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3 years ago

Provide examples of each: consumer durable goods, consumer nondurable goods, and services.

Business

1 answer:

belka [17]3 years ago

3 0

Answer:

Consumer durable goods: cars, departments.

Consumer nondurable goods: canned food, clothes.

Services: cable, internet, energy and water.

And the correct answer is the option A: A new Ford Fiesta.

Explanation:

To begin with, the durable goods in the microeconomics theory are those that do not wear out with one ot two uses, but instead it actually has a long life with multiple uses. It does not mean that those goods stay forever new. Meanwhile the nondurable goods are those that do wear out after one or two uses of the good and the most common example of that is the food and the clothes. Finally, the services are those that the people ask for in the case they want and specific situation to happen to them, like to have water, to have cable and internet, etc.

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Article 2 of the UCC deals with the sale of ___________. It does not deal with real property (real estate), services, or propert

yawa3891 [41]

Answer:

goods, common, predominant-factor

Explanation:

Article 2 of the UCC deals with the sale of GOODS. It does not deal with real property (real estate), services, or property such as stocks and bonds. Thus, if the subject matter of a dispute is goods, the UCC governs. If it is real estate or services, the COMMON law applies. If a contract involves both goods and services, the courts generally use the PREDOMINANT-FACTOR test to determine whether to apply the UCC

5 0

4 years ago

15 points) Assume the following information regarding U.S. and European annualized interest rates: Currency Lending Rate Borrowi

Masja [62]

Answer:

The Trainor Bank's dollar profit from speculating if the spot rate of the euro is in fact $1.10 in 90 days is $5,79,845

Explanation:

Bank Z borrow = €20 million

Spot rate 1€ = $1.13

Convert € in to $

€20 million *1.13 = $22.60 million

Lend $2,26,00,000 at interest rate of 6.73% for 90 days ( Assume total number of days in a year is 360)

= $2,26,00,000 + $2,26,00,000*(90/360)*6.73%

= $2,29,80,245

We need to find the euro to be repaid = €2,00,00,000 + €2,00,00,000*7.28%*(90/360)

= €2,03,64,000

To be repaid in $:-

€2,03,64,000*1.10 = $2,24,00,400

Profit from speculating in $ = $2,29,80,245 - $2,24,00,400

= $5,79,845

Therefore, The Trainor Bank's dollar profit from speculating if the spot rate of the euro is in fact $1.10 in 90 days is $5,79,845

5 0

3 years ago

A company has the following: Cash balance per books, December 31, $82,600. Note receivable of $1,750 plus $250 of interest colle

wel

Answer:

$83,000

Explanation:

Calculation to determine How much is the adjusted cash balance per books on December 31?

Balance per books on Dec. 31, $82,600

Add Note collected by the bank including interest $2,000

Less Bank service charge ($50)

Less NSF check ($650)

Less Book error ($900)

($1000-100)

Adjusted cash balance per books $83,000

Therefore the adjusted cash balance per books on December 31 is $83,000

3 0

3 years ago

Describe the main differences for revenue spending between ""for profit"" companies and ""not for profit"" companies. Describe h

Ket [755]

Answer with Explanation:

The analysis includes the assessment of Non profit organization's efficiency both in fundraising and spending, economy of operations and the effectiveness of the operations. This can be explained with an example. For example if the non profit organization has an objective to increase the book reading habit because it believes that the people who read more are not violent personalities and in this way they can reduce the crime rate. So it has established number of libraries in different communities. Now we will look at at what cost it has acquired these libraries (Economy), how much people have visited these libraries (Efficiency) and whether the crime rate in the community has sufficiently fallen or not (Effectiveness). So this helps in understanding whether the objective was met or not.

However when we analyze the financial statement of profit making organizations then we use many profit and efficiency ratios to assess the performance of the organization. These ratios can also be helpful if the NGO is in business as well. But most of the NGOs rely on grants and these grants are subjective to their previous performance.

The NGOs are also required to publish reports according to the grant provider's enforced accounting principles, rules and guidelines. Just take the example of US-AID program that requires the Non profit organization to publish financial reports in specific format and enforces different Generally Acceptable Principles to be used in preparing these financial reports. So yes it is much more different in analyzing the financial statements of Non profit organization and profit making organization.

8 0

4 years ago

Prepare a multiple-step income statement through the calculation of gross profit.

Darya [45]

Answer:

inventory 6,000 debit

account payable 6,000 credit

--to record July 1st--

Acc Rec 900 debit

Sales Revenues 900 credit (+900 income)

--to record sale--

COGS 500 debit (-500 expense)

Inventory 500 credit

--to record cost of sale--

Delivery expense 125 debit (-125 expense)

Cash 125 credit

--to record freight-out --

Cash 1,700 debit

Sales Revenues 1,700 credit (+1,700 income)

--to record sale--

COGS 1,300 debit (-1,300 expense)

Inventory 1,300 credit

--to record cost of sale--

Inventory 2,200 debit

Account Payable 2,200 credit

--to record purchase--

Account Payable 200 debit

Inventory 200 credit

--to record return of goods--

Cash 882 debit

Sales DIscount 18 debit

Accounts Receivables 900 credit

--to record payment from customer--

Account Payable 6,000 debit

Cash 5,940 credit

Inventory 60 credit

--to record payment to supplier--

Cash 1,200 debit

Sales Revenues 1,200 credit (+1,200 income)

--to record sale--

COGS 800 debit (-800 expense)

Inventory 800 credit

--to record cost of sale--

Sales Returns 200 debit

Account Receivables 200 credit

-- to record return from customer--

Account Payable 2,000 debit

Cash 1,960 credit

Inventory 40 credit

--to record payment to supplier--

Cash 980 debit

Sales DIscount 20 debit

Accounts Receivables 1,000 credit

--to record payment from customer--

Cash 7,000 debit

Sales Revenues 7,000 credit (+7,000 income)

--to record sale--

COGS 4,800 debit (-4,800 expense)

Inventory 4,800 credit

--to record cost of sale--

Explanation:

Cheek

900 x 2% = 18

net of discount 900 - 18 = 882

Boden:

6,000 x 1% = 60

Net of discount 6,000 - 60 = 5,940

Leight:

2,200 - 2,000 = 2,000 balance due

2,000 x 2% = 40

net of discount 1,960

Art Co:

1,200 - 200 = 1,000 balance due

1,000 x 2% = 20 discount

net = 1,000 - 20 = 980

8 0

3 years ago