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3 years ago

When the excess capacity of business expands unintentionally, aggregate: demand will increase supply will decrease?

1 answer:

6 0

Fall in business taxes shifts supply curve to the right since business supply move with less taxes. Also Fall in business taxes increases after tax profit on investment. So aggregate demand shifts right. Hence, it increases aggregate demand and increases aggregate supply also.

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Zen Arcade paid the weekly payroll on January 2 by debiting Salaries and Wages Expense for $47,000. The accountant preparing the

hram777 [196]

Answer:

Salaries and wages payable...................Dr $20,000

Salaries and wages expense $20,000

Explanation:

As per accrual system, an expense is incurred when it is accrued irrespective of when it is paid. So, $20,000 was accrued in December 31, salary and wages expenses would have been debited then amounting to $20,000.

In order to rectify the mistake of double counting, the entry passed by the accountant would be reversed to nullify the effect.

Adjusting Journal entry:

Particulars Debit Credit

Salaries and wages payable $20,000

Salaries and wages expense $20,000

(Being double counting of salaries and

wages expense rectified)

4 0

3 years ago

Selected data from Emporia Company follow: Balance Sheets As of December 31 2018 2017 Accounts receivable $ 600,000 $ 480,000 Al

svet-max [94.6K]

Answer:

Compute the accounts receivable turnover for 2018.

4.29 times

Compute the inventory turnover for 2018

3.6 times

Compute the net margin for 2017.

24.58%

Explanation:

Compute the accounts receivable turnover for 2018.

accounts receivable turnover = Sales / Accounts receivable

= $ 2,400,000 / $ 560,000

= 4.29 times

Compute the inventory turnover for 2018

Inventory turnover = cost of Sales / inventory

= $1,800,000 / $ 500,000

= 3.6 times

Compute the net margin for 2017.

net margin = Net Profit / Sales × 100

= (2,400,000-1,810,000) / 2,400,000 × 100

= 24.58%

3 0

3 years ago

Swifty Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/20 Purchase 55 $46 3/14/20 Pur

kykrilka [37]

Answer:

$3,785

Explanation:

FIFO Inventory valuation method requires that the Inventory which is purchased first should be sold first and inventory Purchased at last should be sold at last.

As we know Gross profit is the Net of Sales and Cost of Goods Sold.

Sales $9,800

Cost of Goods Sold <u>($6,015)</u>

Gross Profit <u>$3,785</u>

All workings are made in an MS Excel File, which is attached with this answer Please find it.

Download xlsx

5 0

3 years ago

Schmid Corporation issues $450,000, 12%, 5minusyear bonds on January 1, 2019 for $439,000. Interest is paid semiannually on J

Mamont248 [21]

Answer:

$28,100

Explanation:

The computation of the bond interest expense is shown below:

= (Issued amount × interest rate) + (Issued amount - given amount) ÷ time period

= ($450,000 × 6%) + ($450,000 - $439,000) ÷ 10 years

= $27,000 + $1,100

= $28,100

In semi annual period, the interest rate is half and the time period is doubles and the same is shown

4 0

3 years ago

Determine how each scenario impacts the capital stock, including the effect of depreciation, if applicable. a. A salesperson dro

mars1129 [50]

Answer:

the answer is B.)

Explanation:

3 0

3 years ago