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Katarina [22]
3 years ago
15

Cotton created the antebellum South. The wildly profitable commodity opened a previously closed society to the grandeur, the pro

fit, the exploitation, and the social dimensions of a larger, more connected, global community. How did this profitable commodity effect the institutions of slavery in America?
Business
1 answer:
Amiraneli [1.4K]3 years ago
5 0

Answer:

Slavery in the southern US began to expand in the Virginia Colony with the tobacco plantations in the Chesapeake area. It expanded southwards with time, first to the Carolinas, were slaves were imported to work in Rice Plantations, and, finally the Georgia colony.

However, cotton began to replace tobacco, rice and sugar in the South, because it was more profitable, and suited better the soil and climate of the region. With the cultivation of cotton, slavery became widespread in the US. The majority of slaves were "imported" from the end of the 17th century to the first decades of the 18th century.

Cotton plantations made then, slavery institutions of the antebellum South widespread, strong and entrenched. The economics of the South practically depended on slavery, just like the economics of the Roman Empire a millenium ago.

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In the long run the prices charged by a firm in monopolistic competition will be
kumpel [21]

Answer: The correct answer is "d. equal to average cost, including the opportunity cost of capital.".

Explanation: In the long run the prices charged by a firm in monopolistic competition will be equal to average cost, including the opportunity cost of capital.

In long-term monopolistic competition, the demand curve will be tangent to the average long-term cost and the price set at this level. The benefits will be equal to zero and therefore there will be no entry or exit of companies.

6 0
3 years ago
Sebastian Wayne's filing status is married filing jointly, and he has earned gross pay of $3,940. Each period he makes a 401(k)
Artist 52 [7]

Answer:

Social Security Tax = $ 244.28

Medicare tax = $ 57.13

Explanation:

Social Security Tax: $3,940 x 6.20% = $244.28

Medicare tax: $3,940 x 1.45% = $ 57.13

4 0
4 years ago
Ari, Inc. is working on its cash budget for December. The budgeted beginning cash balance is $14,000. Budgeted cash receipts tot
Andreas93 [3]

Answer:

The company needs to borrow $25000 and option B is the correct answer.

Explanation:

If the ending amount of cash for the year is less than the desired ending balance, then the company will need to borrow to maintain the desired level of cash balance.

To calculate the amount needed to be borrowed, we first compute the ending cash balance for December. The ending cash balance will be,

Closing Balance = Opening Balance + Receipts - Payments

Closing Balance - December = 14000 + 127000 - 126000

Closing Balance - December = $15000

The difference between the closing cash balance and the desired closing cash balance is the amount that the firm will need to borrow.

Amount need to be borrowed = 40000 - 15000  =  $25000

6 0
3 years ago
Vacation Destinations offers its employees the option of contributing up to 7% of their salaries to a voluntary retirement plan,
aliina [53]

Answer:

Follows are the solution to the given points:

Explanation:

For question 1:

Exp on the Debit Salary = $ 1,500,000

Credit payable Income tax = $375,000

Credit accounts payable (pension plan)= $63,000

Credit  payable tax on FICA= $114,750

Credit  payable salary (Balance) $947,250

For question 2:

Exp = $100,500 for Debit Wages

Cr.=   $31,500 (Surgical Insurance) Payable accounts

Cr. =  $6,000 in insurance accounts payable

Cr. = $63,000  Payable Accounts (Pension plan) 

For question 3:

EXP= $207,750  for Debit Payroll Tax

Cr. =  $114,750 for FICA payable tax

Cr.  =$93000 for Federal and State (Unemployment tax)

FICA TAX = \$1500,000 \times  \frac{(6.2+1.45)}{100} = \$ 114,750\\

Tax on state or federal unemployment =\$ 1500,000 \times  6.2 \% = \$ 93,000\\

5 0
3 years ago
During December of Year 1, Nile Co. incurred special insurance costs but did not record these costs until payment was made durin
o-na [289]

Answer:

The omission of this entry understated accrued liabilites. given that the related inventory was sold in year 1, it aslo overstated net income and retained earnings by understating cost of goods sold,  the same effects would occur if the insurance costs were chargeable to expense as a period cost

Explanation:

Rules specify that contingent liabilities should be recorded in the accounts when it is probable that the future event will occur and the amount of the liability can be reasonably estimated. This means that a loss would be recorded (debit) and a liability established (credit) in advance of the settlement.

4 0
3 years ago
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