Hi there!
The best thing you could do is keep open communication with your supervisor and remain honest when things happen.
Hope this helps!
Answer and Explanation:
The computation is shown below:
a. The percentage of loss covered is
= Bought price of insurance policy ÷ purchase price × 100
= $160,000 ÷ $178,000 × 100
= 89.89%
b. The dollar amount of loss covered is
= Percentage of loss covered × suffered amount
= 89.89% × $23,000
= $20,674.70
c. For reimbursement of the fire loss the amount should be equal to the replacement cost of the home i.e $300,000. It is fully reimbursed
We simply applied the above formula
Answer:
The adjusting entry needed on December 31 is:
Debit Unearned Rent revenue $10,800
Credit Rent Revenue $10,800
Explanation:
Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.
The tenant paid five months' rent in advance on October 1. From October 1 to December 31, Vista View Company had rented warehouse space to a tenant for 3 months.
The adjusting entry needed on December 31 is:
Debit Unearned Rent revenue $10,800 ($3,600 x 3 = $10,800)
Credit Rent Revenue $10,800
Answer:
Lies below its demand curve and is steeper than its demand curve.
Explanation:
The marginal revenue curve for a monopolist lies below the demand curve because of the quantity effect. The quantity effect refers to the fact that even a monopolist must lower its price if it wants to sell a larger quantity of goods or services.
The slope of the marginal revenue curve is steeper than the demand curve because it reflects the market power of the monopolist. Instead, the marginal revenue curve for a perfectly competitive firm (with 0 market power) is horizontal or perfectly elastic.
Answer:
The isoquants will be straight parallel lines.
Explanation:
In the given secanrio copper or bronze may be used to produce jewellery. The utility derived from use of either one is the same. They are perfectly interchangeable. Therefore copper and bronze are perfect substitutes.
The isoquant curve shows all combinations of input that can be used to produce units of output.
For goods that have perfect substitution the isoquants are straight lines that are parallel to each other. The marginal rate of technical substitution is 1, and isoquant have slope angle of 45° with each axis.
Find attached an illustration of this. So copper is a perfect substitute for bronze.
