Answer:
B. total revenue will decrease.
Explanation:
The initial revenue for breakfast cereal is given by the product between the price of cereal (P) and the demanded quantity (D):
After a 25% decrease in price and a 20% increase in demand, the new revenue will be:
The new revenue is 90% of the original revenue; therefore, total revenue will decrease.
Answer:
$6,000
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Since the Allowance for Doubtful Accounts has a credit balance of $1,200 before adjustment at December 31, 2016, the additional amount to be allowed
= $7200 - $1200
= $6000
This will be posted as
Debit Bad debt expense $6000
Credit Allowance for doubtful debt $6000
Answer:
Results are below.
Explanation:
Giving the following formula:
Purchase price= $67,560
Salvage value= $6,900
Useful life= 6 years
<u>To calculate the depreciation expense under the straight-line method, we need to use the following formula:</u>
<u></u>
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (67,560 - 6,900) / 6
Annual depreciation= $10,110
<u>2022:</u>
Annual depreciation= (10,110/12)*3= $2,527.5
<u>2023:</u>
Annual depreciation= $10,110
Answer:
D. All of the above.
Explanation:
In economics, opportunity cost is the alternative forgone. For example, if two goods X and Y with prices $2 and $3 respectively are compared and an individual chooses to buy X instead of Y, the opportunity cost is the good Y itself that is forgone and not $3 which the price of Y.
Opportunity cost can also be seen as benefits an individual forgo in order to choose an alternative over another.
Therefore, individual pair comparison of each of the following statements opportunity cost to Frank's decision to reduce his weight:
A. His opportunity cost is the alternative uses of time spent exercising.
B. His opportunity cost is the forgone satisfaction of consuming foods that are not part of his diet plan.
C. Assuming exercise is not leisure comma he trades consumption of current leisure for future health.
I wish you the best.
Answer:
115,000 chairs
Explanation:
Calculation to determine How many of the chairs that were started were also completed during February
Using this formula
Chairs started and Completed=Beginning chairs production-Ending chairs production
Let plug in the formula
Chairs started and Completed=140,000 chairs- 25,000 chairs
Chairs started and Completed= 115,000 chairs
Therefore The numbers of chairs that were started and were also completed during February will be 115,000 chairs
