Answer:
$15,000
Explanation:
Joe has sold the house he has been living in for 10 years to the Smiths family
He sold the house at $300,000
Joe receives $50,000 more than the original price bargained 10 years ago
He pays the real estate agent a commission of 5%
= 5/100
= 0.05
Therefore the increase in gross domestic product can be calculated as follows
= $300,000×0.05
= $15,000
Hence, the transaction will increase the gross domestic product by $15,000
Answer:
The correct answer is "Higher than, Lower than and Excess production theory".
Explanation:
Under Monopolistic Competition:
Average cost = 70
Production level = 50
Under perfect competition:
Average cost = 65
Production level = 70
- Excess capacities are a circumstance where an economic performance would be less than the commodity that somehow a company might offer to that same marketplace.
- Throughout terms of long-lasting balances, the commodity demand of such a monopolistic competition corporation is lesser than that of a complete business entity.
Answer:
D. Seller has the risk of loss because the tender was non-conforming, but only to the extent that Buyer's insurance does not cover the loss
Explanation:
The estimated cost of the assurance-warranty is $350. The accounting for warranty will include a credit to Unearned Warranty Revenue, $900
Explanation:
- Entertainment Tonight, Inc. manufactures and sells stereo systems that include an assurance-type warranty for the first 90 days. Entertainment Tonight also offers an optional extended coverage plan under which it will repair or replace any defective part for 2 years beyond the expiration of the assurance-type warranty. The total transaction price for the sale of the stereo system and the extended warranty is $3,000. The standalone price of each is $2,300 and $900, respectively. The estimated cost of the assurance-warranty is $350. The accounting for warranty will include a credit to Unearned Warranty Revenue, $900.
- Unearned extended warranty revenue is given to be as an unearned revenues in accrued liabilities in the balance sheets.
- Revenue which comes from separately priced, self-insured service contracts is reffered at the point of sale.
- Unearned revenue is a money which is received from a customer for work that has not been performed still.
