Purchases and Cash Payments Journals Happy Tails Inc. has a September 1, 20Y4, accounts payable balance of $620, which consists of $320 due Labradore Inc. and $300 due Meow Mart Inc. Transactions related to purchases and cash payments completed by Happy Tails Inc. during the month of September 20Y4 are as follows: Sept. 4. Purchased pet supplies from Best Friend Supplies Inc. on account, $295. Sept. 6. Issued Check No. 345 to Labradore Inc. in payment of account, $320. Sept. 13. Purchased pet supplies from Poodle Pals Inc. on account, $790. Sept. 18. Issued Check No. 346 to Meow Mart Inc. in payment of account, $300. Sept. 19. Purchased office equipment from Office Helper Inc. on account, $2,510. Sept. 23. Issued Check No. 347 to Best Friend Supplies Inc. in payment of account from purchase made on September 4. Sept. 27. Purchased pet supplies from Meow Mart Inc. on account, $450. Sept. 30. Issued Check No. 348 to Jennings Inc. for cleaning expenses, $80. Happy Tails Inc. uses the following accounts: Cash 11 Pet Supplies 14 Office Equipment 18 Accounts Payable 21 Cleaning Expense 54 a. Prepare a purchases journal and a cash payments journal to record these transactions in chronological order. If an amount box does not require an entry, leave it blank. If no entry is required in "Other Accounts Dr." then select "No entry required".
Answers
Answer:
Explanation:
(21) (14/18) (11)
Payable Purchase Cash/ Bank
Date Particulars Dr Cr Dr Cr Dr Cr
Sept.1 Labradore 320
Sept.1 Meow 300
Sept 4 Best friend 295 295
Sept 6 Labradore 320 320
Sept 13 poodle 790 790
Sept 18 Meow 300 300
Sept 19 Helper 2510 2510
Sept 23 Best friend 295 295
Sept 27 Meow 450 450
Total 915 4665 4045 915
In recording purchase transaction ,purchase account is debited , payable account credited and the bank or cash account credited with corresponding payment
Related Questions
1. Which statement about leaders and managers is most likely false?
a)
Managers are concerned with the efficiency of results, whereas leaders are
primarily concern with results.
b)
Leaders focus on risk taking whereas managers focus on planning
c)
Leaders accept the status quo, managers challenge it.
d)
Leaders develop but managers maintain.
Answers
Answer:
I'd say A!
Explanation:
hope this helps! sorry if it's wrong
The assets and liabilities of the company are $128,000 and $84,000, respectively. Owner’s equity should equal
Answers
Based on the assets and liabilities of the company, the owner's equity is $44,000
What is the owner's equity?This can be found by the accounting formula which is:
Assets = Liabilities + Equity
When solving for equity this becomes:
Equity = Assets - Liabilities
Solving gives:
= 128,000 - 84,000
= $44,000
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A firm has to choose between two technologies; both produce same output with one being labor intensive and other being capital intensive. The firm will use labor intensive technology when _________________. Select the correct answer below: wages are less than the interest rate total cost of labor is less than total cost of capital average variable cost is less than average fixed cost labor is more productive than capital
Answers
Answer:
total cost of labor is less than total cost
Explanation:
In the case when the firm would use the labor intensive technology at the time when the marginal product from labor intensive would be more than the marginal product of capital intensive this is due to the rise in the firm benefit as the firm would produce and sell more
The other thing is that the cost of labor intensive would be less than the capital intensive cost. This cost would benefit the organization with respect to the decision making
Which of the outcomes in are most appealing to you? Are you more attracted to extrinsic outcomes or intrinsic outcomes?
Answers
Extrinsic outcomes are external rewards such as money, status, or recognition that come from achieving a goal. These outcomes are appealing to some individuals because they provide tangible benefits and can be easily measured by others.
On the other hand, intrinsic outcomes are internal rewards such as personal satisfaction, a sense of accomplishment, or personal growth that come from achieving a goal. These outcomes are appealing to some individuals because they provide a deeper sense of fulfillment and can be more meaningful in the long-term.
Ultimately, whether someone is more attracted to extrinsic or intrinsic outcomes depends on their personal values and goals. Some people may prioritize external rewards and seek to maximize their income or social status, while others may prioritize personal growth and seek to achieve goals that align with their passions and values.
It is important to strike a balance between both types of outcomes and to find a sense of purpose and satisfaction in the goals that we pursue.
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Felicia has sent a memo to her employee, Ben, to schedule Ben's performance review. Which choice best
describes Felicia in this communication scenario?
O a barrier to the message
O a paraphraser of the message
o the receiver of the message
the sender of the message
Answers
Answer:
Option no. 3
This is the answer
Answer:
3. the sender of the message
Explanation:
edge 2021
Fixed costs are _____.
costs that increase regardless of how much of a good or service is produced
costs that stay the same regardless of how much of a good or service is produced
costs that decrease regardless of how much of a good or service is produced
none of the above
Answers
Answer:
costs that stay the same regardless of how much of a good or service is produced
Explanation:
In the short run, fixed costs are the expenses that do not change regardless of the output level. In other words, fixed costs remain a constant amount throughout the financial period. Examples of fixed costs include rent, administrative salaries, insurance, and loan repayments. These amounts will be the same irrespective of production levels.
Fixed costs contrast with variable costs that vary depending on the output level.
Question 7 of 10
If you borrow $2,000 at 5 percent simple interest, how much will you owe
after one year?
A. You will owe 5 percent of the principal only.
OB. You will owe the principal of $2,000 only.
C. You will owe the principal of $2,000 plus 5 percent of the principal.
D. You will owe the principal of $2,000 minus 5 percent of the
principal.
Answers
You will owe the principal of $2,000 plus 5 percent of the principal.The correct answer to this question is C.
Simple interest is calculated by multiplying the principal by the interest rate and the time period. In this case, the principal is $2,000 and the interest rate is 5 percent. After one year, the interest accrued would be $100 (5% of $2,000).
Therefore, the total amount owed after one year would be $2,100 ($2,000 principal + $100 interest). It is important to note that simple interest is calculated only on the principal amount borrowed, and not on any interest that has already accrued.
Additionally, the interest rate is usually expressed as an annual rate, so it is important to adjust the time period accordingly if the loan term is less than one year. The correct answer to this question is C.
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Question 49
A producer may share commission with
O the underwriter of the insurance company
O another licensed but unappointed producer
O the insured to offset a portion of the premium payable
O an unlicensed person who has sold, solicited, or negotiated a policy of insurance
2 of 50 Questions Remaining
Answers
The correct answer to question 49 is that a producer may share commission with another licensed but unappointed producer. b is correct answer
A producer may share commission with another licensed but unappointed producer.
In the insurance industry, a producer is an individual or entity that sells, solicits, or negotiates insurance policies. Producers can be insurance agents, brokers, or other licensed professionals authorized to conduct insurance transactions. Commissions are the compensation received by producers for their services in selling insurance policies.
While producers typically earn commissions based on the premiums paid by policyholders, they may also share commissions with other licensed individuals who are not appointed producers. These individuals are usually part of the same agency or brokerage and contribute to the sales process. By sharing commissions, producers can incentivize teamwork, encourage collaboration, and reward the efforts of their colleagues.
It's important to note that sharing commissions with unlicensed individuals who have sold, solicited, or negotiated insurance policies is generally not allowed. Insurance regulations require that only licensed individuals engage in insurance-related activities. Unlicensed individuals do not have the necessary qualifications, training, and legal authorization to participate in the sales process or receive commissions.
The sharing of commissions with the underwriter of the insurance company or the insured to offset a portion of the premium payable is also uncommon. The underwriter is responsible for assessing risk and determining policy terms, while the insured pays premiums to obtain coverage. Commissions are typically allocated to the producer involved in the sale and are not shared with the underwriter or the insured.
Therefore, the correct answer to question 49 is that a producer may share commission with another licensed but unappointed producer.
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Mrs. Slayman slays all day. She slays 17 times a second. Approximately how much Slaying does Mrs. Slayman do in a day?
Answers
Mrs. Slayman slays approximately 1,468,800 times in a day.
How to calculate much Slaying does Mrs. Slayman do in a dayIf Mrs. Slayman slays 17 times every second, then in one minute (60 seconds), she slays:
17 times/second * 60 seconds = 1020 times/minute
In one hour (60 minutes), she slays:
1020 times/minute * 60 minutes = 61,200 times/hour
And in one day (24 hours), she slays:
61,200 times/hour * 24 hours = 1,468,800 times/day
Therefore, Mrs. Slayman slays approximately 1,468,800 times in a day.
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What are some of the reasons why domestic policies change overtime?
Answers
Answer:
They changed as the USA entered the war.
Explanation:
American and domestic foreign policy during World
War 2 were linked in that once America entered the
war it had a significant impact on its economy.
When we say during World War 2 we must remember
that the USA did not enter the war until December
1941 after the attack on Pearl Harbour. Even then
there was no guarantee that they would become
involved in a war in Europe. It was Hitler who
declared war on the USA.
Prior to that American domestic politics
were dominated by the arguments between
interventionism and isolationism. President Roosevelt
had to tread a fine path in providing limited support to
the UK whilst being careful not to turn public opinion even more against involvement in a war thousands of miles away.
Japan's failure to deliver a knockout blow at Pearl Harbour meant that the US economy, on a war footing, was powerful enough to produce military hardware on a scale not seen before which would lead to victory in 1945 and the USA emerging as the most powerful country in the world.
Domestic policies change over time mainly due to changing societal values, economic conditions, and political influences. Society's evolving nature, economic developments, and shifts in political power greatly influence such changes.
Explanation:Domestic policies change over time due to a variety of reasons. The primary ones include changing societal values, economic conditions, and political influences. For instance, societal values evolve over time, which may either necessitate new policies or changes in existing ones to address contemporary issues. Economic conditions may influence policy changes for enhancing economic stability and growth. Changing political influences also play a significant role as different political parties with contrasting priorities and approaches to governance come to power.
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Definition of PPPFA and BBBEE?
Answers
Keyser Mining is considering a project that will require the purchase of $980,000 in new equipment. The equipment will be depreciated straight-line to a zero book value over the 7-year life of the project. The equipment can be scraped at the end of the project for 5 percent of its original cost. Annual sales from this project are estimated at $420,000. Net working capital equal to 20 percent of sales will be required to support the project. All of the net working capital will be recouped. The required return is 16 percent and the tax rate is 35 percent. What is the amount of the after-tax salvage value of the equipment?
A. $17,150
B. $31,850
C. $118,800
D. $237,600
E. $343,000
Answers
The amount of the after-tax salvage value of the equipment is $31,850. Option B
How to find the amount of the after-tax salvage value of the equipment?To determine the after-tax salvage value of the equipment, we need to calculate the salvage value at the end of the project and then apply the tax rate.
Therefore, the salvage value is:
Salvage Value = 5% of $980,000
= 0.05 * $980,000
= $49,000
The tax rate is given as 35 percent, so we can calculate the after-tax salvage value as:
After-Tax Salvage Value = Salvage Value - Tax on Gain
= $49,000 - (Tax Rate * Gain)
= $49,000 - (0.35 * $49,000)
= $49,000 - $17,150
= $31,850
Therefore, the amount of the after-tax salvage value of the equipment is $31,850.
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Windborn Company has 15,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of $30 par common stock.
The following amounts were distributed as dividends:
20Y1 $30,000
20Y2 12,000
20Y3 45,000
Common Stock
(dividends per share)
I cannot figure out Y1 or Y3
Answers
The dividends per share for the common stock in year 1 (Y1) is $0.60 per share, and in year 3 (Y3) is $0.90 per share.
To calculate the dividends per share for the common stock in year 1 (Y1) and year 3 (Y3), we need to determine the total dividends distributed and divide them by the number of common shares outstanding.
Given information:
Cumulative preferred stock: 15,000 shares, 1% dividend
Common stock: 50,000 shares, $30 par value
Dividends distributed:
Y1: $30,000
Y2: $12,000
Y3: $45,000
First, let's calculate the dividends per share for the cumulative preferred stock in each year.
Dividends per share for cumulative preferred stock = (Par value * Dividend rate) / Number of preferred shares
Dividends per share for cumulative preferred stock = ($100 * 1%) / 15,000 shares
Dividends per share for cumulative preferred stock = $1 / 15,000
Dividends per share for cumulative preferred stock = $0.000067 per share
Now, let's calculate the dividends per share for the common stock in year 1 (Y1) and year 3 (Y3).
For Y1:
Total dividends for common stock = Dividends distributed - (Dividends per share for cumulative preferred stock * Number of preferred shares)
Total dividends for common stock = $30,000 - ($0.000067 * 15,000)
Total dividends for common stock = $30,000 - $1.005
Total dividends for common stock = $29,998.995
Dividends per share for common stock in Y1 = Total dividends for common stock / Number of common shares
Dividends per share for common stock in Y1 = $29,998.995 / 50,000 shares
Dividends per share for common stock in Y1 = $0.5999799 per share (rounded to $0.60 per share)
For Y3:
Total dividends for common stock = Dividends distributed - (Dividends per share for cumulative preferred stock * Number of preferred shares)
Total dividends for common stock = $45,000 - ($0.000067 * 15,000)
Total dividends for common stock = $45,000 - $1.005
Total dividends for common stock = $44,998.995
Dividends per share for common stock in Y3 = Total dividends for common stock / Number of common shares
Dividends per share for common stock in Y3 = $44,998.995 / 50,000 shares
Dividends per share for common stock in Y3 = $0.8999799 per share (rounded to $0.90 per share)
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Explain Theory X and Theory Y management styles.
Answers
Whereas Theory X emphasizes the necessity of increased monitoring, outside rewards, and penalties, Theory Y emphasizes the significance of job pleasure as a motivator and encourages employees to approach jobs without direct supervision.
What is management theory X?The foundation of Theory X management is the idea that employees lack ambition and intrinsic motivation. Managers provide motivation by closely monitoring employees' work and ensuring that it was done appropriately.
What do Theories X and Y mean?Management theories created by Douglas McGregor include Theory X and Theory Y. Theory X is predicated on the notions that workers are unmotivated, lack motivation, only labor for compensation, and require continual supervision. Theory Y is predicated on the notions that workers desire employment, desire to assume responsibility, and do not require much supervision.
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Click FINISH and then END TURN to review your choices. If you are happy, click YES - END TURN to see how you did. If you are not happy with your choices, click NO - REVISE STRATEGY and make any changes. After you made your changes, again END TURN and then YES - END TURN to find out how you did.
Answers
The process of decision-making involves the identification of a problem, setting goals, identifying alternatives, evaluating these alternatives, and then selecting the best alternative.
In this regard, it is essential to develop and implement an effective strategy. Once you have identified the alternatives and evaluated their effectiveness, it is essential to review your choices. To do this, you need to click FINISH and then END TURN. This will enable you to review the alternatives and evaluate their effectiveness. If you are happy with your choices, click YES - END TURN to see how you did. If you are not happy with your choices, click NO - REVISE STRATEGY and make any changes.
After you have made your changes, you need to END TURN and then click YES - END TURN to find out how you did. To develop an effective strategy, it is essential to evaluate the alternatives and identify the most effective alternative. This involves identifying the strengths and weaknesses of each alternative and then selecting the most effective alternative. It is also essential to set realistic goals and identify the resources needed to achieve these goals. This will enable you to develop a strategy that is achievable and effective.
To ensure the success of your strategy, it is essential to monitor and evaluate your progress regularly. This will enable you to identify any problems and make any necessary adjustments. It is also essential to communicate your strategy to all stakeholders and ensure that everyone is working towards the same goals. This will help to ensure that everyone is working towards the same objectives and that the strategy is effective.
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Wally's Walleyes wants to introduce a new product that has a start-up cost of $7,800. The product has a 2-year life and will provide cash flows of $4,500 in Year 1 and $4,300 in Year 2. The required rate of return is 15 percent. Should the product be introduced? Why or why not?
Answers
The calculated NPV is negative, indicating that the present value of expected cash flows does not exceed the start-up cost of the project. In other words, the project is expected to generate a net loss.
To determine whether Wally's Walleyes should introduce the new product, we can calculate the net present value (NPV) of the project. The NPV measures the present value of expected cash flows, taking into account the required rate of return.
To calculate the NPV, we need to discount the cash flows using the required rate of return (15 percent). The formula for calculating NPV is:
NPV = Cash Flow Year 1 / (1 + Required Rate of Return)^1 + Cash Flow Year 2 / (1 + Required Rate of Return)^2 - Start-up Cost
\(NPV = $4,500 / (1 + 0.15)^1 + $4,300 / (1 + 0.15)^2 - $7,800\)
\(NPV = $4,500 / 1.15 + $4,300 / (1.15)^2 - $7,800\)
NPV = $3,913.04 + $3,537.41 - $7,800
NPV = -$350.55
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Which of the following statement is correct?
a. firms in monopoly can sell non-commodities while firms in monopolistic competition cannot.
b. firms in monopoly can sell a commodity while firms in monopolistic competition cannot.
c. firms in monopoly are price setters while firms in monopolistic competition are not.
d. firms in monopoly can make economic profit in the short run while firms in monopolistic competition cannot.
Answers
Answer:
the correct answer I to this question is c
The factor of 'Land' includes more than just farming. Explain this statement.
Answers
The Four Factors of Production
Briefing:-Land is both a geographic location and a source of natural resources (examples: water, timber, oil).
Workers are those who can convert raw materials into commoditized commodities or services.
Capital refers to a company's physical assets and the funds it employs to acquire resources.
Why is land deemed to be the most crucial component of production?The key producing factor is thought to be land. The land is abundant in coal, water, and petroleum, all of which are used to produce electricity. Building factories and industries to conduct the production process requires land.
What aspect of agricultural production is most crucial?One of the most crucial elements in the development of crops is soil fertility [10]. It can sustain crop production depending on the full range of its physical, chemical, and biological characteristics.
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What is ethical behavior?
Answers
Answer: Ethical behaviour includes activities which are in conformity with the values and principles of morality such as honesty, fairness or respect for others. It is about making decisions and doing things in a way which are morally and legally acceptable, considering the consequences of one's actions for society as a whole.
:
Which is NOT a benefit of family members sharing household responsibilities?
OA.
Household responsibilities can be completed in less time
OB. Family members spend more time outside exercising
O C. Family members feel united in keeping the house running smoothly
OD
Children can learn responsibility as they help around the house
Answers
Answer:
B. Family members can spend more time outside exercising
Explanation:
This has nothing to do with household responsibilities
Question 2 of 20
Lexi wants to open an account where she can access the funds she needs to
pay her rent and other bills any time she wants. Which type of account would
be the best option for Lexi?
OA. A checking account
OB. A certificate of deposit
OC. A savings account
D. A money market account
SUBMIT
Answers
The best option for Lexi, who needs access to funds anytime she wants to pay her rent and other bills, would be a checking account (option A).
Checking accounts offer features such as check writing, debit card usage, and online banking, allowing Lexi to conveniently and quickly access her money whenever needed. With a checking account, she can easily pay bills by writing checks or using electronic payment methods.
In contrast, options B and C, a certificate of deposit (CD) and a savings account, respectively, may not be the best fit for Lexi's immediate needs. A CD typically requires the funds to be locked in for a specified period of time, usually ranging from a few months to several years, with limited or no access to the funds until the maturity date.
Option D, a money market account, is another viable choice for Lexi. Money market accounts often offer higher interest rates than traditional savings accounts, and they also provide check-writing and debit card capabilities. However, some money market accounts may have minimum balance requirements or limitations on the number of transactions.
Option A.
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Gina borrows from Regional Loan Company the funds to buy a car. The car secures the debt. Gina defaults on the loan. Regional takes possession of the car, planning to sell it to recover some of the unpaid debt. Before the creditor sells the car or enters into a contract for its sale, Gina can pay what she owes and take back the car. This is
Answers
Answer:
right of redemption allows delinquent borrower to reclaim property if they are able to repay their obligations in time.
Ato Abebe insured his car worth of Br. 500,000 in two insurance companies: Ethiopian Insurance Corporation and Awash Insurance Company for Br 300,000 and Br. 200,000 respectively. While the policy is in force the car was damaged due to collusion done intentionally by Kebede. The loss is estimated to be Br. 200,000.
Answers
Ethopian Insurance Corporation will pay 60% of the damage while Awash Insurance Company will pay 40% of the damages.
From the calculation, Ato can claim the total loss of Br. 200, 000.
Ato can claim damages from Kebede and claim insurance from the insurance company.
How to Solve the Problem?Ethiopian Insurance Corporation: The Insurance plan esteem given by this company is Br 300,000, which is 60% of the overall insurance plan esteem (Br 500,000). In this manner, it will pay 60% of the misfortune.Awash Insurance Company: The insurance given by this company is Br 200,000, which is 40% of the overall guarantor esteem. In this manner, Awash Insurance Company will pay 40% of the misfortune.Calculating the amount to be paid by the insurance company, we have:
Ethiopian Insurance Company : 60% of the misfortune (Br 200,000) = Br 120,000Awash Insurance Company: 40% of the misfortune (Br 200,000) = Br 80,000Therefore, Ato can claim the entire Br. 200, 000 loss.
Complete Question Below:
Ato Abebe insured his is car worth of Br 500,000 in two insurance companies; Ethiopian insurance corporation and Awash insurance company for Br 300,000 and Br 200,000 respectively. While the policy in force is in car was damaged due to collusion done intentionally by kebede. The loss is estimated to Br 200,000.
Required
1. How much is each insurance company is going to pay Ato ?
2. How much is Ato Abebe going claim?
3. Ato has an intention to claim compensation from the two insurance company and Daniel kebede at the same time. Advise him. what he/she should does?
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who has better abs 1 or 2?
Answers
Answer:
1
Explanation:
They just look more... real???
Answer:
Lm.ao what
Explanation:
Ig the second one lol
Which scenario holds true when a tariff is applied to an imported item? A. both domestic and foreign consumers pay the same price B. domestic consumers of the imported item pay a higher price C. foreign consumers of the imported item pay a higher price D domestic consumers of the imported itern pay a lower price
Answers
Answer:
i would say b, the domestic pay more.
Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?
Answers
The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.
How to find the manufacturing costs ?Direct materials (Assembly + Testing & Packaging) = $375 + $39
= $414
Direct labor (Assembly + Testing & Packaging) = $168 + $84
= $252
Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126
= $442
Total manufacturing cost = $414 + $252 + $442
= $1110
Unit product cost = Total manufacturing cost / Number of units
= $1110 / 10
= $111.00
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Submission Requirements Hurry Pls Help ASAP!!!
Nine hundred word response.
When submitting written assignments, please remember to:
Submit the assignment question(s) and your responses.
Proofread for spelling, grammar, and punctuation.
Remember complete sentence structure.
Paragraphs need to have minimum of six sentences.
Submit your E.T.H.I.C.S. model of one of the provided scenarios.
Answers
When submitting written assignments, please remember to Proofread for spelling, grammar, and punctuation. Hence, option B is correct.
What is meant by Proofread?Proofread is the double-checking of the written assignment or the work that is being already done to the person. It helps the person to identify the little mistakes that they have made during the making of the assignment.
Proofread is always a better solution to understand the work and makes the work complete and perfect. After Proofread, one can identify their mistakes and make them correct.
Thus, option B is correct.
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An experiment requires participants to quickly determine if a target is present. Which of the following tasks is likely to produce the longest reaction time?
Identifying a blue vertical line in a field of red vertical lines
.
Identifying a red vertical line in a field of small red circles and blue horizontal lines
.
Identifying a red vertical line in a field of red horizontal and blue vertical lines
.
Identifying a small red circle in a field of medium and large red circles
Identifying a red vertical line in a field of red horizontal and blue vertical lines
Answers
Because it needs more processing time and visual search than the other alternatives, participants are likely to take the longest to react while searching for a blue vertical line within a field of red vertical lines
A line that is vertically oriented and has the colour blue is referred to as a "blue vertical" in terms of aesthetic features. One of the fundamental colours of the additive colour system, which is used in digital displays and colour printing, is the blue hue of the line, which is generally connected to a particular wavelength of light. In a two-dimensional coordinate system, a line that is vertically oriented is one that is parallel to the y-axis and perpendicular to the horizontal axis. A number of disciplines, including computer graphics, vision science, and the arts, may find use for the idea of blue vertical.
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Use the diagram below to answer the following questions. Assume an initial market price of $5.
a. Identify the initial area of producer surplus (PS1) when the market price is $5. Next, assume that demand decreases and the market price falls to $4. Draw the new demand curve and then identify the new area of producer surplus (PS2).
Instructions: (1) Use the tool provided 'PS1' to identify the initial area of producer surplus. This will drop a small triangle with three endpoints onto the graph. Drag the endpoints to the appropriate position to identify the initial area of producer surplus. (2) Then use the tool provided 'D2' to draw the new demand curve. (3) Use the tool provided 'PS2' and follow the same process as above to identify the second area of producer surplus.
b. As a result of the lower price, producer surplus
falls by more than $40
rises by less than $40
rises by more than $40
falls by less than $40
Answers
It is to be noted that the area of producer surplus (PS1) when the market price is $5. is indicated in the attached graph. The new demand curve and the new area of producer surplus are also drawn and identified therefin.
As a result of the lower price, the producer surplus is: fallen by less than $40.
What is producer surplus?The difference between the amount the producer is willing to supply items for and the actual amount he obtains when he does the deal is known as producer surplus. Producer surplus is a metric of producer well-being.
The computation for the producer surplus is give as follows:
For PS1 = 0.5 (9-5)(40)
= $80
PS2 = 0.5(7-4)(30)
=$45
Hence,
Fall in Producer surplus = $80-$45
PS = $35
Thus, it is correct to state that PS < $40.
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Which of the following should be considered last when searching for financing? Question 6 options: Family members Banks Commercial finance companies Credit cards
Answers
Answer:
Credit cards
Explanation: