Answer:
[tex]P(E1)=\frac{20}{50}=0.4[/tex]
[tex]P(E2)=\frac{13}{50}=0.26[/tex]
[tex]P(E3)=\frac{13}{50}=0.34[/tex]
I used the relative frequency method
Explanation:
To solve this question we can use the relative frequency to find out each probability. The relative frequency is the ratio of the occurrence of each event and the total number of outcomes.
Here the experiment has been repeated 50 times, so that is the total number of outcomes and the denominator. There are 3 possible events E1, E2, and E3, so we can calculate the ratios to get the probabilities
Event E1 occurred 20 times of the 50: [tex]P(E1)=\frac{20}{50}[/tex]
Event E2 occurred 13 times of the 50: [tex]P(E2)=\frac{13}{50}[/tex]
Event E3 occurred 17 times of the 50: [tex]P(E3)=\frac{17}{50}[/tex]
In preparing their estimates of the stimulus package's effect on GDP, Obama administration economists estimated a government purchases multiplier of 1.57. This indicates that a $1 billion increase in government purchases would increase equilibrium real GDP by __________.
a) $1 billion
b) $10 billion
c) $100 billion
d) $157 billion
Answer: $1.57 billion
Explanation:
Given that,
Government purchases multiplier = 1.57
Increase in government purchases = $1 billion
[tex]Multiplier=\frac{Change\ in\ Real\ GDP}{Change\ in\ Government\ Purchases}[/tex]
[tex]1.57=\frac{Change\ in\ Real\ GDP}{1,000,000,000}[/tex]
Change in Real GDP = 1.57 × 1,000,000,000
= $1,570,000,000
= $1.57 billion
Hence, $1 billion increase in government purchases will lead to increase equilibrium real GDP by $1.57 billion.
Licensing is perhaps the easiest method of entering into international trade. another method of entering international trade which can be relatively low risk, is _____________, which opens several levels of involvement to company.
Answer:
Another method of entering international trade which can be relatively low risk, is exporting.
Explanation:
After licensing, exporting is one of the smoothest ways to capture international markets. It involves sending goods and services from one country to another. It is considered to be relatively low-risk and it has multiple benefits attached to it. It enables business owners to discover new growth opportunities in an international market. It also helps in widening the target audience. Moreover, businesses with seasonal demand can balance out their sales by capturing different markets.
Torres Travel’s stockholders' equity at the beginning of March 2022 was $200,000. During the month, the company earned net income of $50,000 and paid dividends of $10,000. At the end of March 2022, what is the amount of stockholders' equity?
Answer:
At the end of March 2022, the amount of stockholders' equity is $240,000
Explanation:
The net income of $50,000 increases the amount of stockholders' equity:
stockholders' equity + net income = $250,000
And the paid dividends of $10,000 decreases the amount of stockholders' equity:
stockholders' equity - paid dividends = $240,000
A cellular service provider charged a customer $40 for 150 minutes of airtime. The same provider charged another customer $55 for 300 minutes of airtime. Which linear model represents the total cost, C, as a function of t, the amount of airtime in minutes?
Answer:
[tex]C(t)=0.1t+25[/tex]
Explanation:
So, we are looking for a linear equation. As we know Equation of a line has different forms, let´s use slope-intercept form:
[tex]C(t)=mt+b[/tex]
Where C is the total cost as a function of t, t is the amount of airtime in minutes, m is the slope and b is the y-intercept
Now, let´s use the data provide in order to find m and b:
[tex]40=150m+b[/tex] (E1)
[tex]55=300m+b[/tex] (E2)
We have a 2X2 system of equations, let´s solve it using elimination method:
[tex]2(E1)-(E2)[/tex]
[tex]25=0+b\\b=25[/tex]
Replacing b in (E1) or (E2):
[tex]m=\frac{40-25}{150}[/tex]
[tex]m=\frac{1}{10}=0.1[/tex]
Knowing the slope m and the y-intercept b the linear model that represents the total cost as a function of t is:
[tex]C(t)=0.1t+25[/tex]
You can check the results evaluating t=150 and t=300, the results must be 40 and 55 respectively
A U.S.-based multinational has its operations in a developing country. Owing to the election of a president with conservative trade policies in the host country, operations have been brought to a standstill. This scenario illustrates?
Abbie Marson is the sole owner and operator of Great Plains Company. As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $908,100 and liabilities of $267,845. During Year 2, Marson invested an additional $28,658 and withdrew $25,871 from the business. What is the amount of net income during Year 2, assuming that as of December 31, Year 2, assets were $980,279 and liabilities were $233,892?
a. $33,953.
b. $103,345.
c. $25,871.
d. $72,179.
Answer:
b. $103,345
Explanation:
Assets = Liabilities + Owner's Equity
Owner's Equity (Year 1) = $908,100 - $267,845
= $640,255
Owner's Equity (Year 2) = $980,279 - $233,892
= $746,387
increase in Owner's Equity = Owner's Equity (Year 2) - Owner's Equity (Year 1)
= $746,387 - $640,255
= $106,132
Net income during Year 2 = Increase in Owner's Equity - Additional investment + Withdrawals
= $106,132 - $28,658 + $25,871
= $103,345
Therefore, the amount of net income during Year 2 is $103.345.
Since the creation of the Hershey candy bar over 100 years ago, the price of chocolate has fluctuated, but the price of the candy bar has slowly risen. In fact, when the price of chocolate had dramatic price fluctuations over a three-year period, the price of a Hershey's candy bar remained the same. When the price of chocolate was very high, Hershey's was able to maintain its profits by making the bars smaller. Hershey's engaged in:A) top-down marketing.B) trading up.C) bottom-up marketing.D) game-playing.E) downsizing.
Answer:
C) bottom-up marketing
Explanation:
According to my research on the different business strategies, I can say that based on the information provided within the question Hershey is engaging in bottom-up marketing. This can be said because this marketing approach focuses on finding a workable tactic and then building on the tactic to create a powerful strategy. In this situation it seems that Hershey's tactic for the dealing with the fluctuation in price of chocolate, which is by adjusting the size of the chocolate bars instead of it's price.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
According to the American Marketing Association, the term _____ is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Answer:
The answer is: Marketing
Explanation:
In 2008, the American Marketing Association changed the definition of marketing to:
"Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."
This was done basically to broaden the activities involved in the process of marketing. With this new approach the AMA gave the whole process of marketing a much broader role in the activities involved in society. Before this new definition was released, marketing was seen as an organizational function which involved only the company (organization and stakeholders) and its customers.
he economy is in long-run equilibrium when there is a correctly anticipated increase in aggregate demand. In new Keynesian theory, the price level will rise __________ in the short run than it is predicted to rise in new classical theory.
Answer: slowly
Explanation: In new Keynesian theory, the price level will rise slowly in the short run than it is predicted to rise in new classical theory. New Keynesian explanations of sticky prices often emphasize that not everyone in the economy sets prices at the same time. Instead, the adjustment of prices throughout the economy is staggered. Staggering complicates the setting of prices because firms care about their prices relative to those charged by other firms. Staggering can make the overall level of prices adjust slowly, even when individual prices change frequently. The price level rises slowly as the result of small price increases on the first and the fifteenth of each month. Hence, staggering makes the price level sluggish, because no firm wishes to be the first to post a substantial price increase. During the 1990s, the debate between new classical and new Keynesian economists led to the emergence of a new synthesis among macroeconomists about the best way to explain short-run economic fluctuations and the role of monetary and fiscal policies. The new synthesis attempts to merge the strengths of the competing approaches that preceded it. From the new classical models it takes a variety of modeling tools that shed light on how households and firms make decisions over time. From the new Keynesian models it takes price rigidities and uses them to explain why monetary policy affects employment and production in the short run. The most common approach is to assume monopolistically competitive firms (firms that have market power but compete with other firms) that change prices only intermittently.
Sheila and Vickie are sisters who enter into a contract to buy a vacation property. The sisters get into a dispute, and Vickie no longer wants any part of the deal. However, Sheila talks her younger brother Joe into replacing Vickie on the contract. Vickie agrees to the substitution. This is an example of _____________.
Answer:
The correct answer is Novation.
Explanation:
Innovation represents all those transformations that introduce originality and novelty, usually develop more frequently in the economic context, especially when companies implement new products or services that become successful within the market, prevailing in it through advertising.
Innovation is a technique that can solve problems or shortcomings, which can be done through improvement and not just the creation of something new.
In an establishment that serves alcohol for on premise consumption and gets less than 50% of its gross receipts from alcohol sales, a cashier can be 16. True/False
Answer:
True
Explanation:
Effective from 2015, the Section 106.09 is amended to allow an individual to provide permission to an individual below the age of 18 to act as a cashier in the club or restaurant where alcohol is being sold, only condition applied is:
That the sale of alcohol in such establishment shall not generate revenue more than 50% for total sale revenue including other products.
Here in the given instance,
Gross receipts from sale of alcohol is less than 50% of total sales, and the cashier is 16 years old, thus, it is true.
The practice of an existing firm replacing one or more of its supplier markets with its own hierarchical structure for creating the supplied product is called _____.
Answer:
The answer is vertical integration.
Explanation:
A Vertical Integration is an expansion strategy, in which a company acquiring various entities engaged in different stages of the value chain. The value chain is the series of processes in a manufacturing system that adds value to an end product. It typically consists a sequence of alterations that are applied during the value chain until one or more raw materials are converted into a finished product.
Vertical integration takes place when a company takes over control of different production or distribution stages of the value chain process until a product or a service is created.
Warren corporation purchased a truck at a cost of $60,000. It has an estimated useful life of five years and estimated residual value of $5,000. At the beginning of year three, warren's managers concluded that the total useful life would be four years, rather than five years. There was no change in the estimated residual value. What is the amount of depreciation that warren should record for year 3 under the straight-line depreciation method?
Answer:
What is the amount of depreciation that warren should record for year 3 under the straight-line depreciation method? $15500
Explanation:
Net Value Dep. year End Net value.
Year 1 55000 12000 43000
Year 2 43000 12000 31000
Year 3 31000 15500 15500
Year 4 15500 15500 0
What does the statement "This note is legal tender for all debts, public and private" guarantee?
a) US currency is backed by gold.
b) US currency is backed by silver.
c) US currency is a way of obtaining legal credit.
d) US currency has value backed by the federal government.
Answer:
US currency has value backed by the federal government.
Explanation:
D. US currency has value backed by the federal government.
Your broker calls to offer you the investment opportunity of a lifetime, the chance to invest in mortgage-backed securities. The broker explains that these securities are entitled to the principal and interest payments received from a pool of residential mortgages. List some of the questions you would ask your broker that would help in assessing the risk of this investment opportunity?
Final answer:
When assessing the risk of mortgage-backed securities, ask your broker about the selection process of the underlying mortgages, the default rate, the diversification of the loan pool, terms and conditions, and credit ratings. These questions will help you evaluate the investment's viability.
Explanation:
Assessing the risk of investing in mortgage-backed securities involves asking your broker a series of questions. You would want to know the track record of the financial institutions originating the loans and the details of the securitization process. Key questions include:
How are the mortgage loans being selected for the securities?What is the default rate of the underlying mortgages?Have the mortgages been issued to borrowers with strong credit profiles?How diversified is the pool of mortgages?What are the terms and conditions of the securities?What is the rating given by the credit agencies, and on what basis?How is the revenue stream structured—specifically, what tranches exist, and how is risk allocated among investors?Understanding the risks associated with these securities is crucial, especially given the role they played in the financial crisis of the mid-2000s and questions around the rigor of ratings agencies' assessments at the time.
Jill is looking into the possibility of opening up a day care center in her community, because she is aware of many single-parent families that need a place for their children to stay while the parents work. She is concerned about the long term prospects for such a business. Jill believes the future of her center will depend on whether birth rates and the number of single-parent families remain high. These concerns illustrate how businesses can be affected by...-economic trends-demographic trends-holographic trends-psychometric trends
Answer: Demographic trends
Explanation: Demographic trends refers to the scope of change in the characteristics of the population such as sex ratio, age group etc.
In the given case, Jill is concerned if the demography in his target market would change into more of young people and joint family structure. Such a change would be not good for his business as the number of his potential clients will decrease.
Thus, from the above we can conclude that the given case illustrates the effect of demographic trends on the business.
Which of the following events is not recorded in the accounting records? Entry field with incorrect answer now contains modified data Equipment is purchased on account. A cash investment is made into the business. The declaration of cash dividends. An employee is terminated.
Answer:
An employee is terminated.
Explanation:
All the transactions, in a company or organisation are recorded in financial statements of the company.
For this each transaction having some numerical value, that has a monetary effect on the organisation is identified.
In the given case,
purchase of equipment will involve direct monetary effect as cash will be paid, asset will be increased, etc:cash investment made, will again require cash outflow, and is presented as monetary in nature.Declaration of cash dividends gives existence to a liability called dividend payable, or scrips payable, and is thus, recorded in books.The termination of employee does not itself involve any direct monetary effect. As, the payment made or realized from such termination will be recorded in financial statements.
An annuity may best be defined as:
A. a payment at a fixed interest rate.
B. a series of payments of unequal amount.
C. a series of yearly payments, regardless of amount.
D. a series of consecutive payments of equal amounts.
Answer: D. a series of consecutive payments of equal amounts.
Explanation:
An annuity is a financial commodity that provides a fixed amount of payments, paid in equal periods, such as deposits made into savings accounts, monthly home mortgage payments, and monthly insurance payments.
Annuities are meant to be a safe way to secure a steady capital flow during people´s retirement years, as well as to avoid outliving their assets.
An annuity can be best defined as a series of consecutive payments of equal amounts. The Option D.
What is the definition of an annuity?It is a financial product or investment that provides regular payments over a specified period of time. These payments can be made monthly, quarterly, annually, or at other intervals and they typically include both a principal portion and an interest component.
Annuities are commonly used for retirement planning and provide individuals with a steady income stream during their post-work years. By receiving equal payments at regular intervals, annuity holders can better manage their finances and budget effectively.
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Gather reliable information to help Brent make his decision. To gather this information, use newspapers, call insurance companies or look at their Web sites, and review consumer magazines and Web sites. Also, look at the manufacturer Web site or www.fueleconomy.gov for information about gas mileage. List the sources you use and take notes.
Answer:
One way to calculate mileage is to recollect the milometer reading or to reset the mileage counter once filling up a storage tank.
Explanation:
Fuel potency may be a sort of thermal potency, which means the magnitude relation from effort to results of a method that converts chemical P.E. contained in a very carrier into K.E. or work.
Once doing thus next time, acquire the mileage increased between the 2 gas fill-ups.The last is to divide.
Sara believes that she has a strong case against Tom for the breach of an employment contract. Despite this belief, Sara cannot file a suit against Tom after the expiration of the time allowed for the filing undera) the statute of limitations.b) the doctrine of laches.c) an equitable maxim.d) the remedy at law.
Answer:
The correct answer is a) The statue of limitations.
Explanation:
The statue of limitations is a law that sets a time limit to pursue legal action against an alleged offense. After that period of time is up, it is no longer possible to initiate a claim, regardless of its underlying merits. This time limit varies depending many factors, e.g. the severity of the crime, the amount of time evidence can last and the jurisdiction of the crime. In the case of serious crimes, for instance, genocide and murder, there is no statue of limitations and legal claims can be filed at any time.
Electronic funds transfers ________. a) are a way of moving cash by paper documents b) do not appear on the bank statement c) include direct deposits and debit card transactionsd) are more expensive than mailing a check to make a payment
Answer:
The correct answer is c) Include direct deposits and debit card transactions.
Explanation:
Electronic Fund Transfers (EFT) is an electronic transaction that moves money from one account to another. The accounts can be from the same institution of from different ones, and are processed through the Automated Clearing House (ACH). The ACH is a system that connects all the financial institutions in the United States.
EFTs are paper free and do not need human intermediaries to go through with a transaction. These can be done through direct deposits, wire transfers, debit cards, electronic checks, ATMs, personal computer banking and others.
Electronic funds transfers include activities such as direct deposits and debit card transactions, which are recorded on a bank statement and offer a cost-effective way of transferring funds without the use of paper documents. So, option c is correct.
Electronic funds transfers include direct deposits and debit card transactions. Unlike mailing a check, these transfers do not rely on paper documents and typically occur more quickly and at lower cost. When you use a debit card, you are instructing your bank to transfer money directly from your bank account to the seller immediately, without the need to write a check or handle cash. Additionally, these transactions are recorded on your bank statement, allowing you to keep track of your expenditures and the movement of funds in and out of your account.
It is important to note that neither debit cards nor credit cards are considered money; rather, they are tools that facilitate the transfer of money that already exists within your banking system. Moreover, specialized cards issued by institutions like colleges that allow students to make purchases can be considered part of the money supply to the extent that they represent funds that have been deposited and are available for transactions.
Given the information here, what is the annual cost of owning?
• Home value $ 300,000
• Annual mortgage payments $ 19,200
• Annual property taxes $ 4,800
• Annual homeowner's insurance $ 1,200
• Estimated maintenance and repairs 1 % of home value
• Growth in equity $ 3,000
• Tax savings (mortgage interest and property tax) $ 2,800
• Estimate annual appreciation 1.5 % of home value
a. $300,000b. $38,500c. $28,200d. $338,500e. $17,900
Answer: Option (e) is correct.
Explanation:
Estimate maintenance cost = Home value × Estimated maintenance and repairs 1 % of home value
= $300,000 × 1%
= $3,000
Estimate Annual appreciation = Home value × Estimate annual appreciation 1.5 % of home value
= $300,000 × 1.5%
= $4,500
Total costs:
= mortgage payments + property taxes + homeowner's insurance + Estimate maintenance cost
= $ 19,200 + $ 4,800 + $ 1,200 + $3,000
= $28,200
Benefits = Growth in equity + Tax savings + Estimate Annual appreciation
= $ 3,000 + $ 2,800 + $4,500
= $10,300
Therefore,
Annual cost of owning = Total costs - Benefits
= $28,200 - $10,300
= $17,900
The annual cost of owning the home is $17,900. The correct answer is option e. $17,900.
Step 1
To calculate the annual cost of owning a home, we need to consider all the expenses associated with homeownership and then subtract any savings or gains. Let's break down the calculations step-by-step:
Expenses:
1. Annual mortgage payments: $19,200
2. Annual property taxes: $4,800
3. Annual homeowner's insurance: $1,200
4. Estimated maintenance and repairs: 1% of home value
[tex]\[ \text{Maintenance and repairs} = 0.01 \times \$300,000 = \$3,000 \][/tex]
Total Expenses:
[tex]\[ \text{Total Expenses} = \$19,200 + \$4,800 + \$1,200 + \$3,000 = \$28,200 \][/tex]
Step 2
Savings/Gains:
1. Growth in equity: $3,000
2. Tax savings (mortgage interest and property tax): $2,800
3. Estimate annual appreciation (1.5% of home value):
[tex]\[ \text{Annual appreciation} = 0.015 \times \$300,000 = \$4,500 \][/tex]
Total Savings/Gains:
[tex]\[ \text{Total Savings/Gains} = \$3,000 + \$2,800 + \$4,500 = \$10,300 \][/tex]
Net Annual Cost:
[tex]\[ \text{Net Annual Cost} = \text{Total Expenses} - \text{Total Savings/Gains} \][/tex]
[tex]\[ \text{Net Annual Cost} = \$28,200 - \$10,300 = \$17,900 \][/tex]
To determine the annual cost of owning the home, we sum all the annual expenses: mortgage payments, property taxes, insurance, and maintenance/repairs. We then subtract the total savings and gains from the growth in equity, tax savings, and appreciation of the home value. The result is the net annual cost of owning the home.
Which of the following makes it absolutely essential that nonprofit organizations engage in marketing efforts?
a. Funding from the government is directed toward nonprofit organizations like hospitals.
b. Successful marketing helps attract membership and much-needed funds.
c. Nonprofit organizations are among the major contributors to the U.S. economy.
d. Nonprofit organizations, like for-profit organizations, lay off people during recessions.
e. Churches, zoos, and universities attract the most funding in the United States.
Answer:
Which of the following makes it absolutely essential that nonprofit organizations engage in marketing efforts?
b. Successful marketing helps attract membership and much-needed funds.
Explanation:
Nonprofit marketing is the use of marketing tactics by a nonprofit organization, that promotes the message and the organization. Marketing is particularly important for a nonprofit organization, as they usually need ways to market their cause to volunteers who would want to help and to donors that will give to their cause.
No Child Left Behind legislation is the current reauthorization of the Elementary and Secondary Education Act of 1965. True False
im positive it is true.
Explanation:
Answer:
True
No child let behind legislation is the current reauthorization of the Elementary and Secondary Education Act of 1965
Explanation:
In 2002 No child left behind was passed by Congress as a reauthorization of the elementary and secondary act of 1965. It included provisions for disadvantaged students, as well as support for the reform of standard-based education following the ide that setting high standards and establishing tangible goals could improve the educational environment and its effect on students.
Natalie operates on a pretty tight budget. She is a price-conscious shopper and usually buys store or generic brands to save money. Recently, however, Natalie was given a pretty substantial raise. As such, she has altered her shopping patterns and now regularly buys more expensive, name-brand goods. This is an example of
a. the income effect.
b. horizontal price fixing.
c. the discounts are available to all customers.
Answer: The income effect
Explanation: The income effect refers to the effect on the purchasing power of the consumer when his or her income level changes.
In the given case, Natalie was price conscious and used to buy lower priced goods with the objective of saving money. When her income rises she starts buying expensive goods as her purchasing power increases with increase in income.
Hence from the above we can conclude that the correct option is A.
Which of the following would not be studied in macroeconomics? Select one:
a. The causes of the Great Depression.
b. The growth rate of the U.S. economy.
c. History of gasoline prices
d. The impact of government spending on the economy.
Answer: Option C
Explanation: The branch of economics that studies the economy as whole is called macroeconomics. The subject matter of economics tries to understand and inter-relate factors such as inflation, interest rates, unemployment etc, as these factors impact the overall economy and not just a small portion of it.
Hence from the above, we can conclude that history of gasoline prices is not related to macroeconomics as it is only related to the petroleum industry.
The topic that would not be studied in macroeconomics is the history of gasoline prices.
What is macroeconomics?
Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate.
Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors.
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Which of the following is used as a criterion (measure) for judging the degree of international economic integration of an economy?
i. Trade flows across borders
ii. capital flows across borders
iii. similarity of prices in separate markets
iv. people flows across borders
Answer:
i. Trade flows across borders
Explanation:
The international economic inegration of a region is measured by how much trade flows accros borders from and into a certain country, the ideal would be a global free trade agreement among all nations but we know that is virtually impossible, so the criteria used to measure this is the trade flows across borders, because this means that that economy has been integrated into the global market.
The criteria for judging the degree of international economic integration include trade flows, capital flows, price parity across markets, and migration patterns. These aspects are intertwined with globalization and have implications for trade balances and exchange rates.
The criteria used for judging the degree of international economic integration of an economy include:
Trade flows across borders, which include the exchange of goods and services between countries.Capital flows across borders, encompassing borrowing and lending of money, and foreign ownership of property and stock.Similarity of prices in separate markets, indicating the extent to which prices for the same goods align across different countries, suggesting a unified market.People flows across borders, referring to migration patterns of individuals for reasons such as employment, education, or other economic activities.These components interact with one another and contribute to the growing trend of globalization, which is evidenced by the increasing cross-border transactions in goods, services, and financial capital. Furthermore, international trade and international capital flows can influence the exchange rate and the trade balance, affecting the level of economic integration. Changes in capital flows, for instance, can lead to corresponding adjustments in currency values and influence trade balances, as seen in scenarios of capital outflows in a small, open economy, where the demand for foreign currency can alter the exchange rate.
At the end of a recent year, Jefferson Cleaning Service, a full-service house and office cleaning service, had total assets of $ 6 comma 280 and equity of $ 3 comma 380. How much were Jefferson Cleaning Service's liabilities?
Answer:
Jefferson Cleaning Service's liabilities: 2,900
Explanation:
Accounting Equation Formula
Assets = Liabilities + Owner's Equity
Asset – Owner's Equity = Liabilities
In Jefferson Cleaning Service`s case:
Liabilities = 6,280 – 3,380
Liabilities = 2,900
Final answer:
Jefferson Cleaning Service's liabilities add up to $2,900, calculated by subtracting equity from the total assets, using the accounting equation Liabilities = Assets - Equity.
Explanation:
To determine the amount of Jefferson Cleaning Service's liabilities, we use the basic accounting equation:
Assets = Liabilities + Equity
Given that the total assets are $6,280 and the equity is $3,380, we can find the liabilities by rearranging the equation:
Liabilities = Assets - Equity
So, the liabilities of Jefferson Cleaning Service are calculated as follows:
Liabilities = $6,280 - $3,380
Liabilities = $2,900
Therefore, Jefferson Cleaning Service's liabilities amount to $2,900.
Healthy Living, a diet magazine, collected $ 240,000 in subscription revenue on June 30. Each subscriber will receive an issue of the magazine in each of the next 12 months, beginning with the July issue. The company uses the accrual method of accounting. What is the amount of Subscription Revenue that has been earned by the end of December? (Round any intermediate calculations to two decimal places, and your final answer to the nearest whole number.)
Answer: $120,000
Explanation:
Given that,
On June 30,
Subscription revenue collected = $240,000
Each subscriber will receive = magazine in each of the next 12 months
No. of months from July to December = 6
Here, company is using accrual method of accounting,
Amount of Subscription Revenue that has been earned by the end of December:
[tex]=\frac{Subscription\ Revenue}{12}\times No. of months[/tex]
[tex]=\frac{240,000}{12}\times6[/tex]
= $120,000
Final answer:
Healthy Living magazine earned $120,000 in subscription revenue by the end of December, calculated by accounting for 6 months of magazine deliveries from the total annual subscription revenue collected.
Explanation:
The question involves calculating the amount of Subscription Revenue that has been earned by Healthy Living magazine at the end of December. Healthy Living collected $240,000 in subscription revenue on June 30 for subscriptions that cover the next 12 months, starting with the July issue. As the company uses the accrual method of accounting, the revenue recognized should match the period in which the magazines are delivered.
To calculate the earned subscription revenue by the end of December, we need to consider the number of months for which the magazine has been delivered. From July to December, there are 6 months. Since the total subscription revenue is for 12 months, each month accounts for $240,000 / 12 = $20,000 in revenue. Therefore, the revenue earned by the end of December is $20,000 * 6 = $120,000.
A friend of yours has an interview with an economics consulting firm and has been asked to discuss a microeconomics topic. Which of the following topics would you recommend that your friend discuss?A) the study of how prices are determined in the baseball card industryB) how unemployment is falling in the national economyC) what the Federal Reserve will do with interest ratesD) what the next president will do to stimulate the national economy
Answer:
The answer is: A) the study of how prices are determined in the baseball card industry
Explanation:
Microeconomics is concerned with single factors (individuals or an specific company or industry) and the effects of their decisions and allocation of resources. The baseball card industry and their pricing methods enter into this category.
While the country´s unemployment rate, or the Fed´s interest rate, or national politics affect the whole economy, so they part of Macroeconomics.