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2 years ago

14

The latest video game comes out and costs $60. You put it on your credit card and can’t afford to pay the whole bill all at once

, so you make the minimum payment each month. How much is that minimum payment?

1 answer:

Vsevolod [243]2 years ago

6 0

Answer:

The minimum payment is 15

Explanation

so you have to pay another %15 of the bill each month

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Wildhorse Magazine sold 9,240 annual subscriptions on August 1, 2017, for $17 each. Prepare Wildhorse’s August 1, 2017, journal

VMariaS [17]

Answer:

Journal to be posted on August 1, 2017

Debit Cash account $157,080

Credit Deferred revenue $157,080

Being entries to record cash received on August 1, 2017 for subscription to be sold.

Debit Deferred revenue $65,450

Credit Revenue (p/l) $65,450

Being entries to recognized revenue earned from subscription as at December 31, 2017

Explanation:

Number of subscription sold = 9240

Selling price of each = $17

Amount received = 17 × 9240

= $157,080

Journal to be posted on August 1, 2017

Debit Cash account $157,080

Credit Deferred revenue $157,080

Being entries to record cash received for subscription to be sold

On December 31 2017, the fee for 5 months would have been earned

= (5/12) × $157,080

= $65,450

Entries to be posted

Debit Deferred revenue $65,450

Credit Revenue (p/l) $65,450

Being entries to recognized revenue earned from subscription as at December 31, 2017.

7 0

3 years ago

What are the costs and sources of inefficiency in a barter B apply.) A. Productivity is increased by specialization. B. Each goo

True [87]

Answer:

C)There is increased time and effort spent looking for trading partners.

D)There is a lack of standardization.

E)There is difficulty in accumulating wealth.

Explanation:

barter in a trade can be regarded as a system of exchange that involves exchange of goods and services for another without using money as a medium of exchange. Barter is been considered as 'inefficient' as a result of the needs for 'double coincidence of wants'. For instance in a situation whereby someone is buying particular amount of another's goods, but the payment he/she has is for just one indivisible unit of another good, and the worth is higher than what he/she want to obtain, in this case there won't be barter transaction.

It should be noted that the costs and sources of inefficiency in a barter are;

✓There is increased time and effort spent looking for trading partners.

✓There is a lack of standardization.

✓There is difficulty in accumulating

5 0

3 years ago

What might result from the use of an open-end-wrench with too large openings for a particular job?1. This is not a problem if th

Anarel [89]

Answer:

The Correct options are 2 and 3.

Explanation:

From the 4 options provided the two options that best suits the questions are; "The jaws of the wrench might become sprung"; and "The nut or bolt might become rounded." These options are the likely options experienced when an open-end-wrench with double openings for a job.

3 0

3 years ago

When a buyer’s willingness to pay for a good is equal to the price of the good, a. the buyer’s consumer surplus for that good is

igomit [66]

Answer:

a. the buyer’s consumer surplus for that good is maximized.

Explanation:

The consumer will purchase up to the moment at whose preference price matches the market price.

Because of the diminished return theory, the following unit (k+1) will have a lower benefit to the consumer thus, it will have purchased only if the price is lower. Therefore, it will not purchase as the market price is the same as the previous unit but the consumer benefit is lower.

6 0

3 years ago

Jessica spends all her income on two goods, A and B. The price of A is $5, and the price of B is $7. At the current consumption

masha68 [24]

Answer:

Jessica should consume more of good A.

Explanation:

Jessica spends all her income on two goods, A and B.

The price of A is $5, and the price of B is $7.

At the current consumption bundle, the marginal utility of A is 10, and the marginal utility of B is 21.

The total utility is maximized when the ratio of marginal utility and price of the goods consumed is equal for all the goods in the bundle.

The ratio for Good A

= $\frac{10}{5}$

= 2

The ratio for good B

= $\frac{21}{7}$

= 3

Since the ratio is higher for good B, the consumer should shift from consumption of good B to good A until the ratio is equal for both the goods.

5 0

3 years ago