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At the equilibrium price, Multiple Choice there are forces that cause price to rise. quantity supplied may exceed quantity deman

Vilka [71]

Answer:

There are no pressures on price to either rise or fall.

Explanation:

Equilibrium price refers to the market price at which the amount of quantity supplied is exactly equal to the amount of quantity demanded. At this point, the market supply curve and the market demand curve intersect each other.

This price would be determined by the market forces such as demand and supply of the goods.

8 0

3 years ago

Rose Co. sells one product and uses the last-in, first-out method to determine inventory cost. Information for the month of Janu

AleksandrR [38]

Answer:

C) $80,000

Explanation:

Since Rose uses the LIFO method for determining COGS, the 10,000 units sold should be recorded at $7.90 (purchase price 1/5).

10,000 units still remain in inventory (8,000 beginning + 2,000 last purchase). Using the LIFO costing method the inventory unit cost should be [(8,000 x $8.20) + (2,000 x $7.90)] / 10,000 = $8.14 per unit

If the replacement cost is $8 per unit, and Rose decides to use lower-of-cost-or-market rule, then she should use the lowest cost which is the replacement cost ($8 < $8.14).

So the ending inventory's total cost is $8 per unit x 10,000 units = $80,000

8 0

3 years ago

When applying simulation to a business problem, which of the following would commonly be an uncertain variable cell?

AnnZ [28]

The Demand would commonly be an uncertain variable cell

Explanation:

Consumer demand is a catalyst for retail sales. In turn, production and delivery to distributors must continue for suppliers and distributors. The lack of an adequate inventory to satisfy consumer demand is an important business issue with several symptoms.

The first major problem with inadequate inventory to meet demand is revenue failure.

In the long run, the depletion of consumers is a major concern not to meet consumer demand.

When you have unhappy customers on the street you have poor word of mouth ads. Although the issues in the company carry more weight, failure to meet consumer demand has several other economic effects.

For a client, realising a commodity you want is not available is disappointing.

3 0

3 years ago

Presented below are selected transactions on the books of Simonson Corporation. May 1, 2020 Bonds payable with a par value of $9

malfutka [58]

Answer:

May 1 2020

Dr Cash 954,000

Cr Bonds Payable 900,000

Cr Premium on Bonds Payable 54,000

Dr Cash 36,000

Cr Interest Expense 36,000

December 31

Dr Interest Expense 104,275.86

Dr Premium on Bonds Payable 3,724.14

Cr Interest Payable 108,000

Jan 1, 2021

Dr Interest Payable 108,000

Cr Cash 108,000

April 1

Dr Bonds payable $360,000

Dr Premium on bonds payable $19,738

Dr Interest Expense $10,800

Cr Cash $367,200

Cr Gain on redemption of bonds $23,338

Dec. 31

Dr Interest Expense $64,800

Cr Interest Payable $64,800

Dec. 31

Dr Premium on bonds payable $3,911

Cr Interest Expense $3,911

Explanation:

Preparation of the journal entries

May 1 2020

Dr Cash 954,000

($900,000 * 106%)

Cr Bonds Payable 900,000

Cr Premium on Bonds Payable 54,000

(954,000-54,000)

(Being To record issuance of bonds)

Dr Cash 36,000

($900,000 * 12% * 4/12)

Cr Interest Expense 36,000

(Being To record accrued interest at the issuance of bonds)

December 31

Dr Interest Expense 104,275.86

(108,000-3,724.14)

Dr Premium on Bonds Payable 3,724.14

($54,000 * 8/116months)

Cr Interest Payable 108,000

($900,000 * 12%)

Note that [(10yrs*12months) – 4months] will give us 116 months which was used to amortize premium

(Being To record accrued interest and amortization of premium at year end)

Jan 1, 2021

Dr Interest Payable 108,000

Cr Cash 108,000

($900,000 * 12%)

(Being To record payment of interest)

April 1

Dr Bonds payable $360,000

Dr Premium on bonds payable $19,738

[54,000*($360,000/$900,000)*(106/116)]

Dr Interest Expense $10,800

($360,000*12%*3/12)

Cr Cash $367,200

($360,000*102%)

Cr Gain on redemption of bonds $23,338

[($360,000+$19,738+$10,800)-$367,200]

(Being to record call of Bond and Redemption)

Dec. 31

Dr Interest Expense $64,800

Cr Interest Payable $64,800

[($900,000-$360,000)*12%]

(Being to record the interest)

Dec. 31

Dr Premium on bonds payable $3,911

Cr Interest Expense $3,911

[($54,000*12/116*0.6)+(54,000*3/116*0.4)]/

=$3,352+$559

=$3,911

(Being to Amortized premium)

3 0

3 years ago

E) List and describe six reasons why information systems are so important for business today.

muminat

Answer:

operational Excellence

New Product, Services & Business models

Customer & Supplier Intimacy

Operational excellence

Improved decision making

Competitive advantage

Survival

Explanation:

1) Operational Excellence – Information systems are essential tools available to managers in order to achieve optimum levels of efficiency and productivity in business operations thereby higher profitability.

2) New product services and business models – They play a vital role in the creation of new products and services. New business models help to create,describe how a company produce, create and sell the products for profitability.

3) Customer and Supplier intimacy – Information system provide the foundation of customer satisfaction. they make sure a business serves its customers well, thereby improving customer satisfaction that will enable customer to purchase more and generate revenue

4) Improved decision making – they generate real time data from the marketplace when making decision

5) Competitive advantage – Information System help in doing things better than competitors, charging less for superior products, and responding to customers and suppliers in real time all add up to higher sales, and higher profits

6) Day to Day survival – Information System help to provide ease in business

8 0

3 years ago