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2 years ago

Why the exist an economy?

Business

1 answer:

MAVERICK [17]2 years ago

4 0

Answer:

Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people

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Explanation:

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Robert bought 10 shares of Apex Company for $18 each and later sold all of them at $17 each. This transaction resulted in what t

ikadub [295]

Answer:

capital loss

Explanation:

3 0

2 years ago

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Coyne Corporation is evaluating a capital investment opportunity. This project would require an initial investment of $30,000 to

postnew [5]

Answer:

A. $41,120.

Explanation:

Year Description Cash flow Present [email protected]%

0 Equipment cost ($30,000) ($30,000)

1-4 Additional CF $24,000 $69,929.10

4 Residual value $2,000 $1,184.16

Present value total $41,113.26

Based on the above calculation, the answer shall be A. $41,120.

8 0

3 years ago

Cost of Goods Sold account is debited and Finished Goods Inventory is credited for A) purchase of goods on account. B) the sale

Firlakuza [10]

Answer:

B) the sale of goods to a customer.

Explanation:

When goods are sold to a customer, the cost of goods sold account is debited by the same value that the finished goods inventory is credited.

For example, suppose a company sells $1,000 worth of goods to a customer, and the sales price is $1,200. The customer pays by cash the full value of the goods. The journal entry would be:

Account Debit Credit

Cash $1,200

Sales Revenue $1,200

Cost of Goods Sold $1,000

Finished Goods Inventory $1,000

7 0

2 years ago

Explain what the economic problem is

Helen [10]

Answer:

Economic systems as a type of social system must confront and solve the three fundamental economic problems: What kinds and quantities of goods shall be produced, "how much and which of alternative goods and services shall be produced?" How shall goods be produced? ..by whom and with what resources

8 0

2 years ago

Goiter's Delight, Inc., carries a line of titanium putters. Golfer's Delight, Inc., uses the FIFO method and a perpetual invento

GREYUIT [131]

Answer:

Explanation:

Perpetual Inventory Record

Date Description Qty Unit price Dr Cr

July 1 Balance B/f 6 $110 $660

July 7 Purchases 12 $112 $1,344

July 11 Sales 17 $195 $3,315

July 19 Purchases 15 $114 $1,710

July 28 Sales 12 $195 $2,340

Ending Inventory using FIFO is 4 @ $114 = $456

Cost of goods sold using FIFO = $660+ $1,344+$1,254 = $3,258

Journal Entries

Purchases A/c Dr Cr

July 7 Purchases $1,344

July 19 Purchases $1,710

Sales A/c Dr Cr

July 11 Sales $3,315

July 28 Sales $2,340

Account Receivable a/c Dr Cr

July 11 Sales $3,315

July 28 Sales $2,340

Account Payable a/c Dr Cr

July 7 Purchases $1,344

July 19 Purchases $1,710

6 0

2 years ago

Read 2 more answers