Answer and Explanation:
The Journal entry is shown below:-
1. Sales revenue Dr, $28,656 ($121,700 + $287,673) × 7%
To Sales tax payable $28,656
(Being sales tax payable is recorded)
Here we debited the sales revenue as it decreased the revenue while we credited the sales tax payable as it increased the liabilities so that the proper posting could be done
Working note
Credit sales = $130,219 × 100 ÷ 107
= $121,700
Cash sales = $302,810 × 100 ÷ 107
= $287,673
Answer:
1. Mary McFly invents a time machine and gets legal protection from competition. Patent
2. Main Line Utilities can operate at a lower cost than multiple electric companies. Economies of Scale
3. The author of Economics for Dumbbells is given exclusive rights to produce this book. Copyright
4. Your city council gives All Talk Communication Services exclusive rights to build high speed internet infrastructure in your town.Government licencing
5. DeJeers Jewelers owns 80% of the world's diamond mines. Control over Resources
Explanation:
A monopoly is when there's only one firm operating in an industry.
Economies of scale is cost reduction that accures to a firm as a result of its large scale production. For example, a supplier might give a producer a discount for buying in bulk.
A patent is when the government or an agency of the government gives the right to produce an invention or a good for a set period, others are usually excluded making, using or selling the invention.
Copyright gives the owner of an intellectual property the exclusive right to make copies of a creative work, usually for a limited time.
If a firm has exclusive access to resocurces, it is possible for the firm to prevent other firms from entering into the industry and thus retain monopoly power.
I hope my answer helps you
Answer:
D. is the analysis of how people (or firms) behave in strategic situations.
Explanation:
Game Theory it one of the greatest concepts of social situations among the competitive individuals or firms. It is mostly about the strategies. It includes the science of strategy, optimal decision making among the competitive individuals or firms or maybe countries. Game Theory is very useful for determining the best solutions or paths for price competition or product releases. The Game Theory has well known pioneers like John Nash, John von Neumann.
Game Theory has:
Focus: the focus is the game that is happening. On the game, there are social interactions and rational players.
Key: one player's payoff is contingent on the strategy implemented by the other player.
Players: the individual or the firm who or what is strategic decision-maker within the context of the game
Strategy: it is the complete plan of action a player will obtain from the set of circumstances that might arise within the game
Payoff: The payout a player receives from arriving at a particular outcome
Equilibrium: It is such an outcome or agreement that the point in a game where both players have made their decisions and an outcome is reached
As we see the game theory in general context is the behavioral analysis of the individuals and firms during the strategic situations.
Answer:
$42,240
Explanation:
The computation of the balance of the Accumulated Depreciation account at the end of 2019 is as follows;
But before that the depreciation rate is
= 1 ÷ 5 × 2
= 40%
For the first year, the depreciation expense is
= $66,000 × 40%
= $26,400
Now for the 2019, the depreciation expense is
= ($66,000 - $26,400) × 40%
= $15,840
Now the accumulated depreciation is
= $26,400 + $15,840
= $42,240
I had to look for the options and here is my answer:
Based on the one presented above, we can say that the equivalent equation can be written like this: <span>BI + P = COGS + EI. BI refers to the beginning inventory and P is the purchases. The COGS is the cost of goods sold. EI is the ending inventory. Hope this helps.</span>
