1.2. What are five foundations of economics?Eleanor works at a department store and is paid by the hour. She can work as many hours as she wants each week. When not at work, Eleanor likes to spend her time reading. The store recently increased her hourly wage.Fill in the blanks to complete the passage describing Eleanor’s situation.

Answer:

B. Gift economy

Explanation:

Correct Answer: gift economy

Answer:

Transaction Effects on the accounting equation:

a. The company pays cash toward an account payable.

Asset (Cash) reduced = Liabilities (Accounts Payable) reduced + Equity

b. The company purchases equipment on credit.

Asset (Equipment) increased = Liabilities (Accounts Payable) increased + Equity

c. The owner invests cash in the business in exchange for its common stock.

Asset (Cash) increased = Liabilities + Equity (Common Stock) increased

d. The company pays cash dividends to shareholders.

Assets (Cash) reduced = Liabilities + Equity (Retained Earnings) reduced

e. The company purchases supplies for cash.

Assets (Supplies) increased and (Cash) reduced = Liabilities + Equity

f. The company provides services for cash.

Assets (Cash) increased = Liabilities + Equity (Retained Earnings) increased

Explanation:

The accounting equation shows that assets are always equal to liabilities and equity with each given business transaction.  With the double entry system of accounting, each transaction has double effects on the accounting equation on one side or on both sides of the equation.

The effect transaction in this scenario is the owner invests cash in the business in exchange for its common stock. This transaction increases the company's cash balance and adds to its equity by increasing the owner's investment. Therefore, option c is correct.

In the context of accounting and finance, equity refers to the ownership interest in a business or organization. It represents the residual interest in the assets of the entity after deducting liabilities.

Equity can be in the form of common stock, preferred stock, or retained earnings. It reflects the claims of the owners or shareholders on the company's assets and represents their ownership rights.

Equity is an important component of a company's financial structure and plays a role in determining its value, financing options, and distribution of profits.

Learn more about equity here:

https://brainly.com/question/28767097

#SPJ6

Explanation

Microeconomics is one of the significant center regions inside the scholarly field of financial aspects. While the degree and techniques for microeconomics can be intricate, its general center is moderately direct. Microeconomics inspects the regular activities of the commercial center, zeroing in on the choices made by people – individuals and organizations – as they purchase, sell, contribute and settle on other monetary choices. You don't have to officially consider microeconomics to apply a portion of its standards to your private company.

Answer:

I also think it is A

Explanation:

They should consult a transportation salesman in the Sales and Services career pathway. Thus, option A is correct.

The organization of a supply chain as it relates to a business is known as logistic planning. It entails a company's evaluation of order quantities, transportation, and storage. Before getting to the final customer, products go through a number of phases after manufacturing. The likelihood of product damage is decreased, order fulfilment is made more efficient, and profits can be increased by lowering shipping and storage costs.

Because it involves tracking commodities, logistics stretch back as far as trade. The old ways entailed keeping analogue records and certifying goods with trade seals. The Internet of Things (IoT) and radio-frequency technology are two examples of modern techniques that rely on technology. A crucial element of most logistics is the capacity to keep track of products across the supply chain.

Therefore, we can conclude that option A is correct.

Learn more about Logistics Planning here:

https://brainly.com/question/23717140

#SPJ7

Answer:

c. Goodwill Account

Explanation:

In the case when the company is in liquidation and the purchasing company paid the liquidation expense as it is beared by them so here the expenses would be debited to the goodwill account

Therefore as per the given situation, the option c is correct as the liquidation expenses should be debited to the goodwill

So the rest of the options are wrong

Answer:

The value of the x-intercept of the budget line is 25.

Explanation:

Based on the question, the budget line equation is as follows:

X5 + Y7.5 = 125 ......................... (1)

Where;

X = Unit of commodity X or value of the x-intercept of the budget line

Y = Unit of commodity Y or value of the y-intercept of the budget line

To calculate value of the x-intercept of the budget line, we assume that Y = 0. Substituting Y = 0 into equation (1) and solve for X, we have:

X5 + (0 * 7.5) = 125

X5 = 125

X = 125 / 5

X = 25

Therefore, the value of the x-intercept of the budget line is 25.

Answer:

Number of year n = 9 year (Approx)

Explanation:

Given:

Effective annual interest rate = 12.95% = 0.1295

Find:

Number of year n

Assume;

Invested = P

Amount = 3P

So,

3P = P(1+0.1295)ⁿ

3 = 1.1295ⁿ

n = 9

Number of year n = 9 year (Approx)

I think the answer will be

Answer:

TRUE

Explanation:

A divisional income statement as the name implies it talks about a summary of the revenue generated in a particular unit within a business enterprise after removing the divisional costs in the same particular unit. Divisional income statements are internal reports so they do not have to follow generally accepted accounting principles (GAAP) as the statements generated are done within an organization. The Generally Accepted Accounting Principles are rules, codes of conduct set by a financial regulating body to make business enterprise, corporate accounting do the right thing whenever they are publishing their financial reports and statements.

Answer:

[Debit] Work In Process : Assembly Department $47,064

[Debit] Work In Process : Finishing Department $19,504

[Credit] Overheads $66,568

Explanation:

Note that overheads are assigned to departments on the basis of 160% of labor costs. Thus, our first point of call is to determine the labor cost for the respective departments. After that we then apply the 160 % to arrive at the Overheads assigned to that department

Step 1

Determine Departmental Labor Cost

Total Labor Costs         =   $62,800

Assembly Department = ( $44,400)

Finishing Department  =    $18,400

Step 2

Determine Overhead Cost for the Departments

Assembly Department ( $44,400 × 160 %) = $47,064

Finishing Department  ( $18,400 × 160 %)  = $19,504

Step 3

Journalize

Debit the Work In Process Account for the respective department and Credit the Overheads Account as above.

Answer:

the break even point in dollars is $360,000

Explanation:

The computation of the break even sales in dollars is given below:

Break even sales in dollars is

= Fixed cost ÷ contribution margin ratio

where,

Contribution margin ratio is

= (Sales - variable cost) ÷ (Sales)

= ($390,000 - $269,100) ÷ ($390,000)

= 31%

Now the break even point in dollars is

= $111,600 ÷ 0.31

= $360,000

Hence, the break even point in dollars is $360,000

Answer:

b/ because its acurat

Explanation:

Answer:

c … obtain data

Explanation:

thanks me later

Answer:

Total return = 26.4%

Explanation:

Given:

Initial price = $71 per share

Dividend = $1.75 per share

Ending share price = $88

Compute:

Percentage total return

Computation:

Total return = [Ending share price + Dividend - Initial price)/Initial price

Total return = (88 + 1.75 - 71) / 71

Total return = 26.4%

Answer: d. Left navigation > Apps

Explanation:

QuickBooks Online is a very useful accounting software that caters for the accounting needs of millions of small and medium type businesses including novices due to its simple interface.

Should Diane Doolittle want to see the apps that are connected to her client's account she should click on the left navigation and on the list she will see Apps (below work). Clicking on this would give the required information.  

Answer:

We call it an estimated mean because it represents the average of the data collected, and we assume that this average (estimated mean) represents the data collected. But this is not necessarily true since the estimated mean is not the same as all the different data collected. Most of the times, when we are working with statistics we do not know or are not even given all the data, we are just given the relevant ratios or indicators.

Answer: False

Explanation:

A sudden stop refers to the sudden decline in net capital inflows in the economy from outside. This is a significant method by which the economy can have access to foreign exchange.

If the country therefore borrows internationally in foreign currencies whilst lending in domestic currency, the sudden stop will be difficult to navigate because it will impair the country's ability to pay off the international creditors it has because it will not have enough of the required foreign currency to pay them.

Answer:

$5,000

Explanation:

The amount of direct labor cost is calculated as;

= Increase in work in process during the year + Increase in work in process during the year

Given that;

Increase in work in process during the year = $2,500

Further increase in work in process during the year = $2,500

Direct labor cost = $2,500 + $2,500

Direct labor cost $5,000

A cylindrical garbage can has the dimensions shown.

A cylinder has a diameter labeled twelve inches and height labeled fifteen inches.

Question 1

Part A

What is the area of the horizontal cross section of the cylinder? Use 3.14 for π.

Enter the correct answer in the box.

about

square inches

Question 2

Part B

What is the area of the vertical cross section of the cylinder through the centers of the bases?

Enter the correct answer in the box.

square inches

Question 3

Part C

Which cross section has the greater area, and by how much?

Select the correct answers from the lists to complete the sentence.

The vertical cross section has the greater area, by about 66.96 square inches.

Answer:

5.875%

Explanation:

Yield on 4 year security = real risk free rate + average inflation over 4 years

average inflation over 4 years = (3% + 3.5% +  3.5% + 3.5% ) / 4 = 3.375%

3.375% + 2.5% = 5.875%

Answer:

$29.17

Explanation:

Calculation for how much would you be willing to pay for one share of the preferred stock

Using this formula

Amount willing to pay=Preferred stock annual dividend/Required rate of return on preferred stock

Let plug in the formula

Amount willing to pay=$3.50 per share/0.12

Amount willing to pay=$29.166

Amount willing to pay=$29.17 (Approximately)

Therefore how much would you be willing to pay for one share of the preferred stock is $29.17

Answer:

Its (A) When demand for the product increases

Explanation: I just tooke the Economics Exam.

Answer:

The total dollar return on this investment over the past year is $145.

Explanation:

The total return will be the sum of the interest income received from the bond and any price apppreciation received after one year period.

First we need to determine the interest income

Interest income = Face value of the bond x Coupon rate

where

Face value = $1,000

Coupon rate = 8%

Interest income = $1,000 x 8%

Interest income = $80

Now calculate the price appreciation

Price appreciation = Present value of the bond - Purchase value of the bond

Where

Present value of the bond = $1,135

Purchase value of the bond  = $1,070

Placing values in the formula

Price appreciation = $1,135 - $1,070

Price appreciation = $65

Now calculate the total return

Total return = Interest income +  Price appreication

Total return = $80 + $65

Total return = $145

Answer:

The differences between the industrial organization (I/O) and the resource-based models of above-average returns can be summarized as follows:

1. The I/O model stresses that above-average returns can only be achieved given the opportunities and threats of the prevailing market structure.  This implies that the returns that the entity achieves depend on whether the market is a perfect competition, a monopoly, a monopolistic competition, or an oligopoly.  It is eternally-focused.  The I/O model is a market-based strategic approach that is environmentally-driven.

2. On the other hand, the resource-based model explains that the entity could achieve above-average returns because of the entity's unique or heterogeneous resources and capabilities.  Therefore, this approach tends to match a firm's resources and capabilities to the market opportunities that arise in the external environment.  This strategic approach concentrates on the strengths and weaknesses of the internal resources and capability endowment.

3. In any given industry, the significance or validity of these models can be determined by examining how the business entity spends its resources.  Is the entity developing its internal capability through training and, what is its cultural orientation?  Or is it fighting the competition with its resources, thereby dissipating energy on market positioning?

Explanation:

The I/O model or market-based theory is of the view that market opportunities and threats determine the achievable outcomes for an entity.  It takes what the market gives.  The resource-based theory has a different view.  It suggests that the internal resources an entity possesses are valuable, rare, uncommon, and difficult for competitors to replicate.  Therefore, it tries to develop these resources and capabilities in order to achieve superior performance.  It is not a price or profit taker but a price mover and profit shaker.

Answer: Opportunity

Explanation:

SWOT simply stands for the strengths, the weaknesses, the opportunities, and the threats that a particular business may face. Strengths are the attributes that are necessary to achieve organizational goals and to be successful.

Weaknesses are the attributes that re detrimental to the success of the company or achieving organizational goals.

Opportunities are the external factors that are favorable which can give a competitive advantage to an organization or allow the organization achieve its goals. Threats could hinder the success of the company.

Based on the analysis, the answer is Opportunity.

Answer:

EOQ= 18

Explanation:

Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs.

To calculate the economic order quantity (EOQ), we need to use the following formula:

Economic order quantity (EOQ)= √[(2*D*S)/H]

D= Demand in units

S= Order cost

H= Holding cost

D= 1,215

S= $10

H= $75

Economic order quantity (EOQ)= √[(2*1,215*10)/75]

EOQ= 18

Answer:

A. True

Explanation:

New York is the most popular city in the US and home to the world-famous statue of liberty. New York city has attractive tourist destination sites and offers wonderful shopping experiences. In 2019, the city welcomed over 13.5 million visitors from outside the US.

New York is the most sought tourist destination. It is also the most visited city in the world.

So far the most-visited city's in the world are, 1st= New York City (66.6million), 2nd= London (30million) and 3rd= Bangkok (22.7million).

Question Completion:

Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) $ 1,509,000 567,040 941,968 1,036,000 $ (94,040) In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information: Division Central $389,000 $600,000 $520,000 East West Sales Variable expenses as a percentage of sales Traceable fixed expenses 27% 36% $283,000 $336,000 $203,000

Prepare a contribution format income statement segmented by divisions Division Total Company East Central West

The Marketing Department has proposed increasing the West Division's monthly advertising by $25,000 based on the belief that it would increase that division's sales by 19%.

Answer:

Wingate Company

a. Contribution format income statement segmented by divisions

Division                            Total Company        East      Central        West

Sales                                   $ 1,509,000   $389,000  $600,000  $520,000

Variable expenses                   567,040      217,840      162,000      187,200

Contribution margin                 941,960     $171,160   $438,000   $332,800

Traceable fixed expenses      822,000  $283,000   $336,000  $203,000

Non-traceable fixed expense  214,000

Net operating income (loss) $ (94,040)   ($111,840)   $102,000  $129,800

b. If the marketing department's proposal is implemented, the net operating loss will decrease by $38,232, i.e from $94,040 to $55,808.

Explanation:

a) Data and Calculations:

Wingate's most recent monthly contribution format income statement:

Sales                                   $ 1,509,000

Variable expenses                   567,040

Contribution margin                 941,968

Fixed expenses                     1,036,000

Net operating income (loss) $ (94,040)

Additional information:

Division                                 Central       East          West

Sales                                   $389,000  $600,000  $520,000

Variable expenses as a

 percentage of sales                 56%           27%           36%

Traceable fixed expenses $283,000  $336,000 $203,000

Increase in Division West's fixed expenses by $25,000

Expected increase in Division West's sales = 19%

Contribution format income statement segmented by divisions

Division                            Total Company        East      Central        West

Sales                                   $ 1,509,000   $389,000  $600,000  $520,000

Variable expenses                   567,040      217,840      162,000      187,200

Contribution margin                 941,968     $171,160   $438,000   $332,800

Traceable fixed expenses      822,000  $283,000   $336,000  $203,000

Non-traceable fixed expense  214,000

Net operating income (loss) $ (94,040)   ($111,840)   $102,000  $129,800

Based on new proposal:

Contribution format income statement segmented by divisions

Division                            Total Company        East      Central        West

Sales                                   $ 1,607,800   $389,000  $600,000   $618,800

Variable expenses                  602,608      217,840      162,000    222,768

Contribution margin              1,005,192     $171,160   $438,000  $396,032

Traceable fixed expenses      847,000  $283,000   $336,000  $228,000

Non-traceable fixed expense  214,000

Net operating income (loss) $ (55,808)   ($111,840)   $102,000  $168,032