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3 years ago

What helps the resources and goods and services move around the circular flow?

Business

1 answer:

Nostrana [21]3 years ago

4 0

Answer: d. money

Explanation: the flow of the resources, goods and services move around in a clockwise flow while money flow in an anticlockwise flow. This is to say without money, the flow of goods and services will be impossible.

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Crane Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows:

vovikov84 [41]

Answer:

Crane Company

If Crane Company uses LIFO, the value of the ending inventory is:

= $440.

Explanation:

a) Data and Calculations:

Units Unit Cost Total Cost

1/1/20 inventory 150 $4.00 $600

1/15/20 Purchase, 70 5.10 357

1/28/20 Purchase, 70 5.30 371

Total 240 $1,328

1/31/20 inventory 110 $4.00 $440 ($4.00 * 110)

b) The LIFO method assumes that goods that are sold first are the last that were purchased. Therefore, the cost of the ending inventory is usually based on the cost of the earlier inventory purchased. In our case, the cost per unit was based on the beginning inventory balance.

4 0

3 years ago

A partial list of Waterways' accounts and their balances for the month of November 2016 follows:

lesya [120]

Answer:

Total current assets = $697,750

Explanation:

The partial balance sheet is as follows:

Waterways Corporation

Balance Sheet (Partial)

For the month of November 2016

Details $ $ 

Current Assets

Cash 260,000

Accounts Receivable 275,000

Finished Goods Inventory, November 68,800

Raw Materials Inventory, November 52,700

Prepaid Expenses 41,250

Total current assets 697,750

Note:

Cash is the most liquid of assets.

Accounts receivable which should be collected within 30 to 60 days are less liquid than cash, but more liquid than inventory.

Finished Goods Inventory which is expected to be sold and converted to cash within one year, and Raw Materials Inventory which is expected to be converted to finished good within one year are more liquid than Prepaid expense.

Therefore, the least liquid among current assets’ item above is the Prepaid Expense as it is cash paid for services not yet received..

4 0

3 years ago

The manager of a carpet store is trying to determine the best installation crew size. he has tried various crew sizes with the r

RideAnS [48]

I would recommend crews of two workers. This type of crew size is easier to manage and prevents cluster. The workers can watch each other's backs without having to worry about looking out for too many other workers. This way they can help each other without losing sight of their own work.

8 0

3 years ago

Three basic questions of economics are:

Mazyrski [523]

The question is B, or what, how, or for whom.

4 0

3 years ago

Marsha is 23 years old and single. She cannot be claimed as a dependent by another taxpayer. Marsha earned wages of $18,500 and

Vedmedyk [2.9K]

Answer:

1. d. Both a and c.

2. True.

Explanation:

Marsha and Shelby both are U.S. citizen. Marsha can claim Income credit once she is 25 years older up to 65 years of age. The individual below 25 years of age cannot claim income credit according to the tax law prevailing in U.S.

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3 years ago