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3 years ago

After World War II, cigarettes were used as money in Germany. This is an example of:________.

Business

1 answer:

Paladinen [302]3 years ago

7 0

Answer: Commodity Money

Explanation:

Commodity money is used to describe goods that have an intrinsic value that enable them to be used as a medium of exchange for goods and services. For a good to be used as commodity money, it should be rare and easily exchangeable.

Examples of goods that have been and can be used as commodity money include gold, silver, alcohol and cigarettes with cigarettes being especially popular in prison.

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Danny operates a plumbing business, and this year the three-year-old van he used in the business was destroyed in a traffic acci

seropon [69]

Answer:

$4,600

Explanation:

Casualty loss deduction = Adjusted basis - insurance compensation = 5800-1200= $4,600

3 0

3 years ago

Lewis Company had the following transactions involving notes payable.

Fiesta28 [93]

Answer and Explanation:

The journal entries are shown below

1. Cash Dr $50,500

To Note payable $50,500

(Being the amount borrowed is recorded)

2. Cash Dr $61,200

To Note payable $61,200

(Being the amount borrowed is recorded)

3. Interest expense $2,020

To Interest payable $2,020

(Being the interest expense is recorded)

The computation is shown below:

= $50,500 × 8% × 6 months ÷ 12 months

= $2,020

4. Interest expense $612

To Interest payable $612

(Being the interest expense is recorded)

The computation is shown below:

= $61,200 × 6% × 2 months ÷ 12 months

= $612

5. Note payable $61,200

Interest expense $306

Interest payable $612

To Cash $62,118 ($61,200 + $918)

(Being the principal and the interest is recorded)

= $61,200 × 6% × 3 months ÷ 12 months

= $2,020

5. Note payable $50,500

Interest expense $1,010

Interest payable $2,020

To Cash $62,118 ($50,500 + $3,030)

(Being the principal and the interest is recorded)

= $50,500 × 8% × 9 months ÷ 12 months

= $3,030

8 0

3 years ago

The two characteristics of a competitive market are 1) many buyers and sellers in the market and 2) the goods offered by the var

FrozenT [24]

Answer:

1. True

2. False

Explanation:

A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.

An example of perfect competition is the market for farm produce.

I hope my answer helps you

5 0

3 years ago

Presented below is information related to Dino Radja Company.

Alja [10]

Answer:

Dino Radja Company

The ending inventory for Dino Radja Company for 2017 through 2022 using the dollar-value LIFO method:

Date Ending Inventory Price Dollar Value

(End-of-Year Prices) Index LIFO

December 31, 2017 $ 80,000 100 $80,000 ($80,000*1.00)

December 31, 2018 115,500 105 110,000 ($115,500/1.05)

December 31, 2019 108,000 120 90,000 ($108,000/1.20)

December 31, 2020 122,200 130 94,000 ($122,200/1.30)

December 31, 2021 154,000 140 110,000 ($154,000/1.40)

December 31, 2022 176,900 145 122,000 ($176,900/1.45)

Explanation:

a) Data and Calculations:

Date Ending Inventory Price Index

(End-of-Year Prices)

December 31, 2017 $ 80,000 100

December 31, 2018 115,500 105

December 31, 2019 108,000 120

December 31, 2020 122,200 130

December 31, 2021 154,000 140

December 31, 2022 176,900 145

5 0

2 years ago

How do I pay taxes once I turn 18?

suter [353]

Answer:

ask your mother

Explanation:

ask your mother:)

3 0

3 years ago