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4 years ago

The purpose of economic systems is _____.

1 answer:

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The purpose of econmic systems are the means by which countries and governments distribute resources and trade goods and services. They are used to control the five factors of production, including: labor, capital, entrepreneurs, physical resources and information resources.

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Peterson Company purchased machinery for $960,000 on January 1, 2014. Straight-line depreciation has been recorded based on a $6

Molodets [167]

Answer:

198,000

Explanation:

(960000 - 60,000) / 5 = 180k

Deprecation expense = 180,000 x 5 = 720,000

Deprecation expense from January to April = 4/12 x 180000

720 + 75h

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3 years ago

Harmon recently quit his job that he had worked at for the past 10 years in

Leviafan [203]

Answer:

d. Harmon only needs to show the bank his record of income from

his old job, not his new business.

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4 years ago

The Fashion Shoe Company operates a chain of women's shoe shops around the country. The shops carry many styles of shoes that ar

vlabodo [156]

The computation of the break-even point (in dollars) is given below:

Break-even (dollars) = Break-even (units) x Selling price

= $10 x 12,000 units

= 120,000

Based on the data given in the problem, compute the revised break-even point (in units) for shop 48 after the payment of the incentive.

The break-even point is the point at which total costs equal total sales, and there is no loss or profit for a small business. This means that we have reached a stage of production where the cost of production equals the revenue of the product.

The break-even point is used in several areas of economics and finance. In accounting terms, it refers to the level of production where the total revenue from production equals the total cost of production.

Learn more about the break-even point at

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2 years ago

Bay City Construction, Inc., a contractor, asks Cool Electric, a subcontractor, to provide certain services. Nothing is said abo

Paraphin [41]

Answer:

C. an implied contract

Explanation:

Based on the scenario being described it can be said that the chief issue is most likely to be whether these parties had an implied contract. This type of contract refers to when two parties have an agreement but there is no written contract existing regarding this agreement, instead the law enforces the contract and makes sure that the details are fair to both parties.

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3 years ago

Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $153,000 Credit sale

rodikova [14]

Answer:

Balance of allowance for doubtful accounts after Bad debt Expense is $2700

Explanation:

given data

Cash sales= $153,000

Credit sales = $453,000

Selling and administrative expenses = $113,000

Sales returns and allowances= $33,000

Gross profit = $493,000

Accounts receivable = $140,000

Sales discounts = $17,000

doubtful accounts credit balance = $1,500

solution

we know here Total Bad Debit = 3% of accounts receivable

that is Total Bad Debit = 0.03 × $140,000

Total Bad Debit = $4200

so here allowance for doubtful account credit balance = $1500

Balance of allowance for doubtful accounts after Bad debt Expense will be

Balance of allowance for doubtful accounts = $4200 - $1500

Balance of allowance for doubtful accounts = $2700

6 0

4 years ago