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Aleks04 [339]
2 years ago
10

Hofnim, Inc. had the following account balances on September 30, 2016. What is Hofnim's net income for the month of September

Business
1 answer:
goldfiish [28.3K]2 years ago
6 0

Answer:

$22750

Explanation:

Calculation for What is Hofnim's net income for the month of September

Hofnim's NET INCOME

Fees Earned 64,000

Less Miscellaneous Expense (19,700)

Less Rent Expense (5,100)

Less Wages Expense (16,450)

NET INCOME $22,750

Therefore the NET INCOME will be $22,750

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If the price elasticity of supply is 0.6, and a price increase led to a 3.7 percent increase in quantity supplied, then the pric
omeli [17]

Answer: The price increase is about 6.17 percent.

Explanation:

The price elasticity of supply (PES) is the elasticity of the quantity supplied of a product to its price change. Price elasticity of supply is the ratio of the percentage change in the quantity supplied of a good or service to the percentage change in price.

The Price Elasticity of Supply is positive as a result of the law of supply that states that there's a direct relationship between the quantity supplied and price i.e. a price increase leads to an increase in quantity supplied and vice versa.

To solve the question,

PES = 0.6

% change in quantity supplied = 3.7

% change in price = Unknown

Let percentage change in price be denoted by b.

PES = % change in quantity demanded / % change in price

0.6 = 3.7 / b

Cross multiplying,

b = 3.7 / 0.6

b = 6.17

Recall that b is the percentage change on price.

Therefore, the percentage change in price is 6.17.

7 0
3 years ago
List A List B 1. Interest a. First cash flow occurs one period after agreement begins 2. Monetary asset b. The rate at which mon
Vlad1618 [11]

Answer:

1. List A: Interest

List B: e. Amount of money paid/received in excess of amount borrowed/lent

2. List A: Monetary asset

List B: m. Claim to receive a fixed amount of money

3. List A: Compound interest

List B: j. Interest calculated on invested amount plus accumulated interest

4. List A: Simple interest

List B: i. Computed by multiplying an invested amount by the interest rate

5. List A: Annuity

List B: k. A series of equal-sized cash flows

6. List A: Present value of a single amount

List B:  l. Amount of money required today that is equivalent to a given future amount

7. List A: Annuity due

List B: c. First cash flow occurs on the first day of the agreement

8. List A: Future value of a single amount

List B: d. The amount of money that a dollar will grow to

9. List A: Ordinary annuity

List B: a. First cash flow occurs one period after agreement begins

10. List A: Effective rate or yield

List B: b. The rate at which money will actually grow during a year

11. List A: Nonmonetary asset

List B: h. No fixed dollar amount attached

12. List A: Time value of money

List B: g. Money can be invested today and grow to a larger amount

13. List A: Monetary liability

f. Obligation to pay a sum of cash, the amount of which is fixed

3 0
2 years ago
The Talbot Company uses electrical assemblies to produce an array of small appliances. One of its high cost / high volume assemb
ehidna [41]

Answer:

6.25 days

Explanation:

In order to compute the time first we have to find out the economic order quantity and the total number of orders in a year which is shown below:

= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}

= \sqrt{\frac{2\times \text{8,000}\times \text{\$50}}{\text{\$20}}}

= 200 units

Now the total number of years in a year is

= Annual demand ÷ economic order quantity

= 8,000 ÷ 200 units

= 40 orders

And, the time between two consecutive orders is

= 1 ÷ 40 orders × 250 days

= 6.25 days

 

5 0
3 years ago
What are the legal requirements to be fulfilled in order to start this business?
iren [92.7K]

Answer:

Create a LLC or Corporation. The first legal requirement you’ll need to meet as a new business owner is to choose the business structure of your ...

Register Your Business Name.

Apply for a Federal Tax ID Number.

Determine If You Need a State Tax ID Number.

Obtain Business Permits and Licenses.

8 0
2 years ago
The menu of substantive actions top managers can take to change a problem company culture does not include
Helen [10]

Complete Question:

The menu of substantive actions top managers can take to change a problem company culture does not include which one of the following?

a) screening all candidates for new positions carefully, hiring only those who appear to fit in with the new culture

b) shifting from decentralized to centralized decision-making so as to give senior executives more authority and control in driving cultural change

c) promoting individuals who are known to possess the desired cultural traits, who have stepped forward to advocate the shift to a different culture, and who can serve as role models for the desired cultural behavior

d) revising policies and procedures in ways that will help drive cultural change

e) replacing high-profile executives and managers who are strongly associated with the old culture and are opposing or stonewalling needed organizational and cultural changes

Answer:

b) shifting from decentralized to centralized decision-making so as to give senior executives more authority and control in driving cultural change

Explanation:

The menu of substantive actions top managers can take to change a problem company culture does not include shifting from decentralized to centralized decision-making so as to give senior executives more authority and control in driving cultural change.

5 0
3 years ago
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