York Company Limited began selling thermometers and oximeters during the pandemic. They completed the following merchandising transactions in the month of Oct 2020 using a perpetual inventory system.
Oct 1 2
9
10
12
15
17
19
24
27
30
Required:
Journalize
Purchased 90 items at the cost of $80 each on account, terms 2/10, n/30
Sold 55 merchandise for $140 each on account, terms 1/10, n/30. The cost of the merchandise sold was $4,400.
Received payment in full, less discounts, from customers billed on Oct 2.
Paid suppliers in full, less discount, for purchases on Oct 1.
Purchased merchandise for cash $2,400.
Received refund for poor quality merchandise from supplier on cash purchase $480.
Purchased merchandise on account for $1,700, FOB shipping point, terms 2/10, n/30.
Paid freight of $180 for Oct 17 purchase.
Sold merchandise for cash $5,600. The merchandise sold had a cost of $3,200
Paid in full for merchandise purchased on Oct 17, less discount.
Made refunds to cash customers for defective merchandise $700. The returned merchandise cost $400.
the transactions (omit explanations).
Answers
The transactions of York Company in October are recorded as follows:
Journal Entries:
Oct 1 Debit Inventory $7,200
Credit Accounts Payable $7,200
terms 2/10, n/30
Oct 2 Debit Accounts Receivable $7,700
Credit Sales Revenue $7,700
terms 1/10, n/30
Debit Cost of goods sold $4,400
Credit Inventory $4,400
Oct 9 Debit Cash $7,623
Debit Cash Discounts $77
Credit Accounts Receivable $7,700
Oct 10 Debit Accounts Payable $7,200
Credit Cash $7,056
Credit Cash Discounts $144
Oct 12 Debit Inventory $2,400
Credit Cash $2,400
Oct 15 Debit Cash $480
Credit Inventory $480
Oct 17 Debit Inventory $1,700
Credit Accounts Payable $1,700
FOB shipping point, terms 2/10, n/30
Oct 19 Debit Freight-in Expense $180
Credit Cash $180
Oct 24 Debit Cash $5,600
Credit Sales Revenue $5,600
Debit Cost of goods sold $3,200
Credit Inventory $3,200
Oct 27 Debit Accounts Payable $1,700
Credit Cash $1,666
Credit Cash Discounts $34
Oct 30 Debit Sales Refunds $700
Credit Cash $700
Debit Inventory $400
Credit Cost of goods sold $400
Data Analysis:
Oct 1 Inventory $7,200 Accounts Payable $7,200 terms 2/10, n/30
Oct 2 Accounts Receivable $7,700 Sales Revenue $7,700 terms 1/10, n/30
Cost of goods sold $4,400 Inventory $4,400
Oct 9 Cash $7,623 Cash Discounts $77 Accounts Receivable $7,700
Oct 10 Accounts Payable $7,200 Cash $7,056 Cash Discounts $144
Oct 12 Inventory $2,400 Cash $2,400
Oct 15 Cash $480 Inventory $480
Oct 17 Inventory $1,700 Accounts Payable $1,700 FOB shipping point, terms 2/10, n/30
Oct 19 Freight-in Expense $180 Cash $180
Oct 24 Cash $5,600 Sales Revenue $5,600
Cost of goods sold $3,200 Inventory $3,200
Oct 27 Accounts Payable $1,700 Cash $1,666 Cash Discounts $34
Oct 30 Sales Refunds $700 Cash $700
Inventory $400 Cost of goods sold $400
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Related Questions
What will happen in the market for wine if the price of cheese increases (wine and cheese are complements)?
Answers
If wine and cheese are complement goods, when the price of cheese increases, the demand for wine would decrease.
What are complement goods?Complement goods are goods that are consumed together. An example of complement goods are bread and jam.
According to economic theory, there is an inverse relationship between price and the quantity demanded. When the price of one of the complement good increases, it would become more expensive to consume the good. Thus, there would be a decrease in demand for that good. As a result of the decrease in quantity demanded, there would b a decrease in demand of the other complement good.
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It Isn't necessary to consider convenlence Issues when selecting a bank.
O True
O False
Answers
what is the definition of REO
Answers
Answer:
Real estate owned
Explanation:
It is property owned by a lender, such as a bank, that has not been successfully sold at a foreclosure auction.
Answer:
REO stands for real estate owned
Explanation:
Real estate owned, a property owned by a lender because it failed to sell in a foreclosure auction after the borrower defaulted on their mortgage.
Cosmogena, a cosmetics start-up, wants to hire five female marketing executives. For these openings, the management prefers candidates who are outgoing, sociable, and upbeat. Which of the big five personality traits is Cosmogena seeking?
Answers
Answer:
why did he have to stop his new style
___________ is a field that promotes a business or a service, helping to build that brand and bring new customers
Answers
Answer:
Branding.
Explanation:
Branding is a field that promotes a business or a service. Branding helps business to give voice to their business. It is through branding that customers recognizes your business.
It is branding that sets your company apart from your competitors. Through branding, the business is able to reflect its values, qualities, strengths, and characteristic.
Therefore, the correct answer is branding.
Type the correct answer in the box. Spell all words correctly.
Which business model is used by some of the software development companies that create apps for smart phones?
Some software companies that develop apps for smart phones make use of the BLANK
business model to attract and retain customers.
Answers
Answer:
freemium
Explanation:
Some software companies that develop apps for smartphones make use of the Freemium business model to attract and retain customers.
What is business?An economic activity that involves the exchange of goods and services with the help of buying and selling with the objective to gain some profit is called Business.
A business model refers to a strategy to seek growth in business and to retain customers by generating high levels of customer satisfaction for them and helps to achieve loyalty and cretes goodwill in the market which helps in strengthening the position of the business.
Freemium is a business model used by software companies as it provides an advanced strategy that helps businesses to attract and retain customers by providing them with value-added services.
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Which type of credit is used to lease a building?
Answers
Answer:
service credit
Explanation:
How can marketers take advantage of laughable disclaimers in their advertising?
Answers
Answer:
a
Explanation:
Solstice Company determines on October 1 that it cannot collect $60,000 of its accounts receivable from its customer, P. Moore. Apply the direct write-off method to record this loss as of October 1.
Required:
Record the write off an account.
Date General Journal Debit Credit
Answers
Answer and Explanation:
The journal entry is shown below:
Bad debts expense Dr $60,000
To Accounts receivable $60,000
(Being the written off amount is recorded)
For recording this we debited the bad debt expense as it increased the expenses and credited the account receivable as it reduced the assets
So for correcting posting and recording we passed accurate entry
You are the manager of College Computers, a manufacturer of customized computers that meet the specifications required by the local university. Over 90 percent of your clientele consists of college students. College Computers is not the only firm that builds computers to meet this university’s specifications; indeed, it competes with many manufacturers online and through traditional retail outlets. To attract its large student clientele, College Computers runs a weekly ad in the student paper advertising its “free service after the sale” policy in an attempt to differentiate itself from the competition. The weekly demand for computers produced by College Computers is given by Q = 1,400 − 4P, and its weekly cost of producing computers is C(Q) = 1,200 + 2Q2.
If other firms in the industry sell PCs at $300, what quantity and price of computers should you produce to maximize your firm’s profits?
Instructions: Round your response to the nearest whole number.
Quantity: _____ computers
Instructions: Round your response to the nearest penny (two decimal places).
Price: $_____
What long-run adjustments should you anticipate?
multiple choice
Entry by other firms along with increased profits.
Exit by other firms along with decreased profits.
Entry by other firms, reducing your profits.
Exit by other firms, increasing your profits.
Answers
The quantity and the price of computers that should be produced to maximize the firm’s profits are 78 units and 330.50 respectively.
The weekly demand for computers is given as: Q = 1,400 − 4P
Therefore, the inverse weekly demand for computers will be: P = 350 - 0.25Q
The total revenue will be gotten by multiplying the price and quantity. This will be: TR = (350 - 0.25Q)Q = 350Q - 0.25Q²
Therefore, marginal revenue will be:
MR = 350 - 0.5Q
The weekly cost of producing computers is C(Q) = 1,200 + 2Q² Therefore, the marginal cost will be:
MC = 4Q
The profit maximizing condition will be:
MR = MC
350 - 0.5Q = 4Q
4.5Q = 350
Q = 77.78 = 80 approximately
The quantity produced should be 80 units.
Since P = 350 - 0.25Q
P = 350 - 0.25(78)
P = 350 - 19.50
P = 330.50
The price is 330.50
Therefore, the long-run adjustment that should be anticipated is the entry by other firms, reducing your profits.
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Under an operating lease: (Select all that apply.)Check All That ApplyThe lessee reports amortization expense and interest expense separately in its income statement.The lessee reports amortization expense and interest expense separately in its income statement.The lessee reports a single amount of lease expense, which is equal to interest expense plus amortization expense, in its income statement.The lessee reports a single amount of lease expense, which is equal to interest expense plus amortization expense, in its income statement.The lessor reports a single amount of lease revenue, which is equal to interest revenue plus amortization revenue, in its income statement.The lessor reports a single amount of lease revenue, which is equal to interest revenue plus amortization revenue, in its income statement.The lessee reports lease expense on a straight-line basis and the lessor reports lease revenue on a straight-line basis over the lease term.The lessee reports lease expense on a straight-line basis and the lessor reports lease revenue on a straight-line basis over the lease term.
Answers
Answer:
The lessee reports a single amount of lease expense, which is equal to interest expense plus amortization expense, in its income statement.The lessee reports lease expense on a straight-line basis and the lessor reports lease revenue on a straight-line basis over the lease term.Explanation:
An operating lease is basically renting an asset from a lessor where the lessee will pay a certain amount every period for the use of the asset.
This rent payment is equal to the interest expense plus amortization expense and will be reported in the income statement of the lessee as an expense.
This amount will also be reported on a straight-line basis for the duration of the lease term which means that even if rent increases, it will still have to be reported by the same amount over the lease period because the lease increase should have been taken into account already.
The lessor also reports lease revenue on a straight-line basis over the lease term.
Which of the following principles of a free enterprise system best explains why the businesses in an industry cannot maintain
an artificially high price?
Open opportunity
Producer sovereignty
Profit
Property rights
Answers
Answer:
Introduction to Economics Unit Test!! Add me on sc to work together!! Kxmiyo_88
Explanation:
1. A small business has one team that installs new swimming pools and four employees that clean and maintain pools. Which of the following is a service that is provided by this business to its customers?
Pool Cleaning
2. Which of the following is an example of physical capital that might be used by a business to install and service car tires?
Hydraulic Lift for cars
3. A sports collector is considering the purchase of either a hockey jersey or a baseball that was struck for a home run. If the collector chooses to purchase the jersey, what is the opportunity cost?
The net value of the ball for the collector
4. A farmer must decide between growing peppers or growing tomatoes. Which trade-off is the farmer considering?
the profit of growing peppers, compared to the profit of growing tomatoes
5. Kendra is trying to decide whether to go to Abby's house to watch a movie or to go to Samuel's house to play board games. They live about the same distance away, and there is no cost for either event. If she chooses to go to Abby's house, what is the opportunity cost?
The net value to Kendra of going to Samuel's house to play games.
6. Sergei had to decide among watching a two-hour movie with a cost of $20, buying a book to read for $10 that would take about four hours to read, and going to a three-hour concert for $30. If he considers the benefit of each situation to be proportional to the amount of time, with a value of about $50 per hour, what is the opportunity cost of the best decision?
$120
7. A small manufacturing firm has two products that are produced using its in house 3-D printers. The budget and time constraints for this process give the production possibilities curve that is defined by the table below. If the company is currently producing 30 units of product A and 39 units of product B, can the production of product B be increased? Explain.
Yes, the production of product B can be increased up to 51 by decreasing the volume for product A.
8. Which points are most efficient for the utilization of resources on a production possibilities diagram?
points inside the curve
The principle of a free enterprise system that best explains why the businesses in an industry cannot maintain an artificially high price is A. open opportunity.
What is a free enterprise system?
A free enterprise system is an economic system where the forces of market demand and supply rule. There is minimal or no government involvement in the marketplace decisions. Government can set rules, but it does not control the activities of consumers and suppliers.
Thus, the principle of a free enterprise system that explains why businesses cannot maintain high prices is not producer sovereignty, profit, property rights, but open opportunity because there is free entrance and exit of competitors and substitute products and services.
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U.S. Treasury issues three types of Treasury securities: Treasury bills (T-bills), Treasury notes (T-notes), and Treasury bonds (T-bonds). The time to maturity (TTM) of T-bills is 12-month or less than 12-month. The TTM of T-notes is between 1 year and 10 years. The TTM of T-bonds is longer than 10 years. Which one(s) (T-bills, T-notes, or T-bonds) belong to the money market instrument(s)? Which one(s) belong to the capital market instrument(s)? If you would like to buy Treasury securities, which one(s) would you purchase? Explain why?
Answers
Answer:
Treasury bills (T-bills) are short-term money market instruments issued by the government to raise short-term funds. They are issued for terms of less than a year and are sold at a discount from their face value. T-bills have maturities of 4, 8, 13, 26, and 52 weeks. Therefore, T-bills belong to the money market instrument(s).
Treasury notes (T-notes) are issued with maturities from two to 10 years and pay interest semi-annually. Therefore, T-notes belong to the capital market instrument(s).
Treasury bonds (T-bonds) are long-term investments that have maturities of 10 to 30 years and also pay interest semi-annually. Therefore, T-bonds belong to the capital market instrument(s).
If you would like to buy Treasury securities, it depends on your investment goals. If you want a short-term investment with low risk and low return, you can consider buying T-bills. If you want a medium-term investment with moderate risk and moderate return, you can consider buying T-notes. If you want a long-term investment with high risk and high return, you can consider buying T-bonds.
Explanation:
I hope this helps
Which of the following is true of a good benefits plan?
a. It is generally inexpensive to buy and administer.
b. It will stimulate higher performance levels.
c. It will encourage people to join an organization.
d. It will include redundancies in coverage.
e. It allows for smaller pay increases.
Answers
Answer:
C
Explanation:
The following is true of a good benefits plan it will encourage people to join an organization. The correct option is c.
What are the benefits of motivated employees?There are several benefits to having a motivated workforce, including lower absenteeism rates, employee retention rates, low staff turnover rates, improved management-worker relationships, higher worker performance, improved quality, and enhanced customer service.
A good benefits plan is an essential part of an organization's compensation strategy. It can be used to attract and retain talented employees and can be a competitive advantage in the job market. A well-designed benefits plan can also help to improve employee morale, motivation, and job satisfaction. While it may require a significant investment, a good benefits plan can provide a good return on investment for the organization.
Thus, the ideal selection is option c.
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Which of the following statements about the W-2 form is TRUE?
1.AW-2 lists all the money you earned in cash over the last year
2. You need a separate W-2 form from EACH of your employers in order to file your taxes
3.The W-2 includes information about the interest you earned from your investments
4.The total wages you earned from ALL jobs you worked in the previous year appear on ONE W-2 form
Answers
Answer:
I believe it it the second option.
Explanation:
What are the three types of inherent value money can have?
A. Regulated, market, and face.
B. Intrinsic, market, and commodity.
.C. Intrinsic, market, and face.
D. Face, intrinsic, and commodity.
Answers
The three types of inherent value money can have are Intrinsic, market, and face. Option C
What is inherent value money about?Cash has an asset's value is determined by its intrinsic value. Instead of using the asset's actual market price, this metric is calculated objectively or through the use of a sophisticated financial model.
Other than its current exchange value for goods and services, it has no worth. Something is valuable in and of itself when it has inherent worth. A thing with intrinsic value is a goal in and of itself.
Hence, the value an entity has for what it is, as a goal, or in and of itself is known as intrinsic value.
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describe how a progressive tax system promotes equity in taxation.
Answers
Answer:
A progressive tax system is a tax system in which the tax rate increases as the income or wealth of the taxpayer increases. This means that those who have higher income or wealth pay a higher percentage of their income or wealth in taxes compared to those with lower income or wealth.
This system promotes equity in taxation as it helps to reduce income inequality. The idea behind this is that those who have more can afford to pay more in taxes, and that the burden of taxation should be shared fairly among all members of society.
In a progressive tax system, those with lower incomes pay a smaller percentage of their income in taxes, and those with higher incomes pay a larger percentage of their income in taxes. This means that those who have less money to spare are not burdened with high tax bills that they cannot afford, while those who can afford to pay more contribute more to the common good.
Progressive taxation also helps to provide revenue for government programs that benefit all members of society, such as education, healthcare, and social welfare programs. This helps to promote a more equal and just society by ensuring that everyone has access to essential services regardless of their income or wealth.
Overall, a progressive tax system promotes equity in taxation by ensuring that those who have more pay more, and that the burden of taxation is shared fairly among all members of society.
Photolite (B) Corporation case study answers
Answers
Companies that have been certified as B Corporations, or B Corps, have had their compliance with strict criteria for social and environmental performance, accountability, and openness evaluated by B Lab.
Who is B Corporation's owner?Three people, Jay Coen Gilbert, Bart Houlahan, and Andrew Cassoy, founded the Certified B Corporation Movement. Co-founders Jay and Bart established the basketball apparel and footwear business AND1. And1 was a prime example of what a socially conscious company may look like in the 1990s.
Certified B is what?The highest standards for social and environmental performance have been voluntarily met by a corporation known as a Certified B Corporation. These requirements are purposefully stringent in order to identify and reward industry leaders.
B Corp was initially formed from "benefit corporation," a type of corporate structure used in the US, but it now has many different meanings to different people.
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What does it mean when a company is B Corp?
Maha looks at this graph and says: “This survey shows that Americans really care about the security of their bank account” Do you agree or disagree with Maha’s conclusion? Explain your reasoning.
Answers
It is challenging to judge the validity of Maha's conclusion without knowing the specifics of the poll.
What year did mobile banking begin?A change in 2007: Many of the mobile banking capabilities we use today were first introduced in 2007, when smartphones first became widely available and major financial institutions regularly announced new product launches from U.S. banks.
Is mobile banking available?You may access practically all financial services using mobile banking. You are not required to go to the bank branch. For instance, you can transfer money, make payments, create an FD in seconds, pay bills and get your bank statements through this service.
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Which of the following might be a duty of a noninstructional aide?
A. Grade homework
B. Teach calligraphy
C. Tutor a child
D. Accompany a child to and from the lavatory
Answers
Tutor a child might be a duty of a non instructional aide. The Non-Instructional Aide supports the administration and instructors duty in maintaining a secure and disciplined learning environment and enforcing school rules.
Respects non instructional information about children, employees, and other administrative issues impacting the district with absolute secrecy. helps the teacher prepare and be ready for each day's activities; duty supports the teacher's efforts in the classroom. helps the teacher create lesson plans, curriculum, and lesson outlines in the designated topics. A person who assists a teacher in a classroom but is not a certified teacher is known as a teacher's aide.
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There are selected transactions of Martin Consulting Service. Post the transactions into the appropriate Ledger accounts.
DATE TRANSACTIONS
20x1
Sept. 1 Marcus Martin invested $40,000 in cash to start the firm.
4 Purchased office equipment for $4,350 on credit from Zappo, Inc.; received Invoice 8925, payable in 30 days.
16 Purchased an automobile that will be used to visit clients; issued Check 1001 for $28,000 in full payment.
20 Purchased supplies for $550; paid immediately with Check 1002. 23 Returned damaged supplies for a cash refund of $105.
30 Issued Check 1003 for $2,100 to Zappo, Inc., as payment on account for Invoice 8925.
30 Withdrew $3,000 in cash for personal expenses.
30 Issued Check 1004 for $4,500 to pay the rent for October.
30 Performed services for $11,325 in cash. 30 Paid $480 for monthly telephone bill, Check 1005.
Post the above transactions into the appropriate Ledger accounts.
Answers
Martin Consulting Service, posting transactions to the appropriate Ledger accounts are as follows:
Cash
Date Account Titles Debit Credit
Sept. 1 Capital, Martin $40,000
Sept. 16 Automobile $28,000
Sept. 20 Supplies 550
Sept. 23 Supplies 105
Sept. 30 Accounts Payable (Zappo, Inc.) 2,100
Sept. 30 Drawings, Martin 3,000
Sept. 30 Prepaid Rent 4,500
Sept. 30 Service Revenue 11,325
Sept. 30 Utilities Expense 480
Capital, Martin
Date Account Titles Debit Credit
Sept. 1 Cash $40,000
Office equipment
Date Account Titles Debit Credit
Sept. 4 Accounts Payable
(Zappo, Inc.) $4,350
Accounts Payable
Date Account Titles Debit Credit
Sept. 4 Office equipment $4,350
Sept. 30 Cash $2,100
Automobile
Date Account Titles Debit Credit
Sept. 16 Cash $28,000
Supplies
Date Account Titles Debit Credit
Sept. 20 Cash $550
Sept. 23 Cash $105
Drawings
Date Account Titles Debit Credit
Sept. 30 Cash $3,000
Prepaid Rent
Date Account Titles Debit Credit
Sept. 30 Cash $4,500
Service Revenue
Date Account Titles Debit Credit
Sept. 30 Cash $11,325
Utilities Expense
Date Account Titles Debit Credit
Sept. 30 Cash $480
Data Analysis:
Sept. 1 Cash $40,000 Capital, Martin $40,000
Sept. 4 Office equipment $4,350 Accounts Payable (Zappo, Inc.) $4,350
Sept. 16 Automobile $28,000 Cash $28,000
Sept. 20 Supplies $550 Cash $550
Sept. 23 Cash $105 Supplies $105
Sept. 30 Accounts Payable (Zappo, Inc.) $2,100 Cash $2,100
Sept. 30 Drawings, Martin $3,000 Cash $3,000
Sept. 30 Prepaid Rent $4,500 Cash $4,500
Sept. 30 Cash $11,325 Service Revenue $11,325
Sept. 30 Utilities Expense $480 Cash $480
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the following are important reasons why we maintain our tools, implements,and equipment except: no
Answers
To assure the operational readiness of the tools, implements, equipment and
maximum return on investments.
If a firm has a sales price per unit of $6.00, a variable cost per unit of $4.00, and a break-even point of 40,000 units, fixed costs are equal to
Answers
Answer:
$80,000
Explanation:
From marginal analysis concepts, the break-even point is determined using the formula.
Break-even in units = fixed cost / contribution margin per unit
For this firm,
break -even = 40,000 units
Contribution margin per unit = selling price - variable costs
=$6 - $4 =$2
Therefore:
40,000 = fixed costs/ $2
Fixed costs = $40,000 x 2
Fixed costs = $80,000
2.
Which form of interest provides the greater return?
a. simple
b. compound
C. complex
d. fragment
Answers
2 years is $24,234. Determine the present value amount, using the following partial table of present value of $1 at compound interest
Answers
The present value amount, given the principal and the partial table of the present value, will be $20,017.28
How to find the present value amount?The present value amount will be the current value of an amount that is denoted in future terms. To find this amount, you need to discount the future amount by a certain discount interest rate, and the number of periods into the future.
The interest rate here is 10% and the amount in 2 years is $24, 234.
Given the partial table of present value of $1 at compound interest, we known that the discount factor for 2 years at 10% is 0.826.
The present value of $24, 234 from two years in the future, in the present is:
= Future value amount x Present value factor for 2 years, 10 %
= 24, 234 x 0.826
= $20, 017.28
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Amazon and Macy's are retailers. By the end of May 22, 2019, the P/E ratio (Price/Earnings ratio) of Amazon is 77.64 but the P/E ratio of Macy's is only 6.16. Why do the market investors give a very high P/E ratio to Amazon but give a low P/E ratio to Macy's? Please explain.
Answers
the disparity in P/E ratios between Amazon and Macy's can be attributed to the differing growth prospects, market positions, and industry dynamics of the two companies.
The P/E ratio is a measure used by investors to assess the relative value of a company's stock. A high P/E ratio generally indicates that investors have high expectations for future earnings growth, while a low P/E ratio suggests lower growth expectations. In the case of Amazon, the high P/E ratio of 77.64 indicates that investors are willing to pay a premium for each dollar of earnings. This is primarily due to Amazon's consistent and impressive revenue growth, as well as its dominant position in e-commerce and cloud computing. Investors expect Amazon's earnings to continue growing at a rapid pace in the future, justifying the higher valuation. On the other hand, Macy's has a lower P/E ratio of 6.16, reflecting lower growth expectations. Macy's operates in the traditional retail industry, which has been facing challenges from online competitors like Amazon. The company's slower revenue growth and concerns about its ability to adapt to changing consumer preferences contribute to the lower valuation assigned by investors. In summary, the disparity in P/E ratios between Amazon and Macy's can be attributed to the differing growth prospects, market positions, and industry dynamics of the two companies.
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how do you feel about Joe Biden winning?
Answers
Answer:I like it finally trump is out of office
Explanation:
I awnsed this to get points lol
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $156,000. The machine's useful life is estimated to be 20 years, or 110,000 units of product, with a $1,000 salvage value. During its second year, the machine produces 4,400 units of product. Determine the machines' second-year depreciation under the straight-line method.
Multiple Choice
$7,800.
$6,240.
$6,200.
$7,850.
$7,750.
Answers
Answer:
Explanation:
Annual depreciation=(cost-salvage value)/useful life
Annual depreciation =(156,000-1000)/20
Annual depreciation =$7750/year
Hence Depreciation for second year=$7750.
Consider total cost and total revenue, given in the following table:
In the final column, enter profit for each quantity. (Note: If the firm suffers a loss, enter a negative number in the appropriate cell.)
Total Cost Marginal Cost
(Dollars)
Quantity (Dollars)
0
1
2
3
4
5
6
7
5
6
8
11
15
20
26
35
05
06
07
Total Revenue Marginal Revenue
(Dollars)
(Dollars)
0
6
12
18
24
30
36
42
AAAAAAA
Profit
(Dollars)
In order to maximize profit, how many units should the firm produce? Check all that apply.
04
Answers
The solution to the given question when we consider total cost and total revenue, given in the following table:
The Financial TableQuantity | Total Cost | Marginal Cost | Total Revenue | Marginal Revenue | Profit
------- | -------- | -------- | -------- | -------- | --------
0 | 5 | 5 | 0 | 0 | -5
1 | 11 | 6 | 6 | 6 | 1
2 | 17 | 6 | 12 | 6 | 5
3 | 24 | 7 | 18 | 6 | 4
4 | 31 | 8 | 24 | 6 | -7
5 | 39 | 8 | 30 | 6 | -9
6 | 47 | 8 | 36 | 6 | -11
7 | 55 | 8 | 42 | 6 | -13
As you can see, the firm's profit is maximized at quantity 3. This is because the marginal revenue is equal to zero at this point, which means that the firm is not making any additional profit by producing more units. In fact, if the firm produces more units, it will actually start to lose money.
Therefore, the answer to the question is 3.
In summary:
The firm's profit is maximized at quantity 3.This is because the marginal revenue is equal to zero at this point.If the firm produces more units, it will start to lose money.Therefore, the answer to the question is 3.Read more about marginal revenue here:
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2. In designing their strategy, most
international firms have to decide
whether they want to enter markets
incrementally (the waterfall approach)
shower
or simultaneously (the
approach). As a
international marketing,
student
of
what will be
your key arguments for choosing
either of such approaches.
Answers
The majority of global businesses must determine whether they wish to simultaneously enter markets or do it incrementally (the waterfall technique) (the approach). What will be your main justifications for deciding on one of these strategies, as a student of international marketing?
The Waterfall Strategy: This method allowed businesses to take advantage of the market; often beneficial structure small businesses need more resources to cover several industries at once. In a cascade system, the new product is often introduced in stages as follows: first in the organization's home market, then in other developed markets, and last in less developed areas. After completing the initial phase, the company should evaluate the new locations that it will use to market its products; the introduction to each market will be completed step by step, taking into account how this market should be similar to the commercial center where the product is currently found. The following are the main advantages of using the cascade technique:
• Enables firms with limited resources to start their internationalization cycle gradually and choose the best method to enter new business sectors based on their interactions with each market.
• The level of risk is lowered because the company will approach each area in a staged manner and may decide to quit if they find any unhappiness with the product market.
• The item displays are continuously presented, and the item life cycle is increased:
Items that are nearing the end of their life cycle in the domestic market may enter other markets, increasing turnover and preventing item stockpiling.
Several drawbacks of this system include:
• Difficulties in the primary stage in the event that low achievement levels occur.
• Early imitation of the thing being displayed innovation (s)
Contrary to the cascade methodology, this approach, known as the concurrent system, searches for the advantages offered by every country at the same time. It takes into account that the time used to arrive to various business sectors is brief. However, some unique nation meetings may be entered before others.
The short pattern of the item requires more interest in R&D, which means that the organization has less of an ideal opportunity to amortize these costs. This type of procedure is somewhat complex because it is not difficult to adjust branches in other countries to create a fruitful section of the item in a short amount of time.
Shower protocol elements:
• Concurrent division into business segments
• Entry into the business sectors in a reasonably brief period of time; timeliness of the separation of useable issues;
· Establishing auxiliary
Benefits of the procedure include:
• Successful entry into industry sectors (also known as "amortization") for:
o quick invention and item cycles (for example semiconductors, PCs)
R&D processes might take a very long period.
• Ability to define market boundaries for competitors (by setting up a picture, for example).
profile)
the following basic flaws:
• Increasing need for co-appointment ("greatest" coordination issue)
• The need to promote co-appointment tools very fast.
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