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3 years ago

Describe about comparative cost and absolute advantages of international trade

Business

1 answer:

zzz [600]3 years ago

4 0

Answer:

Here's what I know.

Explanation:

Comparative cost talks about the difference or similarities in cost between two or more prices of good or services.

The advantages of international trade are...

1. It creates harmony between countries.

2. It encourages countries to manufacture their own products.

3. It is a source or income/revenue to the producing countries.

4. It is a good employment opportunity.

5. It improves a country's standard of living.

Hope these help... ♥

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The following transactions occurred during 2021 for the Beehive Honey Corporation:

defon

Answer:

Given Below

Explanation:

Beehive Honey Corporation:

General Journal

Journal Entries

Date Particulars Debit Credit

Feb.1. Cash $ 24,000 Dr.

Notes Payable $ 24,000 Cr.

Feb. 1 Borrowed $24,000 from a bank and signed a note. Principal and interest at 8% will be paid on January 31, 2022.

Apr. 1 Prepaid Insurance 6,000 Dr.

Cash $ 6000 Cr

Apr. 1 Paid $6,000 to an insurance company for a two-year fire insurance policy.

July 17 Supplies Account $ 4000 Dr.

Accounts Payable $ 4000 Cr.

July 17 Purchased supplies costing $4,000 on account. The company records supplies purchased in an asset account.

Nov. 1 Notes Receivable $ 9,600 Dr.

Cash $ 9,600 Cr.

Nov. 1 A customer borrowed $9,600 and signed a note requiring the customer to pay principal and 6% interest on April 30, 2022.

Beehive Honey Corporation:

General Journal

Adjusting Entries December 31st

Sr. No Particulars Debit Credit

1. Interest Expense $ 1600 Dr.

Interest Payable $ 1600 Cr.

Interest accrued from Feb to December. ( $ 24000* 8% * 10/12 = $ 1600)

2. Insurance Expense $ 2250 Dr.

Prepaid Insurance 2250 Cr.

Insurance of $ 2250 expired during April to December. ( $ 3000 *9/12* = $ 2250)

3. Supplies Expense $ 2150 Dr.

Supplies Account $ 2150 Cr.

( $ 4000 - $ 1850= $ 2150)

At the year-end on December 31, 2021, supplies costing $1,850 remained on hand.

4. Interest Receivable $ 192 Dr.

Interest Income $ 192 Cr.

$9,600 * 6% * 2/6= $ 192 Accrued Interest not yet received.

8 0

3 years ago

Current liabilities are a.due and to be paid out of current assets within one year b.payable if a possible subsequent event occu

777dan777 [17]

Answer:

a. due and to be paid out of current assets within one year

Explanation:

Current liabilities are the financial obligations that a business has to pay within one year and they can include short-term debt, dividends payable and accounts payable. These obligations are usually paid using current assets. So, according to this, the answer is that current liabilities are due and to be paid out of current assets within one year.

4 0

3 years ago

Klamath Corp. produces two products: saws and drills. Three activities are used in their manufacture. These activities and their

slega [8]

Solution and Explanation:

Answer 1 Calculation of activity rate is as follows:

Stamping = Budgeted costs divided by Machine tour

= $200000 / 10000 = $20 machine hour

Assembly = Budgeted costs divided by Labor hour

= $400000 divided by 20000 = $20 labor hour

Setup = Budgeted costs divided by setup

= 30000 / 15 = 2000 setup

Answer 2 Overhead cost per unit = Total overhead cost divided by total units produced .

$\text { Saws }=(((4000 * \$ 20)+(7000 * \$ 20)+(3 * 2000)) / 500$

Saws = $452 per unit

$\text { Drills }=(((6000 * \$ 20)+(13000 * \$ 20)+(12 * 2000)) / 600$

Drills = $673 per unit

5 0

3 years ago

Schools should not be able to punish students for speech made outside of school because?

adoni [48]

Explanation:

Schools aren't in charge of what the student says outside of school. However, parents are. If there happens to be an issue, I believe that parents should be the ones creating the punishment.

6 0

3 years ago

Ronnie operates a lawn-care service. On each day, the cost of mowing the first lawn is $15, the cost of mowing the second lawn i

Flauer [41]

Answer:

. $45

Explanation:

Let X be the amount of equal charges per customer.

Therefore,

X-12+X-25+X-40+X=100.

4X-77=100

4X=177

X=44.25

Approximately $45

8 0

4 years ago

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Describe about comparative cost and absolute advantages of international trade​

Describe about comparative cost and absolute advantages of international trade