Answer:
The correct answer to he following question is that demand curve is downward sloping, which is moving from left to right.
Explanation:
The demand curve slopes downward because of many reasons like -
1) diminishing marginal utility - according to which if as a consumer goes on consuming more and more units of product, then with each additional unit consumed the satisfaction level goes on decreasing.
2) Income effect - suppose if a persons income level increases he or she will buy more product, which means demand goes up and vice versa will also be true.
3) Substitution effect - As we know that there is inverse relation or negative cross price elasticity between substitute goods, so if price of good A increases then the Demand for good B increases.
Answer:
Account receivable on July 31 = $261,800
Explanation:
We would not be making use of the information for June as the question says 60% is collected in the month of sale and 40% is collected in the following month . Therefore as at July 31, all of june sales would have been collected and won't be outstanding
July credit sales = 85% * $770,000 = $654,500
Collected in July (60%) = 60% * $654,500 = $392,700
Receivable as at 31 July = $654,500 - $392,700 = $261,800
Answer:
Option a 7500 hours.
Explanation:
Given that Majenta Company uses a standard costing system. The following information pertains to direct labor costs for February:
Labour rate variance = Actual hours x actual rate - actual hours x std rate
Here we have actual rate = 10 and std rate = 12
So Labour rate variance = Actual hours (10-12) = 15000 F
This gives
actual hours = 15000/2 = 7500 hours
So option a
Answer:
Option B is correct.
Tom's outside basis be in Freedom,LLC=$26,100
Explanation:
Option B is correct.
Amount Paid by Tom for buying Bob's LLC interest=$23,000
Tom's Share of LLC debt= $3,100
Tom's outside basis be in Freedom,LLC= Amount Paid by Tom for buying Bob's LLC interest + Tom's Share of LLC debt
Tom's outside basis be in Freedom,LLC= $23,000+$3,100
Tom's outside basis be in Freedom,LLC=$26,100
Answer:
$38,198
Explanation:
Recognization principle state that the total amount paid in the first year will be the sum of the amounts given as a whole which will inturn be considered as paid for the employees.
Therefore for the first year, the vacation pay and the pension right will be :
$23,125 +$15,073
=$38,198
Therefore the total cost of vacation pay and pension rights to be recognized in the first year will be $38,198
