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dedylja [7]
3 years ago
7

Bobby is a skilled mechanic who is also good at mowing lawns. He can mow his lawn faster and cheaper than the local lawn care se

rvice, Weeds. Bobby can earn fifty dollars an hour working as a mechanic. Weeds charges fifteen dollars an hour to mow lawns. It only takes Bobby one hour to mow his lawn, while it would take Weeds two. Should Bobby mow his lawn or hire Weeds to do it? A. It is Bobby's comparative advantage to work as a mechanic because of the opportunity cost, so he should hire Weeds to mow his lawn. B. It is Bobby's absolute advantage to mow his own lawn because he can mow it faster than Weeds, so he should mow his own lawn. C. Since Weeds has the absolute advantage in lawn care, Bobby should hire them to mow his lawn. D. Since Weeds has the comparative advantage in lawn care, Bobby should mow his own lawn.
Business
1 answer:
Dominik [7]3 years ago
7 0
Bobby is a skilled mechanic who is also good at mowing lawns. He can mow his lawn faster and cheaper than the local lawn care service, Weeds. Bobby can earn fifty dollars an hour working as a mechanic. Weeds charges fifteen dollars an hour to mow lawns. It only takes Bobby one hour to mow his lawn, while it would take Weeds two. Should Bobby mow his lawn or hire Weeds to do it? A. It is Bobby's comparative advantage to work as a mechanic because of the opportunity cost, so he should hire Weeds to mow his lawn.
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Higgins Company plans to incur $380,000 of salaries expense if a capital project is implemented. Assuming a 40% tax rate, the sa
AlexFokin [52]

Answer:

d) $228,000 outflow

Explanation:

Calculation for the amount that the salaries should be reflected in the analysis

Using this formula

Salaries=Salaries expense-(Salaries expense*Tax rate)

Let plug in the formula

Salaries=$380,000-($380,000*40%)

Salaries=$380,000-$152,000

Salaries=$228,000 Outflow

Therefore salaries should be reflected in the analysis by a: $228,000 outflow

8 0
3 years ago
Karley's setting aside $32,000 each quarter, starting today, for the next three years for an expansion project. How much money w
Mashutka [201]

Answer:

Final Value= $414,135.43

Explanation:

Giving the following information:

Quarterly deposit= $32,000

Number of quarters= 3*4= 12

Interest rate= 0.0545/4= 0.01363

To calculate the final value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= quarterly deposit

FV= {32,000*[(1.01363^12)-1]} / 0.01363

FV= $414,135.43

8 0
3 years ago
A business pays weekly salaries of $30,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at th
algol [13]

Answer:

debit Salaries and Wages Expense, $24,000; credit Salaries and Wages Payable, $24,000.

Explanation:

The journal entry is shown below:

Salaries and Wages Expense A/c Dr $24,000

   To Salaries and Wages Payable $24,000

(Being salary and wages is adjusted)

The computation is shown below:

Five day salary = $30,000

Per day salary = $30,000 ÷ 5 days = $6,000

Now Monday to Thursday salary i.e 4 days salary = $6,000 × 4 days = $24,000

3 0
3 years ago
Open a general journal for the City of Monroe Community Foundation Trust Fund and record the following transactions for the year
ICE Princess25 [194]

Answer:

The beginning part of the question is found below:

The City of Monroe Scholarship Foundation private-purpose trust fund had the following account balances on January 1, 2017:

                                                     Debits                                  Credits

Cash                                             $49,500

Accrued Interest Receivable       $7,500

Investments in Corporate Bonds $750,000

Net Assets Held in Trust                                                      $807,000

Totals                                            $ 807,000                       $ 807,000

Find below the necessary journal entries in the explanation section:

Explanation:

The interest received =6%*$750,000*6/12=$22,500

Dr Cash            $22,500

Cr Interest income(balance)       $15,000          

Cr Accrued interest receivable   $7,500

Additional funds of $205,500 received:

Dr Cash                  $205,500

Cr donation income                $205,500

the investment of $200,000 in corporation stock

Dr investment in corporation stocks  $200,000

Cr Cash                                                                  $200,000

receipt of half of the year annual interest on bonds(as calculated above at $22,500)

Dr cash    $22,500

Cr Interest income   $22,500

cash is debited when there is an inflow and credited in case of outflows

The investment account is debited because it is an asset

8 0
3 years ago
______ - _____ property is any property such as clothing, a home, or a car, that is for purposes OTHER THAN use in a trade, busi
abruzzese [7]

Answer:

Personal-use

Personal

Real

Explanation:

There are three types of properties which are shown below:

1. Personal use: These properties which are used by a person for their personal purpose rather than business purpose like - clothing, jewelry, home, car for their comfort and enjoyment.

2. Personal: These include those properties which are movable or transferable for one place to other like - machinery, furniture, other building,  etc as per the needs.

3. Real: These properties include properties that are non-movable i.e land, building, canals, etc. This is also known as immovable properties.

6 0
3 years ago
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