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3 years ago

Define the law of demand in a perfectly competitive market

1 answer:

3 0

Is a microeconomics law that states, all other factors being equal, as the price of a good or service increases, consumers demand for the good or service will decrease, and vice versa

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Diaz and Associates incurred the following costs in completing a tax return for a large company. Diaz applies overhead at 50% of

attashe74 [19]

Answer:

1. Dr Services in process inventory9,900

Cr Service salaries payable9,900

Dr Services in process inventory4,950

Cr Services overhead4,950

2. Dr Cost of services provided14,850

Cr Services in process inventory14,850

Explanation:

1.Preparation of journal entries to record direct labor andthe overhead applied.

Dr Services in process inventory9,900

Cr Service salaries payable9,900

[(5 × $500) + (12 × $200) + (100 × $50) = $9,900]

Dr Services in process inventory4,950

Cr Services overhead4,950

($9,900 x 50% = $4,950)

2.Preparation of the journal entry to record the cost of services provided.

Dr Cost of services provided14,850

Cr Services in process inventory14,850

($9,900+$4,950=14,850)

[(5 × $500) + (12 × $200) + (100 × $50) = $9,900]

+($9,900 x 50% = $4,950)

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2 years ago

A type of national lawmaking body that is common throughout Europe is known as a __________.

NemiM [27]

The correct answer is letter (B) Parliament. A type of national lawmaking body that is common throughout Europe is known as a (B) Parliament. It was started in 1952 as Common Assembly of the European Coal and Steel Community. In 1962, it became as the European Parliament and had its first elections in 1979.

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3 years ago

Read 2 more answers

Explicit costs are payments the firm makes for outputs such as desks for its employees, whereas implicit costs are expenditure c

VladimirAG [237]

Answer:

The correct answer is: inputs such as wages and salaries to its employees, whereas implicit costs are non-expenditure costs that occur through the use of self owned resources such as foregone income.

Explanation:

The implicit costs. Also known as opportunity costs have to do with alternative earning options, or money that we no longer receive when performing certain commercial actions.

A company incurs implicit costs when it waives an alternative action but does not make a payment. Implicit costs of a company are:

The use of the company's own capital (money or assets).
The use of money, assets and financial resources of the owner.

Explicit costs. They are what we usually see and are easy to identify. Even if they can present some complication for their determination, it is possible to identify them thanks to the business operation itself.

Explicit costs are paid with money. In a food company the costs recorded by the company accountant are the explicit costs, for which the company disburses cash, such as wages and salaries, truck maintenance, tolls, service payments, and so on.

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3 years ago

How else can nordstrom continue to provide exceptional customer service and increase brand loyalty?

leva [86]

Nordstrom will give client benefit as an approach to constructing the brand of an item and is the way for the client to maintain loyalty to Nordstrom. Alluding to marking, client benefit is frequently the last component and regularly the most ignored. This is a major oversight - and a major open door missed. Utilize client administration to fortify your image is a basic way, making organizations to end up plainly extraordinary, and increment mark dedication.

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3 years ago

On January 1, 2021, David Mest Communications granted restricted stock units (RSUs) representing 30 million of its $1 par common

erastova [34]

Answer:

1. December 31, 2018

Dr Compensation expense $150 million

Cr Paid-in capital - restricted stock $150 million

2. December 31, 2019

Dr Compensation expense $132 million

Cr Paid-in capital - restricted stock $132 million

3. December 31, 2020

Dr Compensation expense $141 million

Cr Paid-in capital-restricted stock $141 million

Explanation:

1. to 3. Preparation of the appropriate journal entry to record compensation expense on December 31, 2018. December 31, 2019. and December 31, 2020

1. Preparation of the appropriate journal entry to record compensation expense on December 31, 2018

First step is to determine the Total compensation expense

Total compensation =$15 per share x 30 million options granted = $450 million total comp.

1.Preparation of the appropriate journal entry to record compensation expense on December 31, 2018

December 31, 2018

Dr Compensation expense $150 million

($450 million/3 years )

Cr Paid-in capital - restricted stock $150 million

(To record compensation expense)

2. Preparation of the appropriate journal entry to record compensation expense on December 31, 2019

December 31, 2019

Dr Compensation expense $132 million

[($450 million*94%*(2/3))-$150 million]

(100%-6%=94%)

Cr Paid-in capital - restricted stock $132 million

(To record compensation expense)

3. Preparation of the appropriate journal entry to record compensation expense on December 31, 2020

December 31, 2020

Dr Compensation expense $141 million

[($450 million*94%)-$150 million -$132 million]

Cr Paid-in capital-restricted stock $141 million

(To record compensation expense)

8 0

3 years ago