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3 years ago

What is the difference between an increase in supply and an increase in quantity supplied?.

Business

1 answer:

lyudmila [28]3 years ago

7 0

Answer:

<u>An 'increase in supply' means the supply curve has shifted to the right while an 'increase in quantity supplied' refers to a movement along a given supply curve in response to an increase in price.</u>

Explanation:

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In each of the following transactions ( a ) through ( c ) for Romney's Marketing Company, use the three step process illustrated

-Dominant- [34]

Answer:

Romney's Marketing Company

Using the three-step process to record the adjusting entry at year-end December 31, 2015:

a1. Expense was incurred

2. Cash will be paid in the future

3. The amount of the adjustment is $450

b1. Revenue was earned at December 31, 2015

2. Cash will be received in the future.

3. The amount of the adjustment is $280.

c1. Expense was incurred.

2. Cash will be paid in the future.

3. The amount of the adjustment is $8,000.

Explanation:

a) Data and Calculations:

Interest receivable = $280 ($6,000 * 14% * 4/12)

b) The three-step process for recording the adjusting entry at year-end:

(1) determining if revenue was earned or an expense incurred.

(2) determining whether cash was received or paid in the past or will be received or paid in the future.

(3) computing the amount of the adjustment.

6 0

3 years ago

Bricker Enterprises purchased a machine for $100,000 on October 1, 2018. The estimated service life is ten years with a $10,000

lutik1710 [3]

Answer:

$2,250

Explanation:

Given;

Cost of machine = $100,000

Residual value = $10,000

Useful life = 10 years

Annual depreciation = (Cost - Residual value ) ÷ useful life

= ($100,000 - $10,000 ) ÷ 10

= $90,000 ÷ 10

= $9,000 per year

Duration from October 1, 2018 to December 31, 2018 in year = $\frac{3}{12}$ years

= 0.25 year

therefore,

Depreciation expense for the year ended December 31, 2018

= Annual depreciation × Duration

= $9,000 × 0.25

= $2,250

3 0

3 years ago

Glover Corporation issued $2,000,000 of 7.5%, 6-year bonds dated March 1, with semiannual interest payments on September 1 and M

Stels [109]

Answer: This could be explained as below :-

Explanation:

A. Bonds were issued for $97 with par value of $100, hence they were issued on discount.

B. Market rate was higher, as company issued bonds on discount.

C. Amortization = $2,000,000 * 7.5% * 10/12 = $125,000

Discount = $60,000/6 * 10/12 = $8,333

Total interest expense = $125,000 + $8,333 = $133,333

D. Carrying value = $2,000,000 - $51,667 ($60,000 - $8,333) =$1,948,333

5 0

4 years ago

Xyz company makes one product and has calculated the following amounts for direct labor: ah x ar = $84,000; ah x sr = $83,000; s

labwork [276]

Answer:

1,000 Unfavorable

Explanation:

AH x AR = $84,000;

AH x SR = $83,000;

SH x SR = $85,000.

Compute the labor rate variance

then,

($84,000 - $83,000) = 1,000 Unfavorable

To learn more about labor cost variance, refer

to brainly.com/question/24553900

#SPJ4

8 0

2 years ago

Pedro, a sales manager, asks Rafael, one of his new recruits, to send him a sales report by EOD (end of day). Rafael intends on

Tom [10]

Answer:

Bypassing

Explanation:

Bypassing in the business communication means there is a miscommunication because the intended person derived incorrect meaning that result in misunderstanding. In the given scenario, the Rafael derived incorrect meaning of the sending report by the end of the day which he thought, he can send the report by leaving office and finishing it at home. However the manager meant that the report would be finished today within the business hours. So bypassing is the correct answer.

5 0

4 years ago

Read 2 more answers