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3 years ago

Why would a business owner lower the price of a product?

Business

2 answers:

svetoff [14.1K]3 years ago

7 0

Answer:

C. Because the product is in less demand

Explanation:

APEX

Gnesinka [82]3 years ago

6 0

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Steel Company as lessee signed a lease agreement for equipment for 5 years, beginning December 31, 2017. Annual rental payments

balu736 [363]

Answer:

Debit Credit

December 31, 2017

Lease Equipment Under Capital Leases $166,794

Lease Liability $166,794

December 31, 2017/January 1, 2018

Lease Liability $40,000

Cash $40,000

b. Debit Credit

December 31, 2018

Depreciation Expense $23,828

Accumulated Depreciation $23,828

December 31, 2018/January 1, 2019

Interest Expense $12,679

Lease Liability $27,321

Cash $40,000

c. Debit Credit

December 31, 2019

Depreciation Expense $23,828

Accumulated Depreciation $23,828

December 31, 2019/January 1, 2020

Interest Expense $9,947

Lease Liability $30,053

Cash $40,000

d. Balance Sheet

December 31,2019

Property Plant and Equipment Current Liabilities

Leased Equipment Under Capital Leases $166,794 Lease Liability $33,058

Less Accumulated Depreciation $47,656

$119,138 Long Term

Lease Liability $36,362

Explanation:

a. The journal entries, that should be recorded on January 1, and December 31, 2017, by Steel would be as follows:

Debit Credit

December 31, 2017

Lease Equipment Under Capital Leases $166,794

Lease Liability $166,794

December 31, 2017/January 1, 2018

Lease Liability $40,000

Cash $40,000

Lease Equipment Under Capital Leases=(40,000*PVIFA(10%,Years = 40,000*4.16986))= $166,794

b. The journal entries, that should be recorded on January 1 and December 31, 2018, by Steel would be as follows:

Debit Credit

December 31, 2018

Depreciation Expense $23,828

Accumulated Depreciation $23,828

December 31, 2018/January 1, 2019

Interest Expense $12,679

Lease Liability $27,321

Cash $40,000

Depreciation Expense= (166,794/7)=$23,828

Interest Expense [(166,794 - 40,000)*10%]=$12,679

Lease Liability=(40,000 - 12,679)=$27,321

c. The journal entries, that should be recorded on January 1, and December 31, 2019, by Steel would be as follows:

Debit Credit

December 31, 2019

Depreciation Expense $23,828

Accumulated Depreciation $23,828

December 31, 2019/January 1, 2020

Interest Expense $9,947

Lease Liability $30,053

Cash $40,000

d. The amounts that would appear on Steel's December 31, 2019, balance sheet relative to the lease arrangement would be as follows:

Balance Sheet

December 31,2019

Property Plant and Equipment Current Liabilities

Leased Equipment Under Capital Leases $166,794 Lease Liability $33,058

Less Accumulated Depreciation $47,656

$119,138 Long Term

Lease Liability $36,362

8 0

3 years ago

Susan orders five table settings of china from bone china. each set includes a dinner plate, cup & saucer, bowl, and dessert

lianna [129]

No, she can’t do that because the person who ordered the table settings paid for what they were supposed to send so she needs to of sent them if not that’s false advertising.

6 0

3 years ago

Explain what is happening during each phase of the cycle with: I. output, II. employment III. and inflation

Ludmilka [50]

Answer:

During each phase of the economic cycle of Recession and Expansion, the following economic variables fluctuate, accordingly:

I. Output: During Recession, production output reduces. But, during expansion, product output rises with rising income, employment, and even stable inflation.

II. Employment: During phases of economic Expansion, employment rises, while it contracts during the phases of Recession.

III. Inflation: Due to rising income and output during economic expansionary periods, inflation rate also rises. It reduces when the economy enters a recession.

Explanation:

Business or Economic Cycle describes the recurrent, but not periodic, sequence of changes in the aggregate economic activities of a nation. It usually cascades between the spectrum of expansion and recession. This means that there is an alternation of the phases of economic cycle between expansion and contraction (recession) when the aggregate economic activities may rise or decline due to the equal movement of economic variables like the GDP output, employment, income, and sales.

5 0

3 years ago

What is the difference between apparatus and materials?

Aleks04 [339]

Materials are any single item utilized when conducting scientific experiments. Apparatus is a collective group of items combined to perform experimental projects that do not have consumption. An example of a material would be water. Examples of apparatus would be thermometers or other instruments.

7 0

3 years ago

You are asked to make comparisons of two pairs of countries. The first pair are the Latin American countries of Chile and Argent

aleksklad [387]

Answer:

Part a: According to Solow model higher per capita real GDP will be in Chile because of its highest saving rate.

Part b: The per capita capital stock or the labour ratio is the primary factor for these differences in the simple Solow model.

Explanation:

Part a:

According to Solow model higher per capita real GDP will be in Chile because of its highest saving rate.

In Solow model the GDP per capita is defined as

$y=k^{\alpha}=f(k)$

Also the steady state path is given as

$sf(k)=(s+n)k\\\frac{s}{s+n}=\frac{k^*}{f(k^*)}\\\frac{s}{s+n}=\frac{k^*^{\alpha-1}}{k^*}\\\frac{s}{s+n}={k^*^{\alpha-2}}$

As all other parameters are same thus the country with higher value of s will have a higher per capita GDP.

According to the Solow model, higher saving rate means larger capital stock and high level of output at the steady state.

Higher saving rate leads to faster growth in Solow model. So there is higher per capita real GDP for the country that has higher saving rate.

Part b:

In Simple Solow Model, the steady state per Capita GDP, $y^*$ is the function of the steady state per capita capital stock given as $k^*$

Now this indicates that

$y^*=f(k^*)$

where f is an increasing concave function i.e. f'>0 and f''<0

Thus the sole dependence of per capita GDP is on per capita capital stock.

Thus the per capita capital stock or the labour ratio is the primary factor for these differences in the simple Solow model.

6 0

3 years ago

Read 2 more answers