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sineoko [7]
2 years ago
11

As the price level rises ceteris paribus people holding some of their wealth in monetary form because:_____

Business
1 answer:
klio [65]2 years ago
6 0

Answer:

a. less wealthy and they buy less.

Explanation:

we are assuming a situation where the price level rises (inflation rises), so anyone holding cash will be able to purchase a smaller amount of goods with the same amount of cash simply because the goods are more expensive. E.g. you purchased 10 goods with $100, but if the inflation rate increases to 10%, you will be able to purchase only 9 goods with the same $100. As inflation rises, people holding cash (or other monetary form) will lose wealth and purchasing power.

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Answer:

No

Explanation:

Just why- why would you ask this?

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You want to estimate the proportion of adults who make over $50,000 a year in your county. According to a study done two years a
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Answer and Explanation:

D. n = AP Statistics Semester 2  

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3 years ago
Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its fi
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Answer:

a. Journalize the adjusting entries necessary on June 30, 2019.

Fees earned but unbilled on June 30 were $9,070.

Dr Accounts receivable 9,070

    Cr Fees earned 9,070

Supplies on hand on June 30 were $7,410.

Dr Supplies expense 12,630

    Cr Supplies 12,630

The depreciation of equipment was estimated to be $12,530 for the year.

Dr Depreciation expense - equipment 12,530

    Cr Accumulated depreciation - equipment 12,530

The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June $17,420 of the services was provided.

Dr Unearned fees 17,420

    Cr Fees earned 17,420

Unpaid wages accrued on June 30 were $1,600.

Dr Wages expense 1,600

    Cr Wages payable 1,600

b. Determine the revenues, expenses, and net income of Milbank Repairs& Service before the adjusting entries.

Fees Earned $501,120

- Wages Expense $116,260

- Rent Expense $88,700

- Utilities Expense $63,640

<u>- Miscellaneous Expense $10,020</u>

Net income $222,500

c. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries.

Fees Earned $527,610  

- Wages Expense $117,860

- Rent Expense $88,700

- Utilities Expense $63,640

- Depreciation expense $12,530

<u>- Miscellaneous Expense (including supplies) $22,650</u>

Net income $222,230

d. Determine the effect of the adjusting entries on Nancy Townes, Capital.

Nancy Townes is the owner of Milbank Repairs & Service, and since this is a sole proprietorship (she is the sole owner), the retained earnings account does not exist. So any profits or losses will increase or decrease her capital account respectively. Since after the adjustments the net income decreased by $270, her capital account will also decrease by $270.

5 0
2 years ago
Southwest airlines' "ding" widget pops up on your computer desktop to let you know of lower fares to cities you want to visit. t
GREYUIT [131]
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8 0
3 years ago
On December 1, 2019, Ral received advance rental of $27,000 from a tenant for a three-year lease commencing January 1, 2020 to c
adelina 88 [10]

Answer:

Nil

Explanation:

On receipt of the amount, the entries to be posted would be;

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Credit deferred revenue  $27,000

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As such, no rental income was earned in 2019. Amount to be included in Ral's taxable income for rent revenue is nil.

8 0
3 years ago
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