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3 years ago

What is accounting? and what is accounting all about?

Business

2 answers:

EleoNora [17]3 years ago

6 0

Answer:

accounting is the process of recording financial transaction pertaining to a business.

Explanation:

......

Doss [256]3 years ago

4 0

Accounting or accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations.

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Both the Onus ferry operator in the monopoly market and each of the Yuri ferry operators in the perfectly competitive market wil

Lisa [10]

Answer: Please refer to Explanation.

Explanation:

Monopoly.

The 2 reasons why the monopoly’s marginal revenue will always be less than its price are;

a) Even though Monopolies have very large influence on the prices of goods and services they offer, for a Monopoly to sell more goods, they generally have to lower their prices. This will lead to a situation where Marginal Revenue, which is the additional revenue made per additional unit sold will be less than Price because additional revenue for a new unit will be less than the last one because prices are dropped .

b) A Monopoly's demand schedule is downward sloping. This means that demand rises as prices drop. As prices drop therefore, more goods will be sold but the marginal revenue will be less because prices had to be dropped to get an additional unit to be sold. That unit therefore will bring in less revenue than the last unit.

Perfectly Competitive Market

In such a market, the seller is a Price Taker. This means that sellers in this market do not sell at a price that they want but rather at a price the market has established to be the Equilibrium. This is because of the high competition in the market. Since they are all selling at the same price, this means that every additional revenue they get is the same as the price the market charges. This means that Price equals Marginal Revenue in this market.

3 0

3 years ago

B Corporation, an accrual basis taxpayer, is owned 75 percent by Bonnie, a cash basis taxpayer. On December 31, 20X1, the corpor

Luda [366]

Answer:

c. $15,000

Explanation:

The explanation for this question is given in the attachment below.

3 0

3 years ago

Several years ago, Alcoa was effectively the sole seller of aluminum because the firm owned nearly all of the aluminum ore reser

Alinara [238K]

Answer:

price-taking assumption.

free entry assumption.

Explanation:

A perfectly competitive market is one in which different firms compete for consumers of their products. The characteristics of the perfectly competitive market are:

- products are nearly identical

- all the firms are price takers. That is they are not able to determine price independently

- buyer knowledge of information about products is perfect and available to all

- free entry and exit to the market

- resources are perfectly mobile

In the given scenario above two of these rules are not obeyed.

Alcoa was effectively the sole seller of aluminum because the firm owned nearly all of the aluminum ore reserves in the world.

So they determine the price ( they are not price takers)

Also since they own nearly all the aluminium reserves there is no free entry for new firms

5 0

3 years ago

The income statement for the Carolina Service Company for the year ended December 31, 2017, appears below. Includes $25,000 of i

KATRIN_1 [288]

Answer:

Earning per share = 2.166

Price earning = 10.15

Times interest earned = 5.4

Explanation:

Common stock outstanding at end = Shares outstanding (open) +Shares issued.

= 50000+10000= 60000 outstanding shares (at end)

a.)we know that earning per share = net income - preference dividend

Common shares outstanding at end

= ( N#1) 135000 - 5000

60000

= 2.166 earning per share

(N#1):To calculate net income we will need statement of changes in equity,Suppose par value of shares = $10,

we have Beginning equity + net income - Dividend = Equity (end)

Net Income = 600000+35000-500000

Net income = 135000

b.) Price earning = Market value per share = 22 = 10.15

Earning per share 2.166

c.) Times interest earned = Income before interest and taxes or EBIT

Interest expense

EBIT = 135000

= 135000 / 25000 = 5.4 times

6 0

3 years ago

Many americans pay for haircuts, trips to the dentist, or transportation on the metro and bus systems. these actions support the

balandron [24]

These actions support the notion of capitalism, an example of "non-material culture".

Non‐material culture alludes to the nonphysical thoughts that individuals have about their way of life, including convictions, values, rules, standards, ethics, dialect, associations, and foundations. For example, the non‐material social idea of religion comprises of an arrangement of thoughts and convictions about God, love, ethics, and morals. These convictions, at that point, decide how the way of life reacts to its religious subjects, issues, and occasions.

4 0

3 years ago

What is accounting? and what is accounting all about?​

What is accounting? and what is accounting all about?