What method is used to calculate the monthly finance charge.
Answers
The method that is used to calculate the monthly finance charge is the “average daily balance method.
This method of calculating the finance charge is based on the average daily balance of the account over the entire billing cycle, including new purchases and payments. For each day of the billing cycle, the balance is multiplied by the daily periodic rate (APR/365) to get the daily interest charge.
The sum of the daily interest charges is then divided by the number of days in the billing cycle to get the average daily balance. The finance charge is then calculated by multiplying the average daily balance by the monthly periodic rate (APR/12). This results in the main answer that the “average daily balance method” is used to calculate the monthly finance charge.
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Related Questions
Please give the answer to question one
Answers
Answer:
A
Explanation:
A is the answer to the question
Bethany is doing a research project that involves several numbered lists and calculations. She wants to use technology to make the organization less tedious and more effective. What type of software program should she use? HURRY TIMED TEST
A. Word processor software
B. Presentation software
C. software
D. Spreadsheet software
Answers
Answer:
D
Explanation:
Bc u can put lists in there and u can do the math in there too
Bethany is doing a research project that involves several numbered lists and calculations. She shall used Spreadsheet software. Option D is correct.
What is spreadsheet software?A spreadsheet is a piece of application software that can store, display, and edit data that has been organized into rows and columns. One of the most used tools for personal computers is the spreadsheet. In general, a spreadsheet is made to store numerical data and short text strings.
Furthermore the spread sheet consist of formula functions & mathematical expressions & operations, tabular representation & graphical data presentation can also be well performed with the use of this application software.
Therefore spreadsheet software are best resource for making list and long calculations.
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Part-time employees are less likely to receive paid leave benefits than full-time employees.
true or false
Answers
Answer:
True
Explanation:
just trust me mate
Which is not an expense account?
Repairs
Advertising
Rent
Interest
Accrued
Answers
The answer option which is not an example of an expense account is: E. Accrued.
What is an expense account?An expense account can be defined as a type of account that include an amount of money (funds) that are paid to an employee by an employer of labor, so as to enable the employee spend the fund on things related to his or her job.
In Business management, some examples of an expense account include the following:
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Which of the following statements accurately describes short term financing options?
a.)
The need for short term financing indicates that a business is in financial distress.
b.)
The lender usually charges the borrower a discount rate of interest.
c.)
The short term financing options are considered a type of secured financing.
d.)
The short term financing options must be repaid within a one year period.
Answers
The statement which describes short term financing options is given by
Option d. The short term financing options must be repaid within a one-year period.
Short-term financing refers to financial arrangements that are typically intended to be repaid within a short period.
Usually within one year or less.
It is used to meet immediate funding needs or to finance temporary working capital requirements.
Examples of short-term financing options include,
Bank loans, lines of credit, trade credit, commercial paper, and accounts receivable financing.
Review the other options to clarify,
The need for short-term financing does not necessarily indicate that a business is in financial distress.
Businesses often require short-term financing for various reasons, including managing cash flow fluctuations.
Funding seasonal operations, taking advantage of growth opportunities, or supporting ongoing working capital needs.
The interest rate charged by the lender for short-term financing can vary.
And may be based on factors such as the borrower's creditworthiness, prevailing market rates, and specific terms of financing arrangement.
While a discount rate of interest may be charged in certain situations.
It is not a characteristic that applies universally to all short-term financing options.
Short-term financing options can be either secured or unsecured.
Depending on the specific arrangement and the preferences of the lender.
Some short-term financing options may require collateral as security.
While others may be unsecured, relying primarily on the borrower's creditworthiness and financial stability.
Therefore, statement accurately describes short-term financing options is,
options d. short-term financing options must be repaid within a one-year period.
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Problem 1-3A Prepare financial statements (LO1-3) Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year o company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,300 Service revenue 24,000 Cost of goods sold (food expense) 3,400 Buildings 1,600 Supplies 4,500 Salaries payable $62,700 52,400 30,000 2,400 900 In addition, the company had common stock of $30,000 at the beginning of the year and issued an additio The company also had retained earnings of $16,200 at the beginning of the year. Required: 1. Prepare the income statement for Longhorn Corporation. 2. Prepare the statement of stockholders' equity for Longhorn Corporation. 3. Prepare the balance sheet for Longhorn Corporation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the income statement for Longhorn Corporation. LONGHORN CORPORATION Income Statement For the year ended Dec. 31, 2021 Expenses: Total expenses 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity for Longhorn Corporation. LONGHORN CORPORATION Statement of Stockholders' Equity For the year ended Dec. 31, 2021 Common Stock Retained Earnings Total Stockholders' Equity Beginning balance Ending balance < Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the balance sheet for Longhorn Corporation. LONGHORN CORPORATION Balance Sheet Dec 31, 2021 Assets Liabilities Total liabilities 0 Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 0 Total assets $ 0 $ 0 Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,300 Service revenue 24,000 Cost of goods sold (food expense) 3,400 Buildings 1,600 Supplies 4,500 salaries payable $62,700 52,400 30,000 2,400 900 In addition, the company had common stock of $30,000 at the beginning of the year and issued an additional $3,000 during the year. The company also had retained earnings of $16,200 at the beginning of the year. Required: 1. Prepare the income statement for Longhorn Corporation 2. Prepare the statement of stockholders' equity for Longhorn Corporation. 3. Prepare the balance sheet for Longhorn Corporation
Answers
The financial statements (LO1-3) Longhorn Corporation includes:
Net Income for Longhorn Corporation: $(34,200)
Total Stockholders' Equity: $15,000
Total liabilities and stockholders' equity: $107,700
Income statement for Longhorn Corporation:
Service revenue $24,000
Cost of goods sold (food expense) (3,400)
Delivery expense (2,400)
Salaries expense (52,400)
Total expenses (58,200)
Net Income $(34,200)
The income statement shows the company's revenues and expenses over a specific period, resulting in net income. In this case, Longhorn Corporation's total revenues are $24,000, and the total expenses are $58,200. Subtracting expenses from revenues results in a net loss of $34,200.
Statement of stockholders' equity for Longhorn Corporation:
Common Stock
Beginning balance $30,000
Issuance of common stock 3,000
Ending balance $33,000
Retained Earnings
Beginning balance $16,200
Net loss (34,200)
Ending balance $(18,000)
Total Stockholders' Equity $15,000
The statement of stockholders' equity summarizes the changes in a company's common stock and retained earnings over a specific period, resulting in total stockholders' equity. In this case, Longhorn Corporation's common stock increased by $3,000 due to the issuance of additional common stock, while retained earnings decreased by $34,200 due to the net loss. The total stockholders' equity is $15,000.
Balance sheet for Longhorn Corporation:
Assets
Cash $1,300
Equipment $52,400
Buildings $1,600
Supplies $4,500
Total assets $59,800
Liabilities
Accounts payable $30,000
Salaries payable $62,700
Total liabilities $92,700
Stockholders' Equity
Common Stock $33,000
Retained Earnings $(18,000)
Total stockholders' equity $15,000
Total liabilities and stockholders' equity $107,700
The balance sheet shows a company's assets, liabilities, and stockholders' equity at a specific point in time. In this case, Longhorn Corporation's total assets are $59,800, and the total liabilities are $92,700. The total stockholders' equity is $15,000. The sum of total liabilities and stockholders' equity is equal to the total assets, which is $107,700.
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Discuss reasons why a business might choose to sell direct to customers through a website with e-commerce facilities, as opposed to through fixed (physical ‘bricks and mortar') premises.
Answers
Answer:
Businesses might prefer selling direct to customers through a website with e-commerce facilities because:
1. For covering a wider distance, distance is not a barrier.
2. For flexibility for customers, as some e-commerce even accepts cryptocurrency payments.
3. For product and price comparison.
4. For saving cost incurred from having fixed (physical ‘bricks and mortar') premises.
5. For saving the cost of paying workers.
6. For maintaining social distancing protocol given by the government especially during the pandemic. This doesn't put anyone at risk.
Explanation:
The question above asks for justifications why a business might choose to sell direct to customers through a website with e-commerce facilities rather than selling to customers through fixed (physical ‘bricks and mortar') premises.
First, selling to customers through a website with e-commerce facilities involve virtual transactions with customers paying for goods and services they are interested in over the internet. With this, customers can pay with their bank cards through e-commerce websites. While selling through fixed (physical ‘bricks and mortar') premises involve direct contact in-person with the customer and possibly payment is made in cash or through any other accepted methods.
The area of accounting that focuses on reporting information to internal users is called managerial accounting. True or False?
Answers
True. Managerial accounting is a branch of accounting that focuses on providing information to internal users, such as managers, executives, and other decision-makers within an organization.
This information can be used to help managers make decisions about production, budgeting, and other aspects of running the business. Managerial accounting differs from financial accounting, which is focused on providing information to external users such as investors, creditors, and regulators. Financial accounting is primarily concerned with the preparation of financial statements and other reports that are used to assess the financial performance and position of a company. Managerial accounting provides information that is not reported in the financial statements, such as cost-volume-profit analysis, budgeting, standard costing, and variances. This information is used to support internal decision making and to provide insight into how to improve operations, such as cost management, inventory management, and pricing decisions.
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1._____________is the difference between earned income and costs. 2. An organization that produces or distributes a good or service for profit is called a __________
Answers
Answer:
1. Profit
2. Business
Explanation:
Profit may be defined as the income which is distributed to the owner in the production process of a profitable market. In other words it is the extra revenue generated by the company that is in excess of the money spend as expenses. It is the difference between the earned income and the costs.
Business is a regular work or occupation or trade of a person. It refers to an organized efforts as well as the activities of any individual to produce the goods and services and sell them for a profit.
What are two disadvantages of putting your money into savings accounts, compared to investing?.
Answers
The two disadvantages of putting money into savings accounts, instead of investing, include low rates of interest, and the effect of inflation.
What is a savings account?A savings account is described as an account kept with a bank that provides interest on the money deposited in the account. It is important to mention that savings account provides low-interest rates. However, the money deposited in the savings account remains safe and reliable. Hence, it is often considered a great option to deposit money for fulfilling short-term needs.
The two big disadvantages of putting money into savings account in the effect of inflation. It is important to mention that banks do not pay higher interest rates, and this results in the reduced value of the money kept deposited in the savings account. Secondly, the interest rates are very low compared to the other forms of investment. This low rate of interest does not provide significant returns to the deposited money.
It can be concluded that the two disadvantages of putting money into savings accounts, instead of investing, include low rates of interest and the effect of inflation.
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• Bank #1 • Bank name • Bank website address • Interest rate for CD, 6 months D • Interest rate for CD, 12 months . Interest rate for savings account . how do I do this?
Answers
Bank #1
Bank name: ABC Bank
Bank website address: www.abcbank.com
Interest rate for CD, 6 months: 1.5%
Interest rate for CD, 12 months: 2.5%
Interest rate for savings account: 0.5%
You can use this format to organize and present information about different banks and their interest rates for different types of accounts. Just be sure to provide accurate and up-to-date information, and to double-check any details before sharing them.
MGT 300 Homework 5 1. Discuss an example about how our focal company manages internationally. Provide URL(s) for all source(s). How does the cheese cake factory manage internationally?|
Answers
The Cheesecake Factory is a multinational restaurant chain that manages internationally through various strategies.
One example is their approach to international expansion, where they partner with local franchisees to open new locations in different countries. This allows them to benefit from the franchisee's local expertise while maintaining control over the brand and menu. Additionally, The Cheesecake Factory tailors its menu to suit the local tastes and preferences of each international market. For instance, in the Middle East, they offer halal-certified dishes to cater to the dietary requirements of the region. This adaptation helps the company attract and retain customers in diverse cultural contexts.Furthermore, The Cheesecake Factory emphasizes consistent quality control across all its international locations. This is achieved through regular training programs for employees, ensuring that the same high standards are upheld regardless of the country.
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What is the expected return for a security if the risk-free rate is 5 percent, the expected return on the market is 9 percent, and the security's beta is 1.5?
Answers
The expected return for the security, calculated using the CAPM formula with the given values, is 11%.
The expected return for security can be calculated using the capital asset pricing model (CAPM). The CAPM formula is:
Expected Return = Risk-Free Rate + Beta * (Expected Market Return - Risk-Free Rate)
Given the information provided:
Risk-Free Rate = 5%
Expected Market Return = 9%
Beta = 1.5
Plugging these values into the formula:
Expected Return = 0.05 + 1.5 * (0.09 - 0.05)
Expected Return = 0.05 + 1.5 * 0.04
Expected Return = 0.05 + 0.06
Expected Return = 0.11 or 11%
Therefore, the expected return for the security is 11%.
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You own a mobile Taco Truck. You have a short list of competitors. Which TWO would be considered your Indirect Competition?
Select 2 correct answer(s)
A.) Mobile Fish and Chips Truck
B.) A local Taco Bell franchise
C.) Walk-up Mexican Food stand
D.) A local Burger King franchise
Answers
The two options that could be considered indirect competition for a mobile Taco Truck are (A) Mobile Fish and Chips Truck (C) Walk-up Mexican Food stand
Indirect competition refers to businesses that offer different products or services but still target the same customer base or satisfy similar customer needs. In this case, the Taco Truck, Fish and Chips Truck, and Walk-up Mexican Food stand all fall under the category of mobile food vendors and offer food options to customers.
The Mobile Fish and Chips Truck is an example of indirect competition because it provides a different type of cuisine compared to the Taco Truck. While the Taco Truck focuses on Mexican food, the Fish and Chips Truck specializes in seafood. However, both food trucks target customers who are seeking quick and convenient meals on the go, making them indirect competitors.
Similarly, the Walk-up Mexican Food stand is considered indirect competition because it also offers Mexican food but operates in a different format. Unlike the mobile food trucks, the stand is stationary and doesn't have the mobility aspect. However, it caters to customers looking for Mexican cuisine and offers a similar dining experience to the Taco Truck.
On the other hand, option B (local Taco Bell franchise) and option D (local Burger King franchise) would be considered direct competitors as they both operate in the fast food industry and offer similar types of food as the Taco Truck. These franchises have established brick-and-mortar locations and compete directly with the Taco Truck for customers seeking fast food options.
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Dominic earned $1,500 this year, and his employer withheld $200 of federal income tax from his salary. assuming that dominic is single, 30 years old, and will have zero tax liability this year, he:____.
Answers
Dominic earned $1,500 this year, and his employer withheld $200 of federal income tax from his salary. Assuming that Dominic will have zero tax liability this year, he is not required to file a tax return but should file a return anyway.
The Internal Revenue Service (IRS) imposes the federal income tax in the United States on the annual profits of people, businesses, trusts, and other legal entities. All sources of income that contribute to a taxpayer's taxable income, such as wages, salaries, commissions, bonuses, tips, investment income, and certain categories of unearned income, are subject to federal income taxes.
Federal income tax rates range from 10% to 37%, and they become effective at a certain level of income. Tax brackets are the ranges of income that the rates apply to. Each tax bracket has a different rate of taxation that applies to certain types of income.
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does unemployment affect demand?
Answers
Yes it does. Unemployment is when a person isn't currently hired at a work pleace. If people are unemployed they are making no income so less people are in need of products so it lowers the demand.
Bond's gym should use to help solve the problem. if the owner of bond's gym raises his prices, the demand for membership will most likely . if the owner of bond's gym decides to raise his prices, he could make money per monthly membership.
Answers
If the owner of bond's gym decides to raise his prices , the quantity demanded for membership will most likely decrease.
Bond's Gym should use negative incentives to assist in resolving the issue. If Bond's Gym's owner raises his prices, the number of people who want to join will most likely decrease. When demand falls, the equilibrium price falls, as does the quantity supplied.
If supply increases while all other factors remain constant, the equilibrium price falls and the quantity demanded rises. Buyers' spending on a given product or commodity is limited because they have limited resources, so higher prices reduce the quantity demanded. In contrast, as the product becomes more affordable, demand rises.
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Answer:
negative incentives, decrease, more
Explanation:
the number of federal government employees has grown more rapidly that was the case in many state and local governments. if this trend continues, how will it affect the field of public administration? if growth declines, what are the implications for public employment?
Answers
The number of federal government employees has grown more rapidly that was the case in many state and local governments.
If this trend of rapid growth of federal employees continues, the field of public administration will undergo a radical transformation.
It will lead to an increase in the number of federal employees working in the public administration sector. This will cause an increase in the size of the federal government, thereby reducing the size of the state and local government.
It will affect the field of public administration as it will shift the focus of public administration towards the federal government. It will also increase the demand for jobs in the public sector, which will affect the overall employment rate in the country.
If growth declines, it will have implications for public employment. It will lead to a decrease in the number of federal employees working in the public administration sector.
It will result in a decrease in the size of the federal government, thereby increasing the size of the state and local government. This will have implications for the overall employment rate in the country.
It will lead to a decrease in the demand for jobs in the public sector, which will affect the overall employment rate in the country. It will also shift the focus of public administration towards the state and local governments.
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zone of tolerance refers to the customers' expectations ranging from a desired service to a threshold level of merely adequate service. true false
Answers
The given statement "zone of tolerance refers to the customers' expectations ranging from a desired service to a threshold level of merely adequate service" is true because zone of Tolerance is a term used in customer service that refers to the range of service quality that a customer is willing to accept.
This range includes the minimum acceptable service level, which is the point at which the customer would still consider doing business with the organization, and the desired level of service, which is the level that would exceed the customer's expectations.
Customers have different levels of expectations, and their zone of tolerance can vary based on factors such as their previous experience with the organization, the service provider's reputation, and the industry's standards. Understanding customers' zone of tolerance is crucial for service providers because it helps them determine the service level that would meet customers' expectations and enhance their satisfaction.
Organizations that can deliver services that fall within the customers' zone of tolerance will likely have loyal customers and generate positive word-of-mouth. Therefore, organizations must pay attention to customers' needs, preferences, and expectations to provide exceptional service that exceeds the customers' zone of tolerance.
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Which of the following would most likely negatively affect a person's net worth?
A. A $25,000 salary
B. A $500 savings bond
C. A $500,000 mortgage
D. A $5,000 money market account
Answers
Answer: c
Explanation:
$500,000 mortgage would most likely negatively affect a person's net worth. Thus, option (c) a $500,000 mortgage is correct.
What is net worth?
Totally unrelated to income is what is meant by the phrase "net worth." Liabilities are subtracted from assets to arrive at the person's own net worth. The wealthy possess possessions including real estate, investments, jewels, memorabilia, cars, and so on. A period of emergencies is covered by the net worth.
A person's personal net worth is significantly impacted by a $500,000 mortgage. The amount of money saved by the individual who wants to spend it is their net worth. The net worth mostly consists of investments and personal savings. Money accumulates to form the net worth.
The mortgages are highly impact on net worth. The net worth are personal liabilities minus to personal asset.
Therefore, option (c) a $500,000 mortgage is correct.
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Why is gum so cheap?
Answers
Answer:
its an expendable resource
Explanation:
In zombia, it takes 10 resources to produce 1 ton of cocoa and 13. 5 resources to produce 1 ton of rice. In south curmudgea, it takes 40 resources to produce 1 ton of cocoa and 20 resources to produce 1 ton of rice. Zombia has a comparative advantage over south curmedgea in.
Answers
The theory of comparative cost advantage is based on many assumptions and one of those assumptions is that "the production of commodities is done under the law of constant costs or returns".
It is presumable that constant returns to scale will make computations easier and produce useful generalizations that may be applied to the economy. Diminishing returns to scale is a more sensible assumption that is not made in the theory of comparative cost advantage, meaning that when inputs are employed more and more, their marginal product or contribution to production decreases. Furthermore, according to the comparative cost advantage theory, once a nation has determined its comparative advantage, all of its resources are put toward producing that good; as a result, the production process should reflect diminishing returns to scale rather than assuming constant returns to scale.
Any item that is readily available to us in our environment, is commercially viable, has access to modern technology, is culturally sustainable, and helps us to meet our requirements and fulfill our wants is referred to as a resource. Based on their availability, resources can be roughly classified into categories that are renewable and non-renewable.
They can also be divided into real and potential categories based on their level of development and use, biotic and abiotic categories based on their origin, and localized and omnipresent classifications depending on their dispersal (private, community-owned, national, and international resources). An item might develop into a resource over time as technology develops. Utilizing resources effectively can lead to increased income, efficient system operation, or improved well-being.
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how a particular cost behaves (fixed versus variable) is dependent on whether the cost is classified as direct or indirect.
Answers
While variable costs change according on the volume of production output, indirect costs are the expenses that could be directly linked to a product.
Direct costs are frequently variable expenses, meaning that they change according to the amount of production, i.e., anticipated product sales and demand. On either hand, as indirect expenses frequently are fixed costs, the expense level is unrelated to the level of production. Rental fees, taxes, and insurance are some instances of fixed costs. Materials, utilities, office equipment leasing, desktop computers, and cell phones are examples of indirect costs. Indirect costs can either be fixed or variable, much like direct expenses. Rent costs are an example of a fixed indirect cost, while power costs are an example of a variable indirect cost.
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Two profit-maximizing firms - Firm A and Firm B, have identical marginal cost curves and face identical demand. However, Firm A has a higher fixed cost than Firm B. What will be true about the output produced by the two firms?
Answers
Answer:
An apple, potato, and onion all taste the same if you eat them with your nose plugged
Explanation:
which of the following factors help determine a manager's span of control?
Answers
The factors that help determine a manager's span of control, including a wider span of control, can vary depending on various organizational and managerial considerations. Factors that help determine a manager's span of control are as follows:
Explanation: The concept of span of control is a fundamental principle of management. A manager's span of control is determined by several factors. The number of employees he or she supervises and the scope of their responsibilities are two factors that must be considered.A manager's span of control is influenced by the nature of the work performed by subordinates. Work that is less complex and requires fewer specific skills may be delegated to a larger number of employees.The manager's experience and expertise are also critical factors in determining his or her span of control. A more seasoned manager with excellent leadership and communication skills may be able to supervise a larger number of employees more effectively than a less experienced manager
In management, span of control refers to the number of subordinates that can be managed effectively by a superior. A manager's span of control is determined by the number of employees he or she supervises, the scope of their responsibilities, the complexity of their tasks, the manager's experience and expertise, and the manager's leadership style. The number of subordinates that can be effectively supervised by a manager varies depending on the nature of the work performed by the subordinates, the experience of the manager, and the manager's leadership style. In general, a manager's span of control is larger when the work performed by subordinates is less complex and requires fewer specific skills. A manager's span of control is also larger when the manager has more experience and expertise in managing people. Managers who have strong leadership skills and can communicate effectively with subordinates are better able to manage a larger number of employees.
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Highbridge Community Life Center was a community hub and resource for the Bronx community that was founded in 1979 by two Catholic nuns. Brother Ed Phalen served as the Executive Director of the center for more than two decades. When he started considering retirement, he wondered what would happen to the organization and its leadership after he left. In order to plan for his eventual departure, Brother Phalen and the board of directors began the process of to identify a replacement for him.
Answers
The correct question is:
Highbridge Community Life Center was a community hub and resource for the Bronx community that was founded in 1979 by two Catholic nuns. Brother Ed Phalen served as the Executive Director of the center for more than two decades. When he started considering retirement, he wondered what would happen to the organization and its leadership after he left. In order to plan for his eventual departure, Brother Phalen and the board of directors began the process of _____________ to identify a replacement for him.
Answer:
Succession planning
Explanation:
Succession planning is the process by which new leaders in an organisation are identified and developed to adequately fill in the role of departing leaders.
This process is important as it prepares experienced staff to take up responsibility in cases of resignation, retirement, or death of a leader.
In the given instance Brother Ed Phalen served as the Executive Director of the center for more than two decades.
Considering his retirement he would need to get someone to take over leadership role from him.
So he and the the board of directors will need to begin a succession plan to identify his replacement
The government is concerned that the high inflation rate is threatening the sustainability of recent economic growth. What is the best way for the government to reduce the inflation rate?
Answers
Answer:
both raising taxes and reducing government spending, reduce the amount of money in the economy and reduce inflationary pressure on prices
Explanation:
Inflation is a situation where prices of goods and services become high. It can be caused by increased sand where consumers are willing to spend more on goods, or by an increase in production cost forcing suppliers to increase price.
The government can take various measures to control price increase during an inflation.
If money supply is reduced by less government spending and increased tax, there will be less tendency for price to increase.
Consumers will not be able to buy at the high price so suppliers are forced to reduce their prices
Which of the following is not part of the balance of payments
Answers
Option (d), Each is taken into account in the payment balance. The balance of payments is composed of three components: the current account, capital account, and finance account.
What is excluded from the balance of payments?The current account of the balance of payments does not include investments. The current account of payment balance is calculated by averaging the balance of trade, netfactor income, and net transfer payment. Current account for the BOP is either positive, indicating a surplus, or negative, indicating a deficit.
Economic surplus is one of the balance of payments' components, right?The trade of goods and services affects the country's balance of payments. If a country is able to export more goods and services than it can import, it is said to be in a surplus.
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DS Unlimited has the following transactions during August.
August 6
Purchases 50 handheld game devices on account from GameGirl, Inc., for $ 100 each, terms 1/10, n/60.
August 7
Pays $300 to Sure Shipping for freight charges associated with the August 6 purchase.
August 10
Returns to GameGirl five game devices that were defective.
August 14
Pays the full amount due to GameGirl.
August 23
Sells 30 game devices purchased on August 6 for $120 each to customers on account. The total cost of the 30 game devices sold is $3,170.
Required:
Record the transactions of DS Unlimited, assuming the company uses a perpetual inventory system.
Answers
Answer:
See the journal entries below.
Explanation:
The journal entry will look as follows:
Date Account and explanation Debit ($) Credit ($)
Aug 6 Inventory (50 * $100) 5,000
Account payable 5,000
(To record inventory purchased on account.)
Aug 7 Inventory 300
Cash 300
(To record payment of freight charges associated with the August 6 purchase.)
Aug 10 Account payable (5 * $100) 500
Inventory 500
(To record the returns of defective five game devices to GameGirl.)
Aug 14 Account payable (w.1) 4,500
Cash (balancing figure) 4,455
Inventory (w.2) 45
(To record the payment of the full amount due to GameGirl.)
Aug 23 Account receivable (30 * $120) 3,600
Sales revenue 3,600
Cost of goods sold 3,170
Inventory 3170
(To record the Sales and cost of 30 game devices purchased on August 6.)
Workings:
w.1. Account payable = Purchases on account on August 6 - Defective inventory returned on August 10 = $5,000 - $500 = $4,500
w.2. Inventory = Discount received on account payable for paying within 10 days = w.1 * 1% = $4,500 * 1% =$45
Explain the basic concept of micro?
Answers
The basic concept of microeconomics are : Production theory, Price theory and Incentives.
What is microeconomics?
Microeconomics is the study of individuals, households and firms' behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues.
Basic concept of micro are :
Production theory: This is the study of production—or the process of converting inputs into outputs. Price theory: Utility and production theory interact to produce the theory of supply and demand, which determine prices in a competitive market.Incentives and behaviors. How people, as individuals or in firms, react to the situations with which they are confronted.Learn more about basic concept of micro here : https://brainly.com/question/1689139