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3 years ago

which statement best illustrates the relationship between three different elements of the circular flow of products

Business

1 answer:

Aloiza [94]3 years ago

8 0

Answer:

C. Businesses create goods for product markets, which sell them directly to households.

Explanation:

Circular flow model is an economic model that is used by economists to show or demonstrate how money, goods and services move from one economic agent to another such as producer, workers, wholesaler, retailer and consumers (households).

Basically, the three (3) elements of the circular flow model of products are;

I. Business firms (producers).

II. Product market (wholesalers and retailers).

III. Households (consumers).

According to the circular flow model of products, businesses play a role in the circular flow of products (goods) by creating goods that households or consumers want to buy. These goods are produced to meet the needs or wants of customers (households) and as such making them willing to buy it.

This ultimately implies that, the cardinal point or reason for which businesses engage in the manufacturing of goods and services is to supply the product markets, which sells them to consumers in order to meet their demands.

In conclusion, the statement which best illustrates the relationship between the three (3) different elements of the circular flow of products is that, businesses create goods for product markets, which sell them directly to households.

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On May 10, a company issued for cash 1,500 shares of no-par common stock (with a stated value of $2) at $14, and on May 15, it i

Irina-Kira [14]

Answer:

a) May 10th Debit Cash $21,000 Credit Common Stock 3,000 and Paid in Excess capital $18,000

b) May 15th Debit Cash $116,000 Credit Preferred stock $30,000 and Paid in Excess Preferred Stock $86,000

Explanation:

The question is to show the journal entries of the company on May 10th and May 15 respectively

a) what was the cash received on May 10 = 1,500 shares x $14= $21,000

What is the Value of the stock = 1,500 shares x $2 = 3,000

Paid in excess then = 21,000- 3,000 = $18,000

Journal Entry For May 10

Date Description Debit ($) Credit 9$)

10th May Cash 21,000

Common stock 3,000

Excess paid in capital 18,000

Being the issue of no-par common stock

b) What was the cash received on May 15th = 2,000 shares x $58 = $116,000

What is the value of the preferred stock = 2,000 shares x 15 = $30,000

Paid in excess preferred stock = $116,000- $30,000 = $86,000

Journal Entry For May 15

Date Description Debit ($) Credit 9$)

15th May Cash 116,000

Preferred stock 30,000

Excess paid in capital 86,000

Being the record of the issue of preferred stock

5 0

3 years ago

One of the reasons it has been so difficult for Congress to bring federal spending under control is because

zhannawk [14.2K]

Answer:

Correct Answer:

C.the federal budget has many entitlements that people do not want cut.

Explanation:

In U.S, there are so many sectors with so many budget mapped out and controlled in-order to benefits the citizens. For example, in this pandemic situation, there are budgets for those who lost their jobs, those unable to pay their house rent, those with medical challenges etc. all these entitlements are what people are not willing to lose. Bringing the federal spending under control means cutting off some of these budgets which might trigger crises.

5 0

4 years ago

A ticket broker purchases two tickets to an upcoming concert for $30 each, although the original ticket holder would have been w

Leno4ka [110]

Answer:

Using these assumption the total value created would be $80 per ticket ($90 - $10).

Explanation:

Take note of the expressions;

"the original ticket holder would have been willing to sell each ticket for $10", and
"new buyer would have been willing to pay up to $90 for each ticket"

Following these assumptions, the broker captured value or profit from the transaction would be $80 per ticket sold to new buyer, since he bought the tickets for $10 each.

Remember, that another word for profit is total value captured.

4 0

4 years ago

On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances:Accounts Debit CreditCash

MariettaO [177]

Answer:

3D Family Fireworks

1. Journal Entries for Transactions:

Jan. 2 Debit Cash $49,100

Credit Service Revenue $49,100

To record services rendered for cash.

Jan. 6 Debit Accounts Receivable $86,400

Credit Service Revenue $86,400

To record services rendered on account.

Jan. 15 Debit Allowance for Uncollectible Accounts $3,300

Credit Accounts Receivable $3,300

To record uncollectible written off.

Jan. 20 Debit Salaries Expense $32,800

Credit Cash $32,800

To record payment for salaries expense.

Jan. 22 Debit Cash $84,000

Credit Accounts Receivable $84,000

To record cash collected on accounted.

Jan. 25 Debit Accounts Payable $6,900

Credit Cash $6,900

To record payment on account.

Jan. 30 Debit Utilities Expense $15,100

Credit Cash $15,100

To record utilities expense paid.

Income Statement for the month ended January 31, 2021:

Service Revenue $135,500

Interest Revenue 1,080

Total Revenue $136,580

Salaries Expense $32,800

Utilities Expense 15,100

Bad Debts Expense 1,060 48,960

Net Income $87,620

Explanation:

a) Data and Calculations:

Trial Balance as of January 1, 2021:

Debit Credit

Cash $26,700

Accounts Receivable 15,000

Allowance for Uncollectible Accounts $3,600

Supplies 3,900

Notes Receivable (6%, due in 2 years) 18,000

Land 80,300

Accounts Payable 8,500

Common Stock 98,000

Retained Earnings 33,800

Totals $ 143,900 $ 143,900

Transaction Analysis:

Jan. 2 Cash $49,100 Service Revenue $49,100

Jan. 6 Accounts Receivable $86,400 Service Revenue $86,400

Jan. 15 Allowance for Uncollectible Accounts $3,300 Accounts Receivable $3,300

Jan. 20 Salaries Expense $32,800 Cash $32,800

Jan. 22 Cash $84,000 Accounts Receivable $84,000

Jan. 25 Accounts Payable $6,900 Cash $6,900

Jan. 30 Utilities Expense $15,100 Cash $15,100

Jan. 31 Adjustments:

Allowance for Uncollectibles:

$4,300 Allowance for Uncollectibles $860 ($4,300 * 20%)

$9,800: Allowance for Uncollectible $490 ($9,800 * 5%)

$14,100 Allowance for Uncollectible $1,350

Allowance for Uncollectibles

Account Titles Debit Credit

Beginning balance $3,600

Accounts receivable $3,300

Bad Debts Expense 1,060

Ending balance 1,350

Interest Receivable $1,080

Interest Revenue $1,080

Service Revenue:

Service Revenue $49,100

Service Revenue $86,400

Service Revenue $135,500

5 0

3 years ago

The type of leadership most appropriate when major changes are needed in an organization would be: Group of answer choices trans

alukav5142 [94]

The name which is given to the type of leadership which is most appropriate when major changes are needed in an organization would be transformational leadership.

According to the given question, we are asked to state the type of leadership which would be best suited when there is a need to effect major changes in an organization.

As a result of this, we can see that the name of this type of leadership is the transformational leadership as the leader pushes the workers to go beyond their self interests to see a change.

The other options are not appropriate for major changes as they are more concerned with the satisfaction of the workers rather than getting major changes.

Therefore, the correct answer is option A

Read more about transformational leadership here:

brainly.com/question/14531259

6 0

2 years ago