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3 years ago

[The following information applies to the questions displayed below.]

Business

1 answer:

Orlov [11]3 years ago

8 0

Answer:

Pose-for-Pics

Effects on the accounting equation:

Assets = Liabilities + Equity

Aug 1 Cash +$9,000 Equipment +$38,700 = M. Harris, Capital +$47,700

Aug 2 Cash -$2,300 Prepaid Insurance +$2,300

Aug 5 Cash -$1,710 Supplies +$1,710

Aug 20 Cash +$2,650 = Revenue +$2,650

Aug 31 Cash -$870 = Utilities Expense -870

Total assets $49,480 = Total equity $49,480

Explanation:

a) Data and Analysis based on the accounting equation:

August 1 Cash $9,000 Equipment $38,700 M. Harris, Capital $47,700

August 2 Prepaid Insurance $2,300 Cash ($2,300)

August 5 Supplies $1,710 Cash ($1,710)

August 20 Cash $2,650 Service Revenue $2,650

August 31 Utilities ($870) Cash ($870)

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Marginal utility:

Monica [59]

Answer:

a. is the change in total satisfaction derived from consuming one more unit of a good.

Explanation:

Marginal utility: It defines as changes in total satisfaction of consumers with one additional unit changes in the consumption of goods. It derives satisfaction level of consumer with the units of goods consumed, similarly usage of product changes with the number of the product we have in stock or purchased.

Formula; Marginal utility= $\frac{Changes\ in\ total\ utility}{Changes\ in\ number\ of\ units\ consumed}$

There are several types of marginal utility:

Zero marginal utility.
Positive marginal utility.
Negative marginal utility.
Increasing marginal utility.
Diminishing marginal utility.

7 0

3 years ago

Howard Bowen is a large-scale cotton farmer. The land and machinery he owns has a current market value of $11 million. Bowen owe

givi [52]

Answer:

A. $1,510,000

B. -$10,000

Explanation:

a. Calculation to determine Bowen’s Accounting profits

Using this formula

Accounting profits = Total revenue - Explicit cost

Let plug in the formula

Accounting profit = $10 million - $8 million - $40,000 - $400,000 - $50,000

Accounting profit= $1,510,000

Therefore Bowen’s Accounting profits is $1,510,000

b. Calculation to determine Bowen’s Economic profit

Using this formula

Economic profits = Accounting profit - Implicit cost

Let plug in the formula

Economic profits = $1,510,000 - [($11,000,000*0.1) + $30,000 + ($60,000 - $40,000)]

Economic profits =$1,510,000 - [$1,100,000+ $30,000 + $60,000 - $40,000)]

Economic profits =$1,510,000-$1,150,000

Economic profits =-$10,000

Therefore Bowen’s Economic profit is -$10,000

4 0

3 years ago

When you want to add records to a database, which view should you have open?

Serggg [28]

Answer:

the answer is d

Explanation:

7 0

3 years ago

Ivorycoast, Inc. purchased a van on January 1, 2017, for $890,000. Estimated life of the van was five years, and its estimated r

Eva8 [605]

Answer:

$731,600

Explanation:

For computing the book value, first we have to determine the depreciation expense which is shown below:

So, under the straight-line method, the depreciation expense would be

= (Original cost - residual value) ÷ (useful life)

= ($890,000- $98,000) ÷ (5 years)

= ($792,000) ÷ (5 years)

= $158,400

In this method, the depreciation is same for all the remaining useful life

Now the book value would be

= Acquired value of an asset - depreciation expense

= $890,000 - $158,400

= $731,600

3 0

3 years ago

Every night after working the swing shift, Sierra stops by the 24-Store near her house. She often buys bread, cold cuts, and Dr.

ioda

Answer:

convenience store

Explanation:

Convenience store is basically a small shop that usually works as small retail shop that keeps every item of daily use and is easily reachable.

The items kept in stock here include coffee, groceries, snack foods, mil and dairy products, stationary etc.

Since it is convenient for people to buy every day product from these shops it is called as Convenience store

7 0

3 years ago