrowed $

eduard

Answer:

Godiva& amp Company $

Cash(capital) 5,000.00

Cash(loan) 2,000.00

Inventory 1,000.00

Equipment 5,000.00

Cash(payment for equipment (2,000.00)

Total Assets 11,000.00

Explanation:

The approach I took in computing total assets for the company was to reflect the impact of each transaction on the asset of the company ,where asset increases is a positive figure and negative when it reduces for instance payment of $2000 in respect of equipment purchase.

4 0

3 years ago