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SOVA2 [1]
3 years ago
13

Andrew, a college student, loves drinking coffee late at night to study for exams. Having a small income, he is used to buying c

heap, bad tasting coffee that he needs to grind and brew himself. The coffee tastes putrid but, with enough cream and sugar, Andrew is able to tolerate it. Occasionally, he does go out to Starbucks when he has spare money. After graduation, Andrew gets a job working at a database firm as a programmer. His income is now a healthy $75,000 a year and he decides he's had enough bad tasting coffee. He ends up buying coffee daily from Starbucks even though it costs significantly more than Beanlightened. in economic terms, Starbucks coffee is a(n) Seectanswer 3, Beanlightened coffee while is a(n) Andrew's demand for Starbucks coffee changed as a result of O a change in expectations. O a change in technology O a change in a related good or service. O a change in income O a change in the number of consumers
Business
1 answer:
Ivanshal [37]3 years ago
8 0

He is buying a better quality coffee because he can afford it now, which means it is because of change of income.

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1. Exhibit 1.1; USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)
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8 0
2 years ago
A summary of cash flows for Adventure Travel Service for the year ended April 30, 2019, follows:
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Answer:

<u>Adventure Travel Service</u>

<u>Statement of cash flows for the year ended April 30, 2019</u>

<u>Cash flow from Operating Activities</u>

Cash receipts from customers                                 $2,080,000

Cash payments for operating expenses                 ($1,706,000)

Net Cash from Operating Activities                            $374,000

<u>Cash flow from Investing Activities</u>

Purchase of land                                                        ($400,000)

Net Cash from Investing Activities                            ($400,000)

<u>Cash flow from Financing Activities</u>

Cash receipt from owner as investment                      $60,000

Drawings                                                                       ($40,000)

Net Cash from Financing Activities                              $20,000

Movement in Cash and Cash Equivalents                   ($6,000)

Beginning Cash and Cash Equivalents                      $203,000

Ending Cash and Cash Equivalents                            $197,000

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The Statement of Cash flows shows the results of cash from the following sources : Cashflow from Operating Activities, Cashflow from Investing Activities and Cashflow from Financing Activities.

4 0
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TRUE

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