In the beginning, some entrepreneurs use ___________

Moira Company has just finished its first year of operations and must decide which method to use for adjusting inventory account

Scrat [10]

Answer:

The Cost of good sold will decrease by 10,000

The other accounts balance will be the same.

Missing Information:

Ending balances in the relevant accounts were:

Work-in-Process 40,000

Finished Goods 80,000

Cost of Goods Sold 680,000

Explanation:

The company applied overhead for the amount of 435,000

This was charged into finished good which latter become cost of goods sold.

Then, as the actual overhead was 425,000 we have to adjust for the over-applied overehad. We applied more than it cost so we have to reduce it.

435,000 - 425,000 = 10,000

We will decrease our COGS against the factory overhead account.

COGS 10,000 debit

factory overhead 10,000 credit

8 0

3 years ago

In an eight-hour day Nicolas can catch 24 pounds of fish or he can repair 15 cars. In an eight-hour day Alejandro can catch 27 p

Roman55 [17]

Answer:

Explanation:

Here Nicolas will gain comparative advantage only when he is selling the good he is specializing in and he would specialize in that good which would have lower opportunity cost for him. So the first step that we have to do here is to find out for which good Nicolas will have lower opportunity cost.

For Nicolas who in 8 hours can either catch 24 pound of fish or repair 15 cars,

the opportunity cost for catching 1 fish is = 15/24 = .625

the opportunity cost for repairing 1 car is = 24/15 = 1.6

So from the above observation we can say that for Nicolas catching fish has lower opportunity cost for him , so he should specialize in catching fish.

Therefore the term of trade for Nicolas would be

1 fish = .625 cars ,

if he can catch and sell 100 units worth of fish then he would have to give up 62.5 cars and then only he will gain from trade,

1 x 100 fish = .625 x 100

100 fish = 62.5 cars.

8 0

3 years ago

Read 2 more answers

Amanda is trying to decide whether to get a job after graduation or to spend another year in school to get her master's degree.

Alenkinab [10]

Answer:

36,000

Explanation:

5 0

3 years ago

Parliament Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Parliam

ss7ja [257]

Answer:

Note: The complete question is attached as picture below

We are add the previous month +10% to get that month's amounts

Sales Budget

January February March

Cash sales $50,000 $55,000 $60,500

Credit sales $120,000 $132,000 $145,200

Total sales $170,000 $187,000 $205,700

Workings:

February

Cash sales = 50,000+(50,000*10%) = $55,000

Credit sales= 120,000+(120,000*10%) = $132,000

March

Cash sales = 55,000+(55,000*10%) = $60,500

Credit sales= 132,000+(132,000*10%) = $145,200

7 0

2 years ago

Justin is the CEO of Nexon Inc. He works in an open office and encourages his employees to approach his desk any time of day. Ju

nikitadnepr [17]

Answer:

The answer is: Democratic management style

Explanation:

This management style is based on the belief that two heads are better than one, and that every employee (no matter position they hold) deserves to have a say.

So managers that follow this style usually encourage their employees to participate and share their ideas and suggestions. They tend to create horizontal organizations, but the final and last decision still belongs to the boss.

Employees usually like this system because they feel they are a valuable and important part of the organization. Many times it leads to higher efficiency and productivity.

As a downside, these organizations tend be more messy (informal) and decision making processes are very time consuming.

5 0

3 years ago

In the beginning, some entrepreneurs use ____________ as a source of financing.