Answer:
The total amount of cash that should be reported on Chen Inc., balance sheet at June 30th is $15,250
The answer is option A.
Explanation:
The total amount of cash that should be reported on Chen Inc., balance sheet at June 30th is as follows:
$ $
Balance as per bank statement at June 30 16,750
Add: Deposit in transit ($10,000 - $7,900) 2,100
Less:
Outstanding Checks 3,600
Adjusted Cash Balance $ 15,250
Balance as per accounting records at June 30 16,170
Add: Interest Income 25
Less:
NSF Checks 935
Bank Fees 10 945
Adjusted Cash Balance $ 15,250
Answer: c. Increase in quantity supplied.
Explanation: an increase in the price of a good would lead to an increase in the quantity of the good supplied. This follows the fundamental economic theory of supply or the law of supply which states that all else being equal, an increase in the price of good and services would lead to a corresponding increase in the quantity of the good or services supplied. This is quite true and the rationale behind it is the potential increase in returns per unit of good sold to the supplier as a result of the increase in price.
Answer:
a. $50, $10
Explanation:
The accounting result would be explicit income and expenses:
60 sales and 10 cost of the ingridients = 50 dollar gain
While the economic result will also consider implicit cost. Which is the opportunity cost. This is the amount of revenue that could be generated for the factor in other alternative.
In this case we have a 50 dollar gain less the 40 dollar we coudl have earned doing the other job the economic gain is 10 dollars
A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a corporation earns a profit or surplus, the corporation is able to re-invest the profit in the business (called retained earnings) and pay a proportion of the profit as a dividend to shareholders.
Answer:
Individual (Private) Goods : Excludable, Rival
Public Goods : Non Excludable, Non Rival
Merit Goods : Positive externality goods, underproduced.
Explanation:
Goods are individual (private) / merit / public ; on the basis of rivalry & excludability.
Excludable goods are the goods that can be feasibly excluded from being consumed by non payers. Non excludable goods can't be feasibly prevented to be used by non payers.
Rival goods are the goods whose consumption by a consumer reduces their availability for other consumers. Non rival goods' consumption by a consumer doesn't reduce their availability for other consumers.
Individual (Private) goods are both - excludable & rival. Eg : Food, Clothes etc
Public Goods are both - non excludable & non rival. Eg : Air, Street Light
Merit goods are positive externality i.e positive side effect goods. They have extra unevaluated social benefit, which under evaluates their total benefit. As per market private benefit = private cost equilibrium condition : their under evaluated benefit curve leads to - equilibrium below optimal socially desirable production quantity. Eg Education