Its almost the same thing as price gouging but not really
Answer:
The following information was missing:
"... with receipts for the following expenditures: postage, $36; transportation-in, $13; delivery expenses, $15; and miscellaneous expenses, $25. Palmona uses the perpetual system in accounting for merchandise inventory.
Prepare journal entry to establish the fund on January 1, reimburse it on January 8, and reimburse the fund and increase it to $450 on January 8, assuming no entry in part 2."
Part 1:
January 1, petty cash fund established
Dr Petty cash fund 330
Cr Cash 330
Part 2:
January 8, petty cash expenses
Dr Postage expenses 36
Dr Transportation expenses 13
Dr Delivery expenses 15
Dr Miscellaneous expenses 25
Dr Cash short and over 4
Cr Petty cash fund 93
Part 3:
January 8, petty cash expenses
Dr Postage expenses 36
Dr Transportation expenses 13
Dr Delivery expenses 15
Dr Miscellaneous expenses 25
Dr Cash short and over 4
Cr Petty cash fund 93
January 8, petty cash fund is replenished
Dr Petty cash fund 213
Cr Cash 213
Answer:
(1) 6%; 1.7; 10.20%
(2) 3%; 4; 12%
Explanation:
ROI = Margin × Turnover (Note Margin in % and Turnover in Ratio)
Where,
Margin = Net operating income ÷ Sales
Turnover = Sales ÷ Average operating assets
For Queensland:
Margin = 54,060 ÷ 901,000
= 6% (approx)
Turnover = 901,000 ÷ 530,000
= 1.7
ROI = 6% × 1.7
= 10.20%
For New south wales:
Margin = 74,400 ÷ 2,480,000
= 3% (approx)
Turnover = 2,480,000 ÷ 6,20,000
= 4
ROI = 3% × 4
= 12%
Answer:
D. Return to the original output and price level.
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.
In order to understand both short-run economic fluctuations and how the economy move from short to long run, we need the aggregate supply and aggregate demand model.
Aggregate supply (AS) refers to the total quantity of output (goods and services) that firms are willing to produce and sell at a given price in an economy at a particular period of time.
An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.
Generally, an economy will return to its original level of output (production) and price level when the short-run aggregate supply curve falls (decreases) and no changes in monetary and fiscal policies are implemented. Fiscal policy refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as aggregate demand (AD), aggregate supply (AS), inflation, and employment within a country.
