All categories

2 years ago

in a based economy transaction require that each party have something the other desires increase market

Business

1 answer:

Galina-37 [17]2 years ago

6 0

Answer:

The ansewr is a barter based economy.

In a barter based economy, goods are exchanged for other goods, because no good that takes the functions of money exists (unit of account, store of value, and medium of exchange).

Barter economies can work on a limited scope, but to a larger extent, they can become inefficient, because this type of economy requires a double coincidence of wants: both parties of the transaction must desire the other party's goods.

You might be interested in

The net income reported on the income statement for the current year was $275,000. Depreciation recorded on fixed assets and amo

hichkok12 [17]

Answer:

$324,000

Explanation:

The preparation of the Cash Flows from Operating Activities - Indirect Method is presented below:

Cash flow from Operating activities

Net income $275,000

Add : Depreciation expense $30,000

Add: Amortization expense $4,000

Add: Decrease in accounts receivable $6,000 ($102,000 - $108,000)

Add: Decrease in inventory $5,000 ($88,000 - $93,000)

Less: Increase in prepaid expenses -$2,000 ($8,500 - $6,500)

Add: Increase in account payable $6,000 ($95,000 - $89,000)

Net Cash flow from Operating activities $324,000

4 0

3 years ago

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2017 I

SSSSS [86.1K]

Answer:

<u>cost of goods manufactured schedule</u>

Raw Materials ($9,180 + $55,020 - $17,480) $46,720

Direct Labor $51,740

Manufacturing overheads :

indirect labor $6,510

factory insurance $4,700

machinery depreciation $4,380

machinery repairs $1,990

factory utilities $3,740

miscellaneous factory costs $1,980

Add Opening Work In Process $5,670

Less Closing Work In Process ($7,610)

Cost of goods manufactured $119,800

Explanation:

Cost of goods manufactured schedule shows a summary of results (cost) obtained from manufacturing activity during the production period.

7 0

2 years ago

Honda has developed aluminum car bodies that are 100% recyclable and light enough to help conserve fuel. What kind of response i

andreyandreev [35.5K]

Answer:

b. Proactive

Explanation:

Proactive response is a corporate response in which the corporate anticipates or identifies the problem and develops ways and methods to reduce the impact or eliminate the problem.

Here in the question development of recyclable aluminium car bodies will actively help in reducing the demand of the fresh aluminium.

Also,

the reduction or the conserving of fuel will help reducing the fuel demands which is among the major source of CO₂

6 0

3 years ago

Splish Brothers Inc. issues $4.8 million, 5-year, 7% bonds at 102, with interest payable on January 1. The straight-line method

Radda [10]

Answer and Explanation:

The Journal entries are shown below:-

Interest expense Dr, $316,800

Premium on bonds payable Dr, $19,200 ($96,000 ÷ 5)

To Interest payable $336,000 ($4,800,000 × 7%)

(Being interest expense and bond premium amortization is recorded)

Here we debited the interest expenses and premium on bonds as it increased the expenses and we credited the interest payable as it also increased the liabilities

5 0

3 years ago

Calculating the Predetermined Overhead Rate, Applying Overhead to Production, Reconciling Overhead at the End of the Year, Adjus

Usimov [2.4K]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Estimated:

Overhead $160,000

Direct labor hours 80,000

Han uses normal costing and applies overhead based on direct labor hours.

For January, direct labor hours were 8,150.

By the end of the year, Han showed the following actual amounts:

Overhead $166,000

Direct labor hours 79,600

Assume that the unadjusted Cost of Goods Sold for Han was $176,000.

1) Predetermined overhead rate= total estimated overhead for the period/ total amount of allocation base

Predetermined overhead rate=160000/80000= $2 per hour

2) Applied overhead (January)= Predetermined overhead rate*actual hours= 2*8150= $16,300

3) Applied overhead for the year= 2*79600= $159,200

Over/under applied= actual overhead - applied overhead= 166000 - 159200= 6800 underapplied

4) COGS= 176000

Underapplied overhead= 6800

COGS adjusted= $182,800

3 0

2 years ago