Answer:
Jessica calls her colleagues informing them about her new bakery business.
Explanation:
Answer:
A) Information asymmetry.
Explanation:
An information asymmetry can be defined as a situation where there is an imbalance of information between two parties in their knowledge of important points, factors and details. Thus, because one party has more information or knowledge than the other, this usually results in an inefficient outcome and or failure.
The theory of information asymmetry was developed and introduced by three (3) notable Nobel prize winning economists, namely; Michael Spence, George Akerlof and Joseph Stiglitz.
In this scenario, Matthew a divisional manager at Venus Inc. reports to the CEO of the company. Matthew has more employees working for him than required and he has not told the CEO about this, even though there are other departments that are in need of more employees.
<em>Hence, the concept illustrated here is an information asymmetry.</em>
Answer:
Keep the cattle and recover the contract price from Esau
Explanation:
Since in the question it is given that the Double D Ranch and Esau enter into a contract on August 1 for selling of 200 cattle.
But Esau cancels the contract after 10 days. Now the Double D Ranch is not able to sell the cattle to the another buyer so in this case , the Double D Ranch should keep the cattle and get back the price of the contract from the another party i.e Esau as he cancels the contract
Answer:
$155,700
Explanation:
Absorption costing
Sales $164 × 3,260 = $534,640
Less cost of goods sold
Opening inventory
Add variable cost of goods manufactured
[3,700 × ($51 + $32 + $6 = $89)] = $329,300
Fixed manufacturing cost
$88,800
Cost of goods available for sale
$418,100
Less ending inventory 440 × $89
$39,160
Cost of goods sold
$378,940
Gross margin
$155,700
Less variable selling and administration expenses $6 × 3,260
$19,560
Fixed selling and administrative expenses
$32,600
The total gross margin for the month under the absorption costing approach is $155,700
Answer:
September 9, petty cash fund is established
Dr Petty cash 440
Cr Cash 440
September 30, petty cash fund expenses
Dr Merchandise inventory 44
Dr Postage expenses 54
Dr Miscellaneous office expenses 144
Dr Cash short and over 10
Cr Petty cash 252
September 30, petty cash fund reimbursement
Dr Petty cash 252
Cr Cash 252
October 1, petty cash fund increased to $485
Dr Petty cash 45
Cr Cash 45
