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yarga [219]
3 years ago
6

Suppose that the economy enters into a recession and​ that, as a​ result, Rusty Z. Wrench loses his job as a delivery truck mech

anic and remains unemployed. When the economy​ recovers, Rusty's previous employer rehires him. What is the best classification for his time as an unemployed truck​ mechanic?
Business
1 answer:
aniked [119]3 years ago
3 0

Answer:

Rusty is cyclically unemployed.

Explanation:

Rusty Z. Wrench loses his job as a delivery truck mechanic and remains unemployed when the economy enters into a recession. When the economy recovers, Rusty is rehired.  

Here, unemployment is being caused by the business cycle so we will classify it as cyclical unemployment.  

Cyclical unemployment can be defined as the unemployment that is caused due to fluctuations in the economy or business cycles.

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Match the products below with the type of market in which they are sold.
hram777 [196]

Dollars - currency exchange market

Shares -stock markets

Wheat-commodity market

8 0
3 years ago
Read 2 more answers
The gross earnings of the factory workers for Larkin Company during the month of January are $91,000. The employer's payroll tax
cestrela7 [59]

Answer:

Explanation:

The journal entry is shown below:

(a) Factory Labor/Expenses A/c Dr $103,800

        To Factory wages payable               $91,000

         To Employer payroll taxes payable $7,700

         To Fringe benefits payable              $5,100

(Being labor expenses are recorded)

(b) Direct labor A/c Dr   $87192 ($103,800 × 84%)

    Indirect labor A/c Dr $16,608 ($103,800 × 16%)

          To Factory Labor                     $103,800

(Being factor labor is assigned)

7 0
3 years ago
Presented below is information related to Splish Company. Cost Retail Beginning inventory $362,797 $286,000 Purchases 1,370,000
KiRa [710]

Answer:

$200,455

Explanation:

For calculating the inventory by the conventional retail inventory method. we required to do the following computations which are shown below:

Using cost method

Goods available for sale:

= Beginning inventory + Purchases

= $362,797 + $1,370,000

= $1,732,797

Using retail method

Goods available for sale:

= Beginning inventory + Purchases  + Net markups - Net markdowns

= $286,000 + $2,145,000 + $80,300 - $27,800

= $2,483,500

Now

Cost to retail ratio = $1,732,797 ÷ ($286,000 + $2,145,000 + $80,300)

                             = $1,732,797 ÷ $2,511,300

                             = 0.69

Now

Estimated ending inventory at retail

= Goods available for sale under Retail method - Sales revenue

= $2,483,500 - $2,193,000

= $290,500

So,

Estimated ending inventory at cost:

= Estimated ending inventory at retail × Cost to retail ratio

= $290,500 × 0.69

= $200,455

5 0
3 years ago
Other things held constant, which of the following actions would increase the amount of cash on a companys balance sheet? Select
Leokris [45]

Answer:

Correct option is (c)

Explanation:

When the company repurchases common stock, it has to pay cash to the shareholders to gain rights on the stocks. So, cash decreases in this case.

Payment of dividend also decreases cash from balance sheet.

When company needs cash for investment or growth purpose, it issues common stock to raise funds, thereby increasing cash in the company's balance sheet.

When company gives more time to its debtors, receipt of cash is delayed thereby not increasing cash in balance sheet.

Purchase of new equipment will reduce cash balance.

So issue of new shares increase cash balance in balance sheet.

7 0
2 years ago
In preparing a company's statement of cash flows for the most recent year, the following information is available:
Butoxors [25]

Answer:

- $ 138,000

Explanation:

The investment activities includes the transaction done on purchasing the equipment and selling the land.

Thus, for the given question

The list of investment activities:

Purchase of Equipment = - $ 149,000  

Proceeds from Sales = $ 130,000  

Purchase of Land = - $ 119,000

here, the negative sign depicts the amount is paid

thus, the net cash flow from the investment activities

= - $ 149,000 + $ 130,000 + (- $ 119,000)

or

the net cash flow from the investment activities = - $ 138,000

3 0
2 years ago
Read 2 more answers
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