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Cloud [144]
2 years ago
7

Suppose that an economy consists of only two individuals. Jeremy has $1690 available to spend on goods. He decides to purchase $

470 worth of produce from Michele in the current quarter. No other economic activity takes place during the current quarter. Using this information, answer the questions. For the current quarter, what is the economy's income?
Business
1 answer:
Zigmanuir [339]2 years ago
6 0

Answer:

$470

Explanation:

The calculation of the economy income is given below:

Since $1,690 spend on goods and then he decided to purchase for $470 in order to generate it

So here we can see that there is one and only economic activity that took place at the present quarter that is of $470

Therefore the economy income is $470

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It costs Sheridan Company $28 of variable costs and $17 of allocated fixed costs to produce an industrial trash can that sells f
Mashutka [201]

Answer:

Option (C) is correct.

Explanation:

Variable costs = $28

Allocated fixed costs = $17

Selling price = $84

Due to acceptance of M offer, S would be got excess contribution margin per unit. Because acceptance selling price ($34) is greater than the variable cost per unit ($28).

We don't have any information about the fixed cost due to acceptance. Therefore, we assumed that fixed cost is not increased.

Increased contribution margin per unit:

= Selling price - Variable cost

= $34 - $28

= $6

For 3,000 units, Increased contribution margin = 3,000 × $6

                                                                               = $18,000

Therefore, net income is increased by $18,000 when the offer is accepted.

6 0
3 years ago
Corrector guarantees its snowmobiles for three years. Company experience indicates that warranty costs will be approximately 5 %
rodikova [14]

Answer:

A.CORRECTOR JOURNAL ENTRIES

1.2016

Dr Cash 240,000

Dr Note receivable 560,000

Cr Sales Revenue 800,000

2. Record of the warranty expense.

2016

Dr Warranty Expense 40,000

Cr Estimated Warranty Payable 40,000

3.To Record the warranty payments for the company.

2016

Dr Estimated Warranty Payable 12,000

Cr Cash12,000

B . T-ACCOUNT

DEBIT SIDE

The Estimated Warranty Payable will be:

Dr Payments12,000

CREDIT SIDE

Beginning balance 0

Accrual 40,000

Ending balance 28,000

Explanation:

A. Preparation of the Record of the sales, warranty expense, and warranty payments for the company while Ignore cost of goods sold.

CORRECTOR JOURNAL ENTRIES

2016

Dr Cash 240,000

(30%× Sales amount $800,000)

Dr Notes Receivable 560,000

(800,000-240,000)

Cr Sales Revenue 800,000

(560,000+240,000)

To record sales for 2016

Record of the warranty expense.

2016

Dr Warranty Expense 40,000

(5%×800,000)

Cr Estimated Warranty Payable 40,000

To record the accrue warranty payable.

To Record the warranty payments for the company.

2016

Dr Estimated Warranty Payable12,000

Cr Cash12,000

To record Warranty payments.

B . T-ACCOUNT

DEBIT SIDE

The Estimated Warranty Payable will be:

Dr Payments12,000

CREDIT SIDE

Beginning balance 0

Accrual 40,000

Ending balance 28,000

(40,000-12,000)

4 0
3 years ago
F. in late 2010 hca announced an intended dividend recapitalization in which it would pay a $2 billion dividend to shareholders
Andrews [41]

Answer:

The times interest earned ratio will reduce

Explanation:

The times interest earned ratio is a ratio that looks at how many times a companies earnings from operations can cover the loan interest it has to pay in a year.

It is calculated by the formula Earnings Before Interest and Tax divided by the interest expense.

Therefore looking at the scenario, if HCA increases its debt level by issuing a $1.53 billion bond, this will increase its interest expense significantly and the number of times its earnings will cover its interest expense will be remarkably lower.

Therefore the times interest earned ratio will reduce

4 0
3 years ago
Read 2 more answers
The previous value of a portfolio that must be regained before a hedge fund can charge their investors performance fees is known
Margarita [4]

Answer:

high watermark

Explanation:

A high watermark refers to the mark at which the investment could be reached at a high peak. It to be calculated on that date when the performance fees are charged and it could be charged only on that case when there is a rise in the value of the portfolio

Moreover,  in the high watermarks there is no need to pay the performance based fee when there is a poor performance

Therefore the given situation represent the high watermark

4 0
3 years ago
A difference between people-processing services and possession-processing services is that possession-processing services:
Contact [7]

Answer:

b. do not require customers to enter the service factory.

Explanation:

Possession processing involves tangible services provided on property belonging to a customer. It involves activities like lawn mowing, cleaning services. The property that is recoevong the action must be present but the customer does not need to be.

In people processing on the other hand, the customer is present and services provided are intangible, knowledge based, and customised to each client. For example retail banking services.

3 0
3 years ago
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