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3 years ago

6. What are complements? evonomics

Business

1 answer:

hichkok12 [17]3 years ago

3 0

Answer:

The answer is below

Explanation

Complements in economics is a term that is used to describe goods that are used or consumed together. For example, pencil and eraser, pen and paper, etc.

Complements are goods in economics whose value is increased when combined with other goods. Another example of complement goods is movies and popcorn

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You have 40 years left until retirement and want to retire with $5 million. Your salary is paid annually, and you will receive $

Marat540 [252]

Answer:

16.67%

Explanation:

Calculation to determine what percentage of your salary must you save each year

First step is to calculate the Annual savings

Annual savings=$5 million*[(10%-3%)/(1+0.1)^40-(1+0.03)^40]

Annual savings=$5 million*0.07/(1.1^40-1.03^40)

Annual savings=$8333.88

Now let determine the percentage of the salary you must save each year

Proportion of savings=$8333.88/$50,000

Proportion of savings=0.1667*100

Proportion of savings=16.67%

Therefore the percentage of your salary that you must save each year is 16.67%

5 0

3 years ago

Demand each period is normally distributed and an order-up-to model is used to decide order quantities. Which of the following i

zmey [24]

Answer:

Correct answer is G.

I, II and III

Explanation:

Order-up-to-level (T) = d(P+L) + safety stock

d = mean demand

When Lead time is fixed,

Safety stock = function of (std deviation of demand, L, P, in-stock probability)

When Lead time also has variability,

Safety stock = function of (std deviation of demand, std. deviation of lead time, d, L, P, in-stock probability)

So, in any case, T will depend on d, std deviation of demand, and in-stock probability.

6 0

3 years ago

On October 1, Vista View Company rented warehouse space to a tenant for $3,600 per month. The tenant paid five months' rent in a

Damm [24]

Answer:

The adjusting entry needed on December 31 is:

Debit Unearned Rent revenue $10,800

Credit Rent Revenue $10,800

Explanation:

Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.

The tenant paid five months' rent in advance on October 1. From October 1 to December 31, Vista View Company had rented warehouse space to a tenant for 3 months.

The adjusting entry needed on December 31 is:

Debit Unearned Rent revenue $10,800 ($3,600 x 3 = $10,800)

Credit Rent Revenue $10,800

7 0

3 years ago

On January 1, Mitzu Co. pays a lump-sum amount of $2,750,000 for land, Building 1, Building 2, and Land Improvements 1. Building

krek1111 [17]

Answer:

January 1, 202x

Dr Land 2,162,109

Dr Building 2, 742,626

Dr Building 3, 2,262,000

Dr Land improvement 1, 385,065

Dr Land improvement 2, 168,000

Cr Cash 5,719,800

Explanation:

total purchase cost $2,750,000

Building 2 = $796,500

Land improvement 1 = $413,000

Land = <u>$1,740,000</u>

total = $2,949,500

proportional purchase cost building 2 = $2,750,000 x $796,500/$2,949,500 = $742,626

proportional purchase cost land = $2,750,000 x $1,740,000/$2,949,500 = $1,622,309

proportional purchase cost land improvements 1 = $2,750,000 x $416,000/$2,949,500 = $385,065

additional costs to land = $346,400 + $193,400 = $539,800

additional building 3 = $2,262,000

additional land improvement 2 $168,000

January 1, 202x

Dr Land 2,162,109

Dr Building 2, 742,626

Dr Building 3, 2,262,000

Dr Land improvement 1, 385,065

Dr Land improvement 2, 168,000

Cr Cash 5,719,800

4 0

3 years ago

Which of the following is a contingency that would most likely require accrual? Sales tax payable. Customer premium offers. Pote

BARSIC [14]

Answer:

The correct answer is B

Explanation:

The contingency is the plan, which is course of action for the business that would take if an unexpected situation occur. So, the contingency plan is the plan or method which ensures that the business is prepared for what may come.

Accrual for contingency, it is the information which is available previously to issuance of the financial statements that indicates the assets has been impaired and the loss amount could be reasonably estimated.

The one which is most likely need the accrual is the customer premium offers as it is the technique of sales promotion where the customers are provided two or more products and they pay the price lower of the combined products.

5 0

3 years ago