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3 years ago

Suppose that a 2% increase in price results in a 6% decrease in quantity demanded. Own-price elasticity of demand is equal to:

Business

1 answer:

sukhopar [10]3 years ago

6 0

Answer:

-3

Explanation:

PED= change in quantity demanded /change in price

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The following information pertains to Hyde Corp.'s issuance of bonds on January 1, Year 1: Face value $1,000,000 Term 10 years S

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3 years ago

Central Supply purchased a new printer for $67,500. The printer is expected to operate for nine (9) years, after which it will b

Sergeu [11.5K]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Central Supply purchased a new printer for $67,500. The printer is expected to operate for nine (9) years, after which it will be sold for salvage value (estimated to be $6,750).

Annual depreciation= 2*[(original cost - residual value)/estimated life (years)]

Year 1= 2*[(67,500 - 6,750)/9]= $13,500

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3 years ago

2. Prepare a direct materials purchases budget for chemicals for the months of January and February. Do not include a multiplica

Tpy6a [65]

Answer:

Purchases Budget for January 238,590 units

Purchases Budget for February 233,131 units

Dollar Purchases Budget for January $ 477,180

Dollar Purchases Budget for February $ 466,264

Explanation:

Patrick Inc.

Direct Materials Purchases Budget -

January February

Production in units 43,800 41,000

Gallons per unit 5.5 5.5

Gallons for production 240,900 225,500

Desired ending inventory 33,825 41,456

Needed 274,725 266,956

Less: Beginning inventory 36,135 33,825

Purchases 238,590 233,131

Price per gallon $ 2.00 $ 2.00

Dollar purchases $ 477,180 $ 466,264

Direct Materials Purchases budget is calculated by calculating the gallons per unit which is added to desired ending inventory and beginning inventory is deducted. The purchases units are multiplied with price per unit.

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3 years ago

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Answer:

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2 years ago

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On January 1, the first day of the fiscal year, a company issues a $5,000,000, 6%, 10-year bond that pays semiannual interest of

irga5000 [103]

Answer:

Explanation:

The journal entries are shown below:

On Jan 1 - Cash A/c Dr $5,000,000

To Bonds Payable A/c $5,000,000,

(Being bond is issued)

On June 30 - Interest expense A/c Dr $150,000

To Cash A/c $150,000

(Being interest paid for cash)

On December 31, Bonds Payable A/c Dr $5,000,000

To Cash A/c $5,000,000

(Being payment of principal is recorded on the maturity date)

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3 years ago