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3 years ago

Khi thu nhập giảm, các yếu tố khác không đổi, giá cả và sản lượng cân bằng mới của hàng hóa thông thường sẽ:

Business

1 answer:

Kamila [148]3 years ago

8 0

Answer:

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Musashi lives in Philadelphia and runs a business that sells pianos. In an average year, he receives $704,000 from selling piano

Gnoma [55]

Answer:

Explicit costs are actual costs which Yakov must make while implicit costs are opposite of explicit costs, Implicit costs are opportunity costs.

Grouping them, we have the following;

•The wages and utility bills that Yakov pays. => Explicit costs

•The salary Yakov could earn if he worked as a paralegal.=>Implicit Costs

•The wholesale cost for the pianos that Yakov pays the manufacturer. => Explicit costs

•The rental income Yakov could receive if he chose to rent out his showroom =>Implicit Costs

2) Yakov's accounting and economic profit of his piano business.

Profit($)

Acct Profit.......... Economic Profit

$14,000. .............. -$9,000 (loss)

•Yakov's accounting profit will be his revenue - explicit costs.

Therefore accounting profit=

$704,000 - ($404,000 - $286,000) = $14,000

• Yakov's economic profit will be (accounting profit - (rent + forgone salary)

Therefore, accounting profit =

$14,000 - ($3,000+$20,000) = -$9,000

4 0

3 years ago

Stubbs Company uses the perpetual inventory method. On January 1, Year 1, Stubbs purchased 400 units of inventory that cost $8.0

Sonja [21]

Answer:

A. USD 5,180/-

Explanation:

In the actual method of inventory valuation, the inventory reaming and the COGS (Cost Of Goods Sold) is measured after each purchase or sale of a transaction. So the COGS and the remaining value of the inventory is known all the time.

Formula:

Gross margin is equal to Sales minus COGS

3 0

3 years ago

On October 1, Company B records 1 year of prepaid rent in an income statement account then adjusts for the unexpired prepaid ren

trasher [3.6K]

Answer:

The first journal entry was not the most appropriate, but since the mistake was correctly adjusted at the end of the year, both assets and expenses will be the same whether they did it correctly the first time or they had to adjust a mistake at the end of the year.

E.g. something like this happened

October 1, rent expense for 1 year

Dr Rent expense 12,000

Cr Cash 12,000

December 31, adjustment to rent expense

Dr Prepaid rent 10,000

Cr Rent expense 10,000

they should have recorded it as:

October 1, prepaid rent for 1 year

Dr Prepaid rent 12,000

Cr Cash 12,000

December 31, adjustment to rent expense

Dr Rent expense 2,000

Cr Prepaid rent 2,000

Whichever way you recorded the transactions, the balances a the end of the year would be:

prepaid rent (asset) $10,000

rent expense (expense) $2,000

6 0

3 years ago

If a concession stand received $5,550 in gameday sales, and its profit for the event was $3,330, what were the expenses?

frez [133]

Answer: $1,110 .

Explanation:

Given : Amount received by concession stand in gameday sales = $5,550

i.e. Gross income = $5,550

Profit for the event = $3,330

i.e. Net income =$3,330

According to the Net income formula ,

Gross income - expenses = Net income

⇒ Expenses = Gross income - Net income

⇒ Expenses = $5,550- $3,330

⇒ Expenses = $1,110

Thus , the expenses were $1,110 .

3 0

3 years ago

Splish Brothers Inc. sold its accounts receivable of $70,300. What entry should Splish Brothers make, given a service charge of

Bingel [31]

Please help me! This is due tomorrow and I really need some help! Thank you.

8 0

3 years ago