Ask question

Ask question

All categories

3 years ago

9

Walter opens a motorcycle repair shop where he will not only repair motorcycles, but will also offer custom paint jobs, accessor

ies and some t-shirts. When Walter opened his business, his primary objective was to:

1 answer:

beks73 [17]3 years ago

5 0

Make a profit...............

You might be interested in

The Federal Reserve can: A. simultaneously set any money supply and any nominal interest rate target. B. set the target money su

adell [148]

Answer:

The answer is C.

Explanation:

The Federal Reserve acts as the Central Bank. And the tool it uses to control the economy is monetary policy and its tools are:

1. Reserve requirements

2. Open market operation

3. Discount rate(interest rate)

The Federal reserve can control the money supply in the eco economy through any of these tools.

For example, if Federal reserve wants to increase the money supply, they can do the following:

a) reducing the interest rate it lends commercial banks money, commercial banks too reduces the interest it charges businesses or households. With lower interest, households and businesses are encouraged to borrow, thereby increasing the money supply and vice-versa.

b) lowering the reserve requirements. Reserve requirement is the minimum balance commercial banks must have with the federal reserves. This is guided by law. Lowering the reserve requirements enable commercial banks to have more money to lend to their customers and vice-versa.

In all, Federal reserve use any of these tools to control money supply that is consistent with their target nominal interest rate.

4 0

3 years ago

consider your decision to read this textbook on economics. identify which of the four core principles of economics is most relev

Verizon [17]

The four core principles of economics that is most relevant for each aspects of that decision are:

scarcity
supply and demand
costs and benefits
incentives

<h3>What are the core principles of economics?</h3>

Scarcity can be regarded as the economic concept which serves as the basic fact of life that there exists only a finite amount of human and nonhuman resources .

Supply and demand serves as the economic model of price determination that is bee used in the market and it seen in a competitive market, the unit price for a particular good, .

Learn more about economics from

brainly.com/question/17996535

#SPJ1

7 0

1 year ago

Havermill Co. establishes a $250 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

d1i1m1o1n [39]

The journal entry to record the increase in the fund balance on October 1 has been recorded by debiting the petty cash and crediting the cash with $50.

Further explanation:

Petty cash fund: It refers to the fund established for paying the small amount of expenditures which are incurred on a daily basis. The petty cash fund is suitable for small payments where the check is not useful.

Journal entry: The journal entry is the mode of recording the transactions of the business in the general journal. The transactions are recorded as per debit and credit balances. The transactions are recorded according to date and time.

The journal entry to record the increase in the fund balance on October 1:

Date Accounts Title and Explanation Post Ref. Debit ($) Credit ($)

1-Oct Petty Cash 50

Cash 50

(to record the increase in fund balance on October 1)

The balance of petty cash is debited as it is an asset. The cash has been credited as it has been transferred to the petty cash fund. Thus, the journal entry has been passed by debiting petty cash and crediting cash with $50.

Learn more

1. Average cost and average revenue brainly.com/question/12987402

2. Direct materials efficiency variance brainly.com/question/12987884

3. Cost of materials

brainly.com/question/4783765

Answer details

Grade: Middle School

Subject: Fundamental Accounting

Chapter: Journal entries

Keywords: Havermill Co., $250 petty cash fund, miscellaneous expenses, $250 petty cash fund, the fund has a balance of, on September 30, the fund is replenished, $137 for merchandise inventory, the journal entry to record, accumulated receipts, office supplies, accountant determines that fund has a balance of $18, fund should be increased by $50, October 1, date represents.

8 0

3 years ago

Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its y

uysha [10]

Answer:

$43,030

Explanation:

IAS 2 Inventories states that inventory is to be recognized at cost, however, subsequent measurement requires that inventory be carried at the lower of cost or net realizable amount (NRV).

As such, where the cost of inventory is higher than the NRV, it is written down to the NRV using the following entries,

Debit Inventory write off/Cost of goods sold

Credit Inventory account

with the difference between the cost and the NRV.

Inventory Quantity Unit Cost Unit NRV New unit cost

Furniture 230 $88 $103 $88

Electronics 53 $430 $315 $315

From the analysis above, the cost of inventory is lower than the NRV for Furniture, hence no adjustment is required. However, the cost of Electronics is higher than the NRV hence a write down is required. This amount is

= ($430 - $315) × 53

=$115 × 53

= $6,095

Total recorded cost(ending) of inventory before any adjustment

= (230 × $88) + (53 × $430)

= $43,030

5 0

3 years ago

Stricter laws and regulations to protect intellectual property rights A. will only benefit those companies whose intellectual pr

asambeis [7]

Answer:C. will help to create a more successful market system.

Explanation: Intellectual properties are creations of the mind,they are works of people's creative mindset. Intellectual properties can be protected through any of the four different classes of rights

(1) Copyright,(2) patents (3) trademarks (4) trade secrets.

Copyright is the exclusive right give to the creator or the originator of an intellectual property for him or her to continue to recreate for a specific period of time, it is renewable.

Patent is a right or authority given by Government to the creator of an intellectual property to prevent others from recreating the same invention over a period of time.

Trademarks are a type of intellectual property rights which represented by some signs signifying that it is produced under authority.

Trade secrets are certain undisclosed facts or procedures concerning the creation of a given invention,they are recognised by Government.

PUTTING STRICTER LAWS TO PROTECT INTELLECTUAL PROPERTIES RIGHTS will help to CUT DOWN THEFT, CORRUPTION AND HELP TO MAKE THE MARKET STRONGER AND BETTER.

5 0

3 years ago

Read 2 more answers