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2 years ago

What is the Accounting cycle?

Business

2 answers:

IceJOKER [234]2 years ago

6 0

Answer:

Accounting cycle is a collective process of identifying, analyzing and recording the accountant of the company.

Arte-miy333 [17]2 years ago

3 0

Answer:

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

Explanation:

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Last month, sellers of good Y took in $100 in total revenue on sales of 50 units of good Y. This month sellers of good Y raised

nekit [7.7K]

Answer:

Option c = They are Substitutes and have cross price elasticity of 1.67

Explanation:

Cross-Price Elasticity = %change in Quantity demanded of good X

%change in Price of good Y

% change in Quantity Demanded of good X = Q2-Q1 × 100

(Q1+Q2)

% change in Quantity Demanded of good X = 40-20 ×100

(20+40)

% change in Quantity Demanded of good X = 66.67%

% change in price of good Y = P2-P1 × 100

( P1+P2)

Last month Total Revenue = $100

Total Units = 50

Last month Price / unit = 100/50 = $2

This Total Revenue $120

Total units 40

This monthPrice / unit = 120/40 = $3

% change in price of good Y= 3 - 2 × 100

3+2

% change in price of good Y = 1 × 100

2.5

% change in price of good Y = 40%

Cross-Price Elasticity = 66.67

Cross- Price Elasticity = 1.67

Since its greater than 1 its Cross price elasticity of Substitute

also as the price of good y increased from $2 to $3 the quantity demanded of good x increased although its price remained constant which indicates its a substitute good as people preferred buying good x instead of good y

6 0

2 years ago

Item 1 Lawrin is a real-estate salesperson whose compensation is commission-only. She earns a 3% commission on the sale price of

Lera25 [3.4K]

Answer:

Gross pay= $13,357.8

Explanation:

Giving the following information:

Gross commission= 3%

Sales= $445,260

The gross pay is the amount earned before tax and other deductions. We need to use the following formula:

Gross pay= commission rate*sales

Gross pay= 0.03*445,260

Gross pay= $13,357.8

7 0

2 years ago

On September 11, 2016, Home Store sells a mower for $450 with a one-year warranty that covers parts. Warranty expense is estimat

xeze [42]

Answer:

Date Accounts Titles and Explanations Debit Credit

Sept, 11 Cash $450

2016 Sales $450

(To record the Cash Sales)

Sept, 11 Warranty Expenses $40.50

2016 ($450 x 9%)

Estimated Warranty Payable $40.50

(To record the Warranty Expenses)

July, 24 Estimated Warranty Payable $32

2017 Repairs Parts Inventory $32

(To record the material taken from Inventory)

6 0

3 years ago

For business combinations involving less than 100 percent ownership, the acquirer recognizes and measures all of the following a

Mariana [72]

Answer:

b. Liabilities assumed, at book value.

Explanation:

International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) require everything (Assets, Liabilities and Non-controlling interest) to be measured at the fair market value, the amount a third-party would pay on the open market, at the time of acquisition — the date that the acquirer took control of the target company.

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2 years ago

The separation of a manufacturing process into distinct tasks and the assignment of different tasks to different individuals is

dolphi86 [110]

The separation of a manufacturing process into distinct tasks and the assignment of different tasks to different individuals is called specialization.

What is the separation of a manufacturing process?

The number one production thing of the chemical system industries is separation processes (CPI).
These crucial responsibilities encompass doing away with impurities from uncooked materials, improving and purifying number one products, and casting off impurities from effluent water and air streams.

What is conditioning withinside the production system?

A material's inner structure is altered in the course of conditioning processes, converting the material's houses.
These tactics modify a material's hardness, corrosion resistance, strength, or different houses via the usage of heat, mechanical force, or chemical reaction.

Learn more about specialization

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6 0

1 year ago