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8_murik_8 [283]
2 years ago
15

The first Photography Club dinner that was paid for in advance concluded at 10:00 pm on the last evening of the month. The Club'

s price for this dinner was $360 at an inventory cost of $240 to Ribs on the Run. Elena did not record this event in the books when she left at 5:00 pm to make the delivery. However, it is still an event that should be recorded for the month because it occurred before midnight.
Which entry should be added to the month?

a. Unearned Revenue (L) 360
b. Sales (R) 360
c. Cost of Goods Sold (E) 240
d. Inventory (A) 240
Business
1 answer:
suter [353]2 years ago
7 0
Unearned revenue I would imagine
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grandymaker [24]

Answer:for perfectly inelastic, the demand will be 135 per year, for infinite elastic the demand will be 27 or less as a result of increase in price

Explanation:

Perfectly inelastic demand : This can be defined as when a change in price however large causes no change in the quantity demanded of a commodity. In this case the initial price is $28.00 ,the quantity is 135, as a result of the increase in price by $2.00 to $30 it will cause no change in the quantity demanded of the novel ,the demand will still be 135

Infinite elastic demand :This is when a change in price brings about a more proportionate change in quantity demanded.. This is when a consumer react sharply to a change in price. If there is a fall in price, the quantity demanded for such a commodity increases. On the other hand, if there is an increase in price the quantity demanded falls..in this case as a result of an increase in price by $3.00 The consumer will reduce to demand for more goods , the quantity demanded may be 27 or less than 27 as a result of increase in price.

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3 years ago
Which of the following is not a way of reducig the costs of operatiions through adopting lean concepts?
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Answer: . Reducing or eliminating process reengineering waste

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The ways of reducing the cost of operations by using lean concepts are reducing or eliminating over-production waste, reducing or eliminating transportation waste and reducing or eliminating inventory waste.

Therefore, reducing or eliminating process reengineering waste isn't a way of reducing operational cost.

3 0
3 years ago
Cumberland Co. sells $1,114 of merchandise to Hancock Co. for cash. Cumberland paid $779 for the merchandise. Under a perpetual
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Answer:

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Credit Sales $1,114

Debit Cost of merchandise sold $779

Credit Merchandise inventory $779

Explanation:

Based on the information given the correct journal entry(is):

Debit Cash $1,114

Credit Sales $1,114

Debit Cost of merchandise sold $779

Credit Merchandise inventory $779

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