Answer:
Explanation:
Production in itself is the conversion of inputs to outputs.
Factors of production are the resources that make this conversion of input to outputs possible. These include;
Labour- is the physical and mental effort contributed. It is rewarded by wages or salaries.
Land - includes the soil itself, natural trees, raw materials like minerals and oil found underneath. Its reward is rent.
Capital - includes machinery, chemicals and equipment (tractors, robots). Its reward is interest.
Entrepreneurship- is the drive to develop an idea, take risks and use the other three factors of production to produce goods or services. Its reward is profit.
A. Promissory Note
It means that when you write someone a check, it is a "promise", that their money will be there or liquidated.
Answer: 258 million
Explanation:
The labor force refers to the number of people who are employed and the unemployed who are also looking for work.
Let the labor force be represented by x. Based on the question given, we can form an equation which will be:
5.8% of x = 15 million
0.058x = 15 million
x = 15million / 0.058
x = 258 million
Therefore, the labor force is approximately 258 million.
Answer:
B) $7.36
Explanation:
The preferred stocks' dividends = 8,000 x $20 x 10% = $16,000
To calculate earnings per share (EPS), we subtract the preferred stocks dividends from the net income = $200,000 - $16,000 = $184,000
Now we divide by the total number of common stocks = $184,000 / 25,000 shares = $7.36
*Convertible bonds are not included in this calculation, they should be included only after they are converted into stock.
Answer:
The amount of uncollectible accounts is calculated as follows:
Amount of uncollectible accounts to be adjusted = 6% * Account receivables
= 6% * $138,500
=$8,310
Therefore, amount of uncollectible accounts is $8,310.
Bad debt Expenses = Opening balance of allowance for doubtful account (Credit balance) - Uncollectible account
Bad debt Expenses = $8,310 - $1,005
Bad debt Expenses = $7,305
The journal entry to record allowance for bad debts is as follows:
Account Titles and Explanation Debit Credit
Bad debt Expenses $7,305
Allowance for doubtful account $7,305
(To record adjusting entry for bad debt)