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Virty [35]
3 years ago
6

If a company purchases equipment costing $5,100 on credit, the effect on the accounting equation would be:

Business
1 answer:
alex41 [277]3 years ago
4 0

Answer:

assets increase $5,100 and liabilities increase $5,100

Explanation:

Assets are the items that a company owns which can provide future economic benefit.

Liabilities are future sacrifices of economic benefits that an entity is obliged to make to other entities as a result of past transactions or other past events, hence Liabilities are what a person or company owe other parties.

If a company purchases equipment costing $5,100 on credit, the assets of the company will increase by $5100 as a result of acquiring an equipment. Also, the liability will increase by $5100 as a result of debt owed.

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Which is NOT an indicator of a country's economic health? A. GDP B. standard of living
EleoNora [17]
D inflation duhhh because ik my social studies♥️
7 0
3 years ago
Read 2 more answers
uppose the annual demand function for the Honda Accord is Qd = 430 – 10 PA + 10 PC – 10 PGwhere PA and PC are the prices of the
emmainna [20.7K]

Answer:

Qd = 400 units

elasticity of demand of the Accord with respect to the price of Camry = 0.5

elasticity with respect to the price of gasoline = -0.075

Explanation:

Solution:

The annual demand function for the Honda Accord is:

Qd = 430 – 10 PA + 10 PC – 10 PG

Where,

PA = Price of Honda Accord

PC = Price of Honda Camry

PG = Price of Gasoline per gallon.

Selling Price of both cars = $20,000

Fuel Cost = $3 per gallon.

a) Elasticity of Demand of the Accord with respect to the price of Camry.

First, we need to calculate the number of units demanded.

Qd = 430 – 10 PA + 10 PC – 10 PG

Qd = 430 – 10 (20) + 10 (20) – 10 (3.00)

Qd = 430 - 200 + 200 - 30

Qd = 430 - 30

Qd = 400 units

Cross-price elasticity of the Accord with respect to the price of the Camry will be:

Cross Price = (dQd/dPC) x (PC)/(Qd)

dQd/dPC = 10

PC = 20

Qd = 400

So,

Cross Price = 10* 20/400

Cross Price  = 0.5

b) Elasticity with respect to the price of gasoline?

Elasticity =  (dQd/dPG)*(PG/Qd)

dQd/dPG = -10

PG = 20

Qd = 400

Elasticity  = (-10)*(3/400)

Elasticity  =  -0.075

5 0
3 years ago
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $800 account of a customer,
saul85 [17]

Answer:

Explanation:

The journal entries are shown below:

On January 31

Allowance for doubtful accounts A/c Dr $800

         To Account receivable A/c $800

(Being the written off amount is recorded)

On January 31

Account receivable A/c Dr $300

           To Allowance for doubtful accounts A/c $300

(Being the reverse entry is made)

On March 9

Cash A/c Dr $300

      To Accounts receivable A/c $300

(Being the amount is collected)

7 0
3 years ago
Mel is thinking of going on a cruise. Mel values a cruise in nice weather at $2,000 and values a cruise in bad weather at $50. T
Vinvika [58]

Answer:

Mel

If Mel is risk-neutral, then in the absence of trip insurance, the most she will be willing to pay for the cruise is _______.

c. $1,220

Explanation:

a) Data and Calculations:

Mel's value of a cruise in nice weather = $2,000

Mel's value of a cruise in bad weather = $50

Probability of nice weather = 60%

Probability of bad weather = 40%

Expected value:

Weather              Outcome Probability    Expected Value

Nice weather      $2,000          60%           $1,200

Bad weather            $50           40%               $20

Total expected value of a cruise               $1,220

6 0
3 years ago
Which one of the following is correct about variable costing systems?
IgorLugansk [536]

Answer:

C nag sa got ko sa yo yang C DAHIL SA VARIABLE

6 0
3 years ago
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