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2 years ago

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

Business

1 answer:

lyudmila [28]2 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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Suppose Hoosiers, a specialty clothing store, rents space at a local mall for one year, paying $13,800 ($1,150/month) in advance

tigry1 [53]

Answer:

Dec 31 Rent expense $3450 Dr

Prepaid Rent $3450 Cr

Oct 1 Prepaid Rent $13800 Dr

Cash $13800 Cr

Year end balances at 31 December:

Rent Expense = $3450

Prepaid Rent = $10350

Explanation:

Assumption: The year end for the business in on 31 December.

The rent is paid in advance thus it is an asset. On 31 December the adjusting entry will be made under the accrual principle to match the current period's rent expense and record it in the period to which it belongs to. Thus we will credit the rent expense for 3 months i.e. October, November and December. We will credit the asset account that is Prepaid Rent.

The prepayment of rent is creating an asset account in the title of prepaid rent. The entry would be to record the asset prepaid rent by the full amount of the rent prepaid and credit the other asset account through which the payment is being made.

The adjusted year end balance for rent expense will be the rent expense paid for this period that is $1150 * 3 = 3450

The balance in the prepaid rent account after adjusting the rent expense will be,

Prepaid rent = 13800 - 3450 = $10350

8 0

3 years ago

Yada Company manufactures luggage sets. Yada sells its luggage sets to department stores. Yada expects to sell 2 comma 000 lugga

Inessa05 [86]

Answer:

JANUARY FEBRUARY

TOTAL SALES $410,000 $430,500

Explanation:

for January

number of luggage set sold 2000

price for each set = $205

sales for month January = 205*2000 = $410,000

for February

number of luggage set sold 2100

price for each set = $205

sales for month February = 205*2100 = $430,500

JANUARY FEBRUARY

TOTAL SALES $410,000 $430,500

6 0

3 years ago

Strategy implementation can be the most difficult part of the strategic management process. Which of the following is not likely

RUDIKE [14]

Answer:

d) Competition

Explanation:

According to Rajasekar, J. (2014). <em>Factors affecting effective strategy implementation in a service industry</em> Strategic management process key factors are the role of leadership, the role of culture and the role of organizational structure in strategy implimentation.

On the other hand, "the absence of real competition is either not aware of the need to formulate a strategy and implement it (clarity of strategy) or believe there is no need to do so due to the business structure" (p.177)

Reference: Rajasekar, J. (2014). Factors affecting effective strategy implementation in a service industry: A study of electricity distribution companies in the Sultanate of Oman. International Journal of Business and Social Science, 5(9).

3 0

3 years ago

A refinery blends three petroleum components into three grades of gasoline -regular, premium, and diesel. The maximum quantities

erica [24]

Answer:

Explanation:

xij = barrels of component i used in grade j per day for i = A, B, C and j = R, P, D

Max Z = 18 (x AR + x BR + x CR) + 25 (x AP + x BP + x CP) + 15 (x AD + x BD + x CD) – 9 (x AR + x AP + x AD) – 7 (x BR + x BP + x BD) – 10 (x CR + x CP + x CD)

or,

Max Z = 9 x AR + 11 x BR + 8 x CR + 16 x AP + 18 x BP + 15 x CP + 6 x AD + 8 x BD + 5 x CD

Subject to,

x AR + x AP + x AD <= 6000

x BR + x BP + x BD <= 3000

x CR + x CP + x CD <= 4500

x Aj + x Bj + x Cj >= 5000 for j = R, P, D

x AR >= 30%*(x AR + x BR + x CR) or, 0.7 x AR - 0.3 x BR - 0.3 x CR >= 0

x BR <= 30%*(x AR + x BR + x CR) or, -0.3 x AR + 0.7 x BR - 0.3 x CR <= 0

x CR >= 30%*(x AR + x BR + x CR) or, -0.3 x AR - 0.3 x BR + 0.7 x CR >= 0

x CP >= 60%*(x AP + x BP + x CP) or, -0.6 x AP - 0.6 x BP + 0.4 x CP >= 0

x BD <= 50%*(x AD + x BD + x CD) or, -0.5 x AD + 0.5 x BD - 0.5 x CD <= 0

xAD >= 10%*(xAD + xBD + xCD) or, 0.9 xAD - 0.1 xBD - 0.1 xCD >= 0

xij >= 0 for i = A, B, C and j = R, P, D

6 0

3 years ago

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KonstantinChe [14]

Answer:

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Explanation:

8 0

3 years ago

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