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3 years ago

A partial list of Waterways' accounts and their balances for the month of November 2016 follows:

Business

1 answer:

lesya [120]3 years ago

4 0

Answer:

Total current assets = $697,750

Explanation:

The partial balance sheet is as follows:

Waterways Corporation

Balance Sheet (Partial)

For the month of November 2016

Details $ $ 

Current Assets

Cash 260,000

Accounts Receivable 275,000

Finished Goods Inventory, November 68,800

Raw Materials Inventory, November 52,700

Prepaid Expenses 41,250

Total current assets 697,750

Note:

Cash is the most liquid of assets.

Accounts receivable which should be collected within 30 to 60 days are less liquid than cash, but more liquid than inventory.

Finished Goods Inventory which is expected to be sold and converted to cash within one year, and Raw Materials Inventory which is expected to be converted to finished good within one year are more liquid than Prepaid expense.

Therefore, the least liquid among current assets’ item above is the Prepaid Expense as it is cash paid for services not yet received..

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Assume that a firm's marginal cost is $10 and the elasticity of demand is minus2. We can conclude that the firm's profit-maxi

inysia [295]

Answer:

Option A. $20

Explanation:

Marginal cost be MC, marginal revenue be MR and . We know that

MR = ∆TR ÷ ∆Q

MR = (P∆Q+Q∆P) ÷ ∆Q

Here,

P is Profit-maximizing price

MR = (P∆Q ÷ ∆Q) + (Q∆P ÷ ∆Q)

MR = P + (Q∆P ÷ ∆Q)

we can also write the above equation as

MR = $P + P(\frac{Q}{P})(\frac{\Delta P}{\Delta Q})$

also,

Price elasticity of demand PED = $(\frac{Q}{P})(\frac{\Delta P}{\Delta Q})$

MR = P + [ P ÷ (PED) ]

We know MR = MC

Therefore,

MC = P + [ P ÷ (PED) ]

(P − MC) ÷ P = −1 ÷ PED

Substituting the values provided in the question

MC = $10

PED = -2

we get

P = [ PED ÷ (1 + PED)] × MC

P = ( -2 ÷ -1) × 10

P =$20

hence,

Option A. $20

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3 years ago

If the government is required to balance the budget and the economy falls into a recession, which of the actions is a feasible p

nika2105 [10]

Answer:

The correct answer is: cut spending equal to the reduction in tax revenue.

The correct answer is: The negative consequences of the recession are magnified.

Explanation:

Recession is likely to cause a reduction in the aggregate demand, consumer income, and spending will decrease as well. As a result, the tax revenue to the government will fall as well.

A balanced budget means that government expenditures should be equal to revenue. So if the government wants to have a balanced budget it needs to reduce its spending by the same amount as the reduction in the tax earnings.

This will lead to a reduction in the aggregate demand further magnifying the effects of the recession.

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3 years ago

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Dog Bone Bakery, which bakes dog treats, makes a special biscuit for dogs. Each biscuit uses 0.75 cup of pure semolina flour. Th

Marizza181 [45]

Answer:

Results are below.

Explanation:

To calculate the direct material rate and quantity variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (0.55 - 0.54)*4,000

Direct material price variance= $40 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (0.75*4,800 - 3,588)*0.55

Direct material quantity variance= $6.6 favorable

Finally, the total variance:

Total direct material variance= 40 + 6.6= $46.6 favorable

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3 years ago

One of the ways that restaurants often adapt their product offerings to address changes in competition is to ____________.

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4 years ago

Moore's law states that every 18 months, the computing speed of a microchip doubles.

horrorfan [7]

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