Answer:
Implicit costs do not require a direct monetary outlay by the firm, whereas explicit costs do.
Explanation:
Rent, salary, and other operating expenses are considered explicit costs. They are all recorded within a firm's financial statements, meaning they are present and clearly shown or reported as a separate cost. The main difference between the two types of costs is that implicit costs are opportunity costs, meaning that it is present but it is not initially shown or reported as a separate cost, while explicit costs are expenses paid with a company's own tangible assets. In other words, explicit costs are always shown, implicit costs are not, at least initially, exactly like the meaning words suggest.
Answer:
June 1 2020
No entry
September 1, 2020
Dr Cash $1,980
Dr Accounts receivable $300
Cr Sales revenue $1,730
Cr Unearned sales revenue $550
September 1, 2020
Dr Cost of goods sold $1,140
Cr Inventory $1,140
October 15 2020
Dr Cash $300
Dr Unearned service revenue $550
Cr Accounts receivable $300
Cr Service Revenue $550
Explanation:
Preparation of the journal entries for Geraths in 2020
June 1 2020
No entry
September 1, 2020
Dr Cash $1,980
Dr Accounts receivable $300
($1,730+$550+$1,980)
Cr Sales revenue $1,730
($1,980/$2,610*$2,280)
($1,980+$630=$2,610)
Cr Unearned sales revenue $550 ($630/$2,610*$2,280)
September 1, 2020
Dr Cost of goods sold $1,140
Cr Inventory $1,140
October 15 2020
Dr Cash $300
Dr Unearned service revenue $550
Cr Accounts receivable $300
Cr Service Revenue $550
Answer:
Alice's consumer surplus = $5
Jeff's consumer surplus = $16
Nicole's producer surplus = $1
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of a good.
Consumer surplus = willingness to pay - price of the good
Producer surplus is the difference between the price of a good and the least price the producer is willing to accept
Producer surplus = price of the good - least price the producer is willing to accept
Alice's consumer surplus = $30 - ($35 - $10) = $5
Jeff's consumer surplus = $20 - [$16 - (0.75 x $16)] = $16
Nicole's producer surplus = $501 - $500 = $1
Begin by conducting a needs assessment. Be able to tie the need for training to the organization's goal. Provide effective communications to ensure employees understand the value of taking time to attend the program.
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Answer:
Please Kindly check the attach picture, the full working is there.
Explanation:
