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3 years ago

The following preliminary unadjusted trial balance of Ranger Co., sports ticket agency, Errors in trial balance

Business

1 answer:

sp2606 [1]3 years ago

6 0

Answer and Explanation:

The preparation of the corrected un-adjusted trial balance is presented below:

Particulars Dr Amount Cr Amount

Cash $15,500

Accounts Receivable $46,750

Prepaid Insurance $12,000

Equipment $190,000

Accounts payable $24,600

Unearned rent $5,400

Common stock $40,000

Retained Earnings $70,000

Dividends $13,000

Service Revenue $385,000

Wages expense $213,000

Advertising expense $16,350

Miscellaneous expense $18,400

Total $525,000 $525000

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Whenever marginal cost is greater than average total cost, A. average total cost is rising. B. marginal cost is falling. C. aver

Damm [24]

Answer:

A. average total cost is rising.

Explanation:

Whenever marginal cost is more than average cost it means it costs more to produce a unit now compared to the average cost of the previous units. Lets assume that a company produces 3 units of a good.

The first unit costs $1

The second unit costs $2

The third unit costs $3.

The average cost is (1+2+3)/3=2

Now if the marginal cost for producing a unit is more than the average cost for example if the marginal cost is 4, then this will mean that average total cost is rising. we can mathematically check this.

The first unit costs $1

The second unit costs $2

The third unit costs $3.

The fourth unit costs $4

Average cost= (1+2+3+4)/4=10/4=2.5

Here we see that the average cost increased from 2 to 2.5 because marginal cost was greater than average cost.

4 0

3 years ago

Ursula wants to buy a $19,000 used car. She has savings of $2,000 plus an $800 trade-in. She wants her monthly payments to be ab

kow [346]

Answer:

Explanation:

Ursula needs $19,000 or in other words FV (Future value)

She has savings of $2000 and trade in of $800 or in other words she has $2800. She needs to borrow $16200 (19000-2800)

Also, she wants monthly payment to be $282. To find which answer fits best, let's check each of them.

A) APR =78% or mothly rate of 78/12 = 6.5%; 48 months

Using financial calculator:

Rate = 6.5%

n = 48

PV = $16200

Find PMT? PMT = 11068

This is not the right answer

B) APR = 78%, monthly rate=6.5%

n = 60

PV = $16200

Find PMT? PMT = 1077.6

This is not the right answer

C) APR = 7.8%; monthly 0.65%

n =72

PV = $16200

Find PMT? PMT = 282.4

This is the correct option

Answer is - C

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3 years ago

Read 2 more answers

Robin has moved to a new town during her sophomore year in high school. In order to find a new group of friends, she joins the s

ira [324]

Answer:

Letter d is correct. Coping behavior.

Explanation:

The most suitable alternative to the question is the letter d.

Coping behavior can be defined as behavioral and cognitive efforts that an individual exerts to manage some issues that can be internal or external. This type of behavior is used when it is necessary to deal with great changes.

Therefore coping behavior is a process that an individual finds to manage stressful situations that can cause some type of anxiety.

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3 years ago

Read 2 more answers

Every year, General Mills issues a report discussing how the firm has performed against its own standards of conscious marketing

goblinko [34]

Answer:

The correct answer is letter "D": control.

Explanation:

The control phase of the marketing planning process involves comparing the activities that the advertising team has developed with the expected set of actions established. This phase is important to identify if the firm as a whole is meeting the desired performance or if there are adjustments necessary to be made.

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3 years ago

The owner of an orange grove must decide when to pick one variety of oranges. She can sell them for $27 a bushel if she sells th

uysha [10]

Answer:

The oranges should be picked in 2 weeks for maximum return

Explanation:

We assume that the return of the owner is y ($)

Assume that the number of weeks the oranges should be picked to have maximum return is x (weeks). (x≥0)

If collect now, the price for each bushel is $27

As the price per bushel decrease by $1.50 per bushel each week

=> After x weeks, the price of a bushel decrease: 1.5x ($)