Does anyone know anything on accounting????

After major hurricanes like Katrina, many ethical home repair and building supply businesses continue to charge pre-hurricane pr

cricket20 [7]

Answer:

Demand for home repair and building supply is INCOME ELASTIC

Explanation:

One reason why many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though due to the huge increase in demand they could charge much more. These firms probably recognize that demand for home repair and building supply is INCOME ELASTIC.

Although there was no direct fall in income however the loss of property means a negative impact on already earned income. Hence charging higher prices because of higher demand will be a misunderstanding of the income elasticity of demand.

8 0

3 years ago

A doctor misdiagnoses a serious illness. her partners in the clinic are not liable for her mistake. what kind of partnership do

lesantik [10]

Limited liability partnership

8 0

3 years ago

Read 2 more answers

For an activity base to be useful in cost behavior analysis: a) there should be a correlation between changes in the level of ac

lubasha [3.4K]

Answer:

Option A is the correct one

Explanation:

Among the various options given in question statement, option A is correct

Cost behavior analysis is done make management comprehend the impact of various costs change versus changes in activities in various levels of the company. This may involve direct materials, direct labor, and overhead costs. Hence if there is no correlation between changes in the level of activity and changes in costs, then such analysis wont be an effective cost behavioral analysis

7 0

3 years ago

Read 2 more answers

Ogilvie Corp. issued 23,000 shares of no-par stock for $10 per share. Ogilvie was authorized to issue 46,000 shares. What effect

SSSSS [86.1K]

Answer:

Oglivie Corp.'s assets (cash account) will increase be $230,000 and its equity (common stock account) will also increase by $230,000.

Every time a company issues stock and sells them, both its assets and equity have to increase in order to keep a balance in the balance sheet. Since Oglivie's stock are no-par, all of the money received should be included in the common stock account.

7 0

3 years ago

On October 1, 2017, Sharp Company (based in Denver, Colorado) entered into a forward contract to sell 330,000 rubles in four mon

Yuliya22 [10]

Solution:

Date Account tides Debit (S in ruble) Credit (S in ruble)

and Explanation

Oct 1 Accounts receivable 96,600

Sales

( 210,000 ruble x $0.46) 96,600

Dec 31 Accounts receivable

( 50.49-50.46) x (210,000 ruble) 6,300

Foreign Exchange gain 6,300

Loss on forward contract 2079,21

Forward Contract

(50.52-50.51) x 210,000 ruble =2,100

2,100 x 0.9901= $2079.21 2079.21

Jan31 Accounts receivable (LC U) 4,200

Foreign exchange gain

(50.51-50.49) x 210,000 ruble 4200

Foreign currency 107,100

Accounts receivable

(596.600-56,300-54,200) 107,100

Cash 107,100

Foreign cuuency (LCU)

($0.51 x210.000 ruble) 107,100

6 0

3 years ago