Customers are billed by a business for services provided on account. The part of the journal entry that reads "D" stands for "debit accounts receivable."
You make a journal entry in the accounting journal when you send an invoice to a client. You can record the whole amount owed from the invoice as a debit in the accounts receivable account for the journal entry. Additionally, you record a credit in the sales account for the total amount owed from the invoice.
A journal is a book where all of a business's transactions are initially documented. Journalising is the process of entering transactions into a journal. Each transaction has two effects on the accounts: one debit and one credit.
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Dave Fletcher was able to determine the activity times for constructing his laser scanning machine. Fletcher would like to determine ES, EF, LS, LF, and slack for each activity. The total project completion time and the critical path should also be determined. Here are the activity times: Activity Time (weeks) Immediate Predecessor(s) Activity Time (weeks) Immediate Predecessor(s) A 6 minus E 4 B B 7 minus F 6 B C 3 A G 10 C, E D 2 A H 7 D , F Dave's earliest start (ES) and earliest finish (EF) are: Activity ES EF A 0 6 B 0 7 C 6 9 D 6 8 E 7 11 F 7 13 G 11 21 H 13 20
Critical Path: B - E - G and ES, EF, LS, and LF are indicated below. Project completion time: 21 weeks.
Explanation:
Hence, the latest of the earliest completion times of the predecessors is the time at which the earliest start occurs. The duration plus the earliest start add up to the earliest finish.
The earliest of the latest start times of the successors is the latest finish. The difference between the latest finish and duration called the latest start.
The discrepancy between the earliest start (or end) and latest start is known as the slack (or finish).
The earliest start date for the "Project Done" task is the project duration. This (project duration) is considered to be the most recent completion of the immediate predecessors for the purpose of computing slack.
The series of tasks with zero slack is known as the critical route.
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jessica is asked to conduct an stp analysis for her firm. the first step she should perform in this analysis is to
Jessica is invited to conduct an STP analysis for her company. The first step she must take in this analysis is to divide the market into subgroups.
What is STP analysis?It corresponds to a marketing approach whose acronym corresponds to Segmentation, Targeting, Positioning, which is used to position the product in the market and reach its consumers based on market segmentation.
Therefore, when well conducted, STP analysis is capable of increasing brand equity, competitiveness, profitability and market positioning.
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some partners in a partnership may have different rights, privileges, and responsibilities than other partners.
The partnership for the business specifies the rights of a partnership's partners. Any group comprising two or more people who have decided to start a business together is considered a partnership.
What are a partnership's benefits and drawbacks?Advantages: Disadvantages: A partnership firm is simple to establish because only the most basic legal procedures are necessary. Partnership businesses have uncapped liability, which affects the partners' financial assets.
Limited partnerships: what are they?Similar to a partnership agreement, a limited partner (LP) must include at least one small partner (GP) and at least one restricted partner, as opposed to the minimum requirement of two GPs for general partnerships.
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chuck, a single taxpayer, earns $77,900 in taxable income and $13,100 in interest from an investment in city of heflin bonds. (use the u.s tax rate schedule.) required: how much federal tax will he owe? what is his average tax rate? what is his effective tax rate? what is his current marginal tax rate?
The federal tax owed by Chuck would be $14,743. His average tax rate is 18.8% , his effective tax rate is 18.8% and his current marginal tax rate is 24%.
Chuck, a single taxpayer, earns $77,900 in taxable income and $13,100 in interest from an investment in city of heflin bonds. Using the US tax rate schedule, his federal tax owed would be $14,743.
The average tax rate is the proportion of income paid in taxes, which in Chuck's case is (14,743 / 78,900 )*100=18.8% .
The effective tax rate is the proportion of taxable income paid in taxes, which in Chuck's case is (14,743 / 78,900 )*100=18.8% . The marginal tax rate is the rate at which the next dollar of income will be taxed, which for Chuck's income level is 24%.
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Lucy kreb is a bookkeeper. Her personal excemptions are $84. 60 a week. State tax rate is 3. 5 percent of taxable income. Local tax is 1. 5 percent of gross pay
In order to determine Lucy's state tax, multiply her tax liability by the 3.5% state tax rate. Her local tax will be determined by dividing her gross income by the 1.5% local tax rate.
What does the term "state tax" mean?local tax. noun [ C or U ] A sales tax on something is a tax something which you earn to the state government rather than the federal government in the US. State taxes on gamblers do not exist at the moment.
What does the term "state income" mean?The State Domestic Market (SDP) is an accounting term for the total value of all value created within a State's borders during a specific time period.
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The owner of Darkest Tans Unlimited in a local mall is forecasting this month's (October's) demand for the one new tanning booth based on the following historical data: col1 Month April May June July August September col2 Number of Visits 100 140 110 150 120 160 What is this month's forecast using exponential smoothing with alpha =. 2, if August's forecast was 145? a. 163b. 142 c. 148 d. 140 e. 144
The forecasting using exponential smoothing with alpha =. 2 for this month is C.148.
The forecast for this month (October) using exponential smoothing with an alpha of .2, if August's forecast was 145, would be:
F(t) = α*D(t) + (1-α)*F(t-1)
Where:
F(t) = forecast for this month (October)
α = 0.2 (given)
D(t) = actual demand for the last month (September) = 160
F(t-1) = forecast for last month (August) = 145
So,
F(t) = 0.2*160 + (1-0.2)*145 = 32 + 116 = 148
Therefore, the answer is c. 148.
Exponential smoothing is a time series forecasting method used to predict future values based on historical data. It is a way of estimating the level of a time series data, by using a weighted average of past observations. The method assigns exponentially decreasing weights as the observations get older.
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how would living as cheaply as possible help you save for retirement?
Costs for upkeep, utilities, and property taxes will go down. If your family still has two cars, retirement is the ideal time to reduce that number to one in order to save money on fuel, insurance, and upkeep.
In what ways could a financial plan help you save money for retirement?With the help of a solid financial plan, you can predict how much it will cost you to retire and make a plan to ensure that you can live comfortably when you do.
Why is it so important to begin retirement savings as soon as possible?When it comes to retirement planning, it's never too early to start saving. If you invest more and begin earlier, your retirement funds will have significantly more time and opportunity to grow.
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as a strategic choice, why would red bull invest money in sponsoring extreme sports and other edgy activities, given that only a small percentage of their target customers are likely to engage in such activities?
As a strategic choice these events of Red bull are inexpensive to produce and promote.
What are the strategic choice of Red bull?The positioning strategy of Red Bull is based on the concept of product benefit to the consumer. The concept of Red Bull being positioned as Red Bull Gives You Wings is a metaphor that is central to the company's positioning strategies.A strategic choice is a decision that determines a company's future strategy. It addresses the question "Where shall we go". A SWOT analysis is performed to examine the firm's strengths and weaknesses, as well as opportunities that can be capitalized on.Red Bull's mission is straightforward and brief. They want to be the world's leading beverage and media brand, giving ideas and people wings. Giving wings implies increasing Red Bull consumption, as Red Bull is said to give you wings.To learn more about Red Bull refer to :
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The cost of production and advertising for these events is low. A pricing strategy whereby a business provides a product or service at a reasonably low cost to generate demand and expand market share.
What kind of expense is advertising?An operating expense is one that includes advertising. It is not included in the price of the items sold. When a business prepays advertising costs, the costs are initially reported as a current asset called a prepaid expense.
What form of advertising is the least expensive?However, there are several low-cost advertising strategies that can be successful, such as word-of-mouth marketing, print advertising in publications like newspapers, and social media platforms.
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In 2018, Michael has net short-term capital losses of $1,500, a net long-term capital loss of $27,000, and other ordinary taxable income of $45,000. If an amount is zero, enter "0". A. Calculate the amount of Michael's deduction for capital losses on his tax return for 2018. $ b. Calculate the amount and nature of his capital loss carryforward. $ $ c. For how long may Michael carry forward any long-term unused loss?
The maximum amount that can be adjusted from the taxpayer's regular income is... $53,000 for a loss of 28%, $28,000 for a gain of 25%, and $24,000 for a loss of 0%, 15%, or 20%.
What does adjusted by mean?
to slightly alter something in order to improve its correctness, effectiveness, or suitability: You can adjust the chair if it's too high for you. You must modify your teaching strategies to meet the needs of slower learners. Synonyms, antonyms, and examples in a thesaurus. He adjusted his eyes to the darkness. He readjusted his glasses and went back to writing in his fishing log. He began walking down the side aisle as his eyes grew accustomed to the brightness.
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The coordinate of the vertice of a polygon are the point 1 comma 2, the point 1 comma negative 1, the point negative 6 comma negative 1, and the point negative 6 comma 2.
What i the perimeter of the polygon?
The line that connects the first two is split in the ratio l:k, and the line that runs from the division point to the opposing angular point is divided in the ratio m:k+l.
What is the coordinate of vertices?The coordinates with one point in the coordinate system are included in an ordered pair. An set of points of the form of a point's name is (x, y). Its first integer stands for the x-coordinate, and the next for the y-coordinate.
The coordinates of a position are a set of integers that exactly identify its location on a the double plane. The coordinates of a given point indicate where on each axis it is located.
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on may 1, 2024, varga tech services signed a $141,000 consulting contract with shaffer holdings. the contract requires varga to provide computer technology support services whenever requested over the period from may 1, 2024, to april 30, 2025, with shaffer paying the entire $141,000 on may 1, 2024. how much revenue should varga recognize in 2024?
Varga Tech Services should recognize $141,000 of revenue in 2024. The contract with Shaffer Holdings is a fixed-price contract, meaning that the total amount to be paid by Shaffer is fixed at $141,000 and will be paid on May 1, 2024.
According to the Revenue Recognition principle, revenue should be recognized when it is earned, and in this case, the revenue is earned when the service is provided. Since the contract requires Varga to provide computer technology support services whenever requested over the period from May 1, 2024, to April 30, 2025, and the payment is due on May 1, 2024, revenue should be recognized in full in the year 2024. Additionally, the revenue should be recognized in the year the services are provided, which is 2024.
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what kind of organization is the sec? what role does the sec play in the establishment of accounting and auditing standards for public companies?
The SEC is more concerned with upholding accounting and auditing standards in the context of financial statements.
it receives from public corporations in accordance with federal securities laws than it is with creating standards itself. The Public Company Accounting Oversight Board is also under its supervision.
The SEC is a federal agency that establishes guidelines for the creation, promotion, and exchange of securities. The SEC is also responsible for safeguarding investors.
The Financial Accounting Standards Board (FASB) and Securities and Exchange Commission are the two institutions in charge of enforcing and defining generally accepted accounting standards (GAAP) (SEC). Accounting rules may be established by and enforced by the SEC.
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consider the information about the economy of pakistan. note that the currency of pakistan is the rupee. the government purchases: 2.70 2.70 trillions of rupees. individuals consume: 12.00 12.00 trillions of rupees. individuals save: 5.40 5.40 trillions of rupees. businesses invest: 1.80 1.80 trillions of rupees. foreigners spend: 0.54 0.54 trillions of rupees to purchase pakistani firms. pakistan imports: 2.13 2.13 trillions of rupees. pakistan exports: 1.30 1.30 trillions of rupees. calculate pakistan's gdp. assume that the values are all current and no conversions need to be made. give your answer in terms of trillions of rupees, and round to two decimals.
GDP = 2.70 + 12.00 + 5.40 + 1.80 + 0.54 - 2.13 + 1.30 = 19.31 trillion rupees
Calculate Gross Domestic Product
The equation used in this question is the formula for calculating Gross Domestic Product (GDP). GDP is a measure of the total value of goods and services produced in a given economy over a specified period of time. It is employed to gauge the size and expansion of an economy.
The steps for calculating GDP are as follows:
GDP = Government Purchases + Consumption + Savings + Investment + Foreign Spending - Imports + Exports
The government purchases = 2.70
Consumption = 12.00
Savings = 5.40
Investment = 1.80
Foreign Spending = 0.54
Imports = 2.13
Exports = 1.30
Then
GDP = 2.70 + 12.00 + 5.40 + 1.80 + 0.54 - 2.13 + 1.30
GDP = 19.31 trillion rupees
Therefore the Pakistan's GDP is 19.31 trillion rupees
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economic and political interdependence of nations; stop spread of totalitarian governments
Angell thought about the unity of a English-speaking world in light of the Soviet Union's emergence as a new totalitarian threat to the Western democracies.
What does the word totalitarian mean in plain English?Totalitarianism is a political system that seeks complete control over its citizens' lives. It is defined by a strict central government that uses force and repression to try and guide and control every element of a person's life. It does not allow for personal independence.
What is totalitarianism's polar opposite?In a democracy, citizens elect their leaders and participate in the formation of the government. Totalitarianism is the contrary; there is typically little to no freedom in a totalitarian society, which is typically ruled by a dictator. In totalitarianism, the state has complete authority over
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the administrator may summarily deny or revoke the exemption of which type of security? a non-profit charitable organization issues b securities guaranteed by a canadian province c federal credit union issues d insurance company issues
The correct response is A. NonProfit Charitable Organization Issues.
A nonprofit organization (NPO) or non-profit institution, also referred to as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity set up and run for a group's, the public's, or society's benefit as opposed to a business that operates to make money for its owners. The non-distribution limitation applies to nonprofit organizations; any surplus funds must be used to further the organization's goals rather than being distributed to outside parties. Several political groups, educational institutions, commercial associations, places of worship, social clubs, and consumer cooperatives are among the many organizations that fall under the nonprofit category. Governments may provide tax-exemption to nonprofit organizations upon request, and some may be eligible to accept contributions that are deductible for tax purposes.
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The Administrator may summarily deny or revoke the exemption of which type of security?
A. Non-Profit Charitable Organization Issues
B. Securities guaranteed by a Canadian province
C. Federal Credit Union Issues
D. Insurance Company Issues
which of the following statements correctly identifies advantages or disadvantages of a do not resuscitate (dnr) order as compared to a durable power of attorney for health care (dpoahc)? an advantage is that a dnr order can be used to take actions other than directing the principal's course of treatment. a disadvantage of a dnr is that a dpoahc can be used in more situations. an advantage is that a dnr order clearly states what medical care the principal wants rather than leaving such decisions to an agent. a disadvantage is that the attorney in fact under a dnr order may refuse to direct medical care in the manner the principal may have desired. a) ii and iii b) i and iv c) i, ii, and iv d) ii, iii, and iv
A do-not-resuscitate order, or DNR order, is a scientific order written with the aid of a doctor. It instructs health care companies no longer to do cardiopulmonary resuscitation (CPR) if a patient's breathing stops or if the patient's heart stops beating.
Can a DNR be revoked by way of household UK?However, only a physical, the patient, or the patient's healthcare agent can revoke a DNR. The solely occasion in which a family member can revoke a DNR is when that identical household member is also the patient's healthcare agent.
What are the advantages of do-not-resuscitate?The individuals viewed that DNR can limit struggling and the clinical care can be arranged as the sufferers wish. It additionally decreases the family's burden, not only in phrases of clinical care however additionally the psychological burden, and they did now not have to make the selection for the patient.
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sebastian was never aware of any racial discrimination happening in his workplace. however, a few months ago sebastian felt strongly that he was the victim of racial discrimination at work, and now he notices it happening to others in the office as well.
Sebastian was never kept informed of any racial prejudice taking place at his place of employment. Sebastian, however, had a strong belief that he had experienced racial discrimination on the job a few months prior.
What might racial bias be used to justify?The practice of racism (Word) Racial discrimination happens when someone is treated unfairly or is not given the same chances as others in the same scenario because of his race, country of birth, ethnic background, or skin tone.
What information do you have concerning racial prejudice?When people are treated unfairly because of his race or color, this is referred to as racial discrimination. Infractions of racial discrimination are prohibited by federal law from occurring in the workplace, and these instances can take many different forms, particularly in the workplace.
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after a structure has been built, altered, or repaired, what does a city building inspector issue to indicate that the structure has been inspected and found satisfactory?
once a building has been constructed. A certificate of occupancy can be issued by a city building inspector to show that the building has been examined and deemed to be satisfactory.
A certificate of occupancy is a legal document given by a local government organisation or building department that attests to a building's adherence to all relevant building standards and legislation and that it is in a fit state for habitation. An occupancy certificate is a document that attests to a building's compliance with national building rules and that it is fit for habitation. It is given out by a municipal corporation or a development authority, respectively. When a property is prepared for occupancy, an occupancy certificate is issued. This certificate certifies that the structure is furnished with amenities such as power, water, and sanitary facilities.
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A person or business that offers loans at extremely high interest rates Select one: a. Creditor b. Entrepreneur C. Bank d. Loan shark.
d. Loan shark. a person or entity that provides loans with exorbitant interest rates.
Why are interest rates so high?So, why are interest rates rising? The most straightforward argument is that rising inflation is the source of rising interest rates. The Federal Reserve raises interest rates in an effort to stifle inflation by curbing economic expansion. This trend is anticipated to last through the end of 2022 and into 2023.
How is interest rate calculated?The basic interest formula is as follows: Interest is equal to P, R, and T. P is the principal sum (the beginning balance). Interest rate, R (usually per year, expressed as a decimal).
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The responsibilities of the operations manager include
A. planning, organizing, staffing, procuring, and reviewing
B. forecasting, designing, planning, organizing, and controlling
C. forecasting, designing, operating, procuring, and reviewing
D. planning, organizing, staffing, leading, and controlling
The operations manager is in charge of planning, organizing, staffing, directing, and controlling is the operations manager's responsibilities include.
What are the seven most important functions of operational management?In an industrial enterprise, there are seven major functions of operation management: planning, scheduling, purchasing, controlling, quality control, and inventory control. In each of these areas, operations managers must make numerous decisions that affect the effectiveness of the organization. The basic role of operation management in the company is to transform inputs such as raw materials into finished goods and services (Dominguez and Machado, 2017; Fiorentino, 2018). Because of its transformational role, operation management is a critical component of the entire organisation. As a result, it is directly responsible for many company decisions and activities that lead to product design and delivery issues (Peinado et al., 2018). The design and management of operations have a significant impact on how much material resources are consumed to produce appropriate goods or provide a service to customers.
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the call centre manager in ursa major solar wants to provide agents with a case dashboard that can be drilled down by case origin, status and owner. what should an administrator add to the dashboard to fulfil the request?
Dates of creation, updates, case priority, and case ID are additional pertinent data that might be included to the dashboard.
What is a call centre?
The case dashboard can have filters added for case origin, status, and owner. Based on the chosen criteria, these filters may be used to dig down and see certain subgroups of cases. In order to help agents find and quickly access the pertinent cases, the administrator may also add columns to the dashboard that indicate details like the case's origin, status, and owner. Dates of creation, updates, case priority, and case ID are additional pertinent data that might be included to the dashboard.
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todrick company is a merchandiser that reported the following information based on 1,000 units sold: sales $ 210,000 beginning merchandise inventory $ 14,000 purchases $ 140,000 ending merchandise inventory $ 7,000 fixed selling expense ? fixed administrative expense $ 8,400 variable selling expense $ 10,500 variable administrative expense ? contribution margin $ 42,000 net operating income $ 12,600 required: prepare a contribution format income statement. prepare a traditional format income statement. calculate the selling price per unit. calculate the variable cost per unit. calculate the contribution margin per unit. which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in response to changes in unit sales?
Selling price per unit: $210,000 / 1,000 units = $210 per unit
Variable cost per unit: $140,000 (purchases) / 1,000 units = $140 per unit
Contribution margin per unit: $210 per unit - $140 per unit = $70 per unit
How net operating income will change in response to changes in unit sales?
Contribution Format Income Statement:
Sales: $210,000
Less: Variable costs: $140,000 (purchases) + $10,500 (variable selling expense) + $X (variable administrative expense) = $150,500 + $X
Contribution Margin: $210,000 - $150,500 - $X = $59,500 - $X
Less: Fixed costs: $8,400 (fixed administrative expense) + $Y (fixed selling expense) = $8,400 + $Y
Net Operating Income: $59,500 - $X - $8,400 - $Y = $51,100 - $X - $Y
Traditional Format Income Statement:
Sales: $210,000
Less: Cost of goods sold: $14,000 (beginning inventory) + $140,000 (purchases) - $7,000 (ending inventory) = $147,000
Gross profit: $210,000 - $147,000 = $63,000
Less: Operating expenses: $8,400 (fixed administrative expense) + $10,500 (variable selling expense) + $Y (fixed selling expense) = $18,900 + $Y
Net Operating Income: $63,000 - $18,900 - $Y = $44,100 - $Y
Calculations:
Selling price per unit: $210,000 / 1,000 units = $210 per unit
Variable cost per unit: $140,000 (purchases) / 1,000 units = $140 per unit
Contribution margin per unit: $210 per unit - $140 per unit = $70 per unit
This is because the contribution format separates fixed and variable costs, making it easier for managers to see how changes in unit sales will affect net operating income.
The traditional format income statement does not provide this level of detail and does not clearly show the relationship between changes in unit sales and net operating income.
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which one of the following will result from the spouse of a decedent making a qualified disclaimer of property? a) it results in a taxable gift of the property by the disclaimant. b) the property is probated in the disclaimant's estate. c) the spouse will have to report any income earned by the property prior to the disclaimer. d) the property is excluded from the disclaimant's gross estate.
Option D is correct. The property is excluded from the disclaimant's gross estate.
What is qualified disclaimer of property?A qualified disclaimer is a legal method by which an individual can renounce or refuse to accept an interest in property, usually inherited property, without incurring any tax liability for that property. The disclaimer must meet certain requirements set forth by the IRS, including that the disclaimer must be made within a certain time frame after the interest in the property is transferred, and the disclaimant cannot have accepted any benefits from the property before making the disclaimer. The effect of a qualified disclaimer is that the property is treated as if the disclaimant had never received it, and it passes directly to the next person in line as designated by the will or state law.
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derek has the opportunity to buy a money machine today. the money machine will pay derek $39,342.00 exactly 16.00 years from today. assuming that derek believes the appropriate discount rate is 8.00%, how much is he willing to pay for this money machine?
$11,272.779 is the value Derek is willing to pay for this money machine.
The data we have provided in the question,
Future value of machine = $39,342.00
Time, n = 16 years
Discount rate, r = 8.00% = 0.08
The amount Derek is willing to pay will be the present value of the machine.
we know,
Future value = Present value × (1 + r)ⁿ
On substituting the respective values, we get
$39,342.00 = Present value × (1 + 0.08 )¹⁶
$39,342.00 = Present value × 3.43
Present value = $39,342.00 ÷ 3.43
Present value = $11,272.779
Therefore, $11,272.779 is the value Derek is willing to pay for this money machine.
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The lending of deposits to others causes the deposit to be spent and income to increase.
What is this phenomena known as?
A. Multiple Deposit Expansion Multiplier
B. Circular Flow of Deposits
C. Exponential Deposit Multiplier
Answer:
the answer is aaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
moore's law predicts, that every 18 months, the power of microprocessor technology decreases, while its cost of production increases. group of answer choices true false
Moore's law predicts, that every 18 months, the power of microprocessor technology decreases, while its cost of production increases. False.
The number of transistors on a microchip doubles every two years, according to Moore's Law. We may expect an increase in the speed and capability of our computers every two years and still pay less for them, according to the law. Another aspect of Moore's Law states that this expansion is exponential. The law is attributed to Gordon Moore, a co-founder and former CEO of Intel.
More than 50 years later, Moore's Law continues to benefit us in a number of ways.
ComputingElectronicsThe production of energy, health care, education, and transportation are just a few of the industries that have advanced as a result of the expansion of computing power. Additionally, smaller and faster computers improve these fields as well.
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list the risk for the entrepreneur? how do these risks relate to jim? using your knowledge about bicycles and the people that ride them, do you think there is a market for an automatic derailleur for a 15-speed bike? explain why or why not.
Entrepreneurs face several risks, including financial risks (e.g., investing money in a venture that doesn't succeed), market risks (e.g., a product or service not being in demand), and operational risks (e.g., supply chain disruptions).
Without knowing more about Jim and his specific business venture, it's difficult to say how these risks might relate to him.
As for the market for an automatic derailleur for a 15-speed bike, it's possible that there is a market for such a product, as some cyclists may find it more convenient or easier to use compared to a manual derailleur. However, it's important to note that the cycling market is quite competitive and there may already be similar products available. In addition, the cost of developing and producing such a product could be high, which could make it difficult for a small business to enter the market. It's also significant to note that some cyclists may prefer the control and precision of a manual derailleur. So, more research and analysis would be needed to figure out where this product might sell.
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Over Armour Inc. sold 5 shirts that cost $6 each to its customer for $10 each. Total Revenues equal $__ and the expense equals $__.
If Over Armour Inc. sold 5 shirts that cost $6 each to its customer for $10 each then the total revenues equals $50 and the expense equals $30.
Explanation:
Total Revenue =5*$10= $50
Total Expenses =5*$6= $30
What is expense ?Expense is an outflow of money, or the cost incurred in the process of earning revenue. Expenses are typically categorized as operating expenses, which include costs associated with the day-to-day running of a business, or non-operating expenses, which are one-time costs such as capital expenditures.
The total revenues equal the number of shirts sold multiplied by the price charged for each shirt, which is 5 shirts multiplied by $10 each, which equals $50. The expense equals the number of shirts sold multiplied by the cost of each shirt, which is 5 shirts multiplied by $6 each, which equals $30.
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the existence of positive economic profits induces firms to: group of answer choices enter an industry, which shifts the market supply curve to the left and decreases market price. exit an industry, which shifts the market supply curve to the right and decreases market price. enter an industry, which shifts the market supply curve to the right and decreases market price. enter an industry, which shifts the market supply curve to the right and increases market price.
The existence of positive economic profits induces firms to enter an industry, which shifts the market supply curve to the right and decreases market price.
Option C is correct.
What does "market supply" entail?The total quantity of an item that producers are willing and able to sell at various prices over a specific time period, such as a month, is known as the market supply. A market supply curve is the horizontal sum of all a company's supply curves in a given industry.
Why is a supply curve in the market important?Understanding the law of supply necessitates the use of supply curves. They illustrate graphically how producers will increase the quantity of a good or service as prices rise.
What is a supply curve in the market?The relationship between the rate and the product to be supplied is depicted by the supply curve. On the X and Y axes of a graph, the price and quantity data represent the supplier's willingness to sell the quantity of their goods or services at various price levels.
Question is incomplete:
the existence of positive economic profits induces firms to: group of answer choices
A. enter an industry, which shifts the market supply curve to the left and decreases market price.
B. exit an industry, which shifts the market supply curve to the right and decreases market price.
C. enter an industry, which shifts the market supply curve to the right and decreases market price.
D. enter an industry, which shifts the market supply curve to the right and increases market price.
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what would be the accounts receivable balance reported on the december 31, year 1 balance sheet for luxburg company?
The accounts receivable balance reported on the December 31, Year 1 balance sheet for Luxburg Company would depend on the amount of outstanding invoices the company has from its customers at the end of the year.
Accounts receivable is the amount of money that customers owe the company for goods or services that have been provided but not yet paid for. This amount is recorded on the balance sheet and can be calculated by taking the total amount of invoices that have been issued during the year and subtracting any payments that have been received.
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