i) Total Revenue,Profit = ((16.8 x 20.24) + (9.50 x 9.03)) - (35 + 400) = 300.16 GHC
ii) The advice in respect of practicing price discrimination or selling a uniform price depends on the elasticity of demand of the two markets. A firm can practice price discrimination if it has monopoly power and if each market has a different elasticity of demand.
iii) By implementing price discrimination, the company can increase its revenue as it can sell more units of the product in the Nima market by reducing the price to match the higher elasticity of demand in that market while charging a higher price in the East Legon market with less elasticity of demand.
i. The profit that Majjus Enterprise will make with and without price discrimination is as follows;Without price discrimination, the company will set a uniform price (P) for both markets. Since the firm is a monopolist, it can control the price to achieve its maximum profit, thus we can calculate the profit using the formula;
TR = Total Revenue = P x Q whereQ = Q₁ + Q₂
Total Revenue (TR) = P(Q₁ + Q₂)Total Cost (TC) = 35 + 400Profit = TR - TCFor East Legon Market;Q₁ = 24 - 0.2P, substituting this into Q gives;Q = Q₁ + Q₂ = (24 - 0.2P) + 10 - 0.05P = 34 - 0.25PPutting the equation for Total Revenue into the equation for Profit;
Profit = TR - TC = P(Q₁ + Q₂) - (35 + 400)Profit = P(34 - 0.25P) - 435To get the profit maximizing price, we differentiate the Profit equation with respect to P and equate to zero;dProfit/dP = 0 = 34 - 0.5P → P = 68/5
Substituting this back into the Profit equation to get the profit,Profit = (68/5)(34 - 0.25(68/5)) - 435= GH¢ 270.80With price discrimination, the company can set different prices for both markets as each market has different elasticity of demand. The profit maximizing strategy here is the third-degree price discrimination where different prices are set for each market.
For the East Legon market, the price is set at P = 16.8 while the price for the Nima market is P = 9.50.The Profit will be calculated as follows;Total Revenue (TR) = (P₁ x Q₁) + (P₂ x Q₂)
Total Cost (TC) = 35 + 400Profit = TR - TCFor East Legon market;P₁ = 16.8 and Q₁ = (24 - 0.2P) = (24 - 0.2(16.8)) = 20.24For Nima market;P₂ = 9.50 and Q₂ = (10 - 0.05P₂) = (10 - 0.05(9.5)) = 9.03Putting the values into the equation for Total Revenue,Profit = ((16.8 x 20.24) + (9.50 x 9.03)) - (35 + 400) = GH¢ 300.16
ii. The advice in respect of practicing price discrimination or selling a uniform price depends on the elasticity of demand of the two markets. A firm can practice price discrimination if it has monopoly power and if each market has a different elasticity of demand.
The higher the elasticity of demand, the higher the ability of consumers to substitute the product and vice versa. Therefore, if the difference in elasticity of demand in both markets is significant, the company should practice price discrimination. However, if the elasticity of demand for both markets is the same, it will be better for the firm to sell at a uniform price.
iii. In this case, the company can implement the third-degree price discrimination where different prices are set for each market. The pricing policy to implement in each market is as follows;East Legon Market: Price (P) = 16.8Nima Market: Price (P) = 9.50The price is higher in the East Legon market since the demand is more inelastic and lower in the Nima market where the demand is more elastic.
By implementing price discrimination, the company can increase its revenue as it can sell more units of the product in the Nima market by reducing the price to match the higher elasticity of demand in that market while charging a higher price in the East Legon market with less elasticity of demand.
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in a partnership, loans taken out by the general partners question 2 options: are null and void. are binding on the limited partners. aren't a liability of either the general or limited partners aren't binding on the limited partners.
In a partnership, loans taken out by the general partners are not a liability of either the general or limited partners and aren't binding on the limited partners.
In a partnership, the general partners have the authority to borrow money on behalf of the partnership. However, the legal liability for the partnership's debts and obligations rests with the partnership as a separate entity, not with the individual partners.
This means that loans taken out by the general partners are not the personal liability of either the general or limited partners. The general partners are personally liable for the loans they take on behalf of the partnership, while the limited partners are not. Limited partners generally have limited liability, meaning their liability is restricted to the extent of their capital contributions to the partnership.
The limited partners are not bound by the loans taken out by the general partners unless they have explicitly agreed to assume personal liability for the partnership's debts. Otherwise, the loans remain the responsibility of the general partners and do not impact the limited partners' personal liability or financial obligations.
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The winner of a $140 million lawsuit, terry bollea is better known by what name?.
T/F. from the study of behavioral finance, we have learned that limited attention bias can explain why minority groups face frictions in accessing financial resources.
It is true that from the study of behavioral finance, we have learned that limited attention bias can explain why minority groups face frictions in accessing financial resources.
From the study of behavioral finance, we have learned that limited attention bias can explain why minority groups face frictions in accessing financial resources. Limited attention bias refers to the tendency of individuals to focus their attention on a limited set of information or choices, while ignoring other important information or options.
Minority groups may face frictions in accessing financial resources due to limited attention bias in several ways. For example, they may be less likely to be aware of the financial products and services available to them or may have difficulty navigating complex financial systems. Additionally, they may be more likely to face discrimination or biases from financial institutions, which can further limit their access to financial resources.
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1. Four electricians are discussing special requirements for health care facilities. Electrician A says that a nursing home is required to include an emergency system circuit. Electrician B says that GFCI outlets are required in the bathroom area of some critical-care patient rooms. Electrician C says that a nursing home is not required to include an emergency system circuit. Electrician D says that GFCI outlets are required in the bathroom area of the critical-care patient rooms. Which of the following statements is correct?
A. Electrician C is correct.
B. Electrician A is correct
C. Electrician D is correct
D. Electrician B is correct.
2. Four electricians are discussing wiring under raised floors in information technology equipment rooms. Electrician A says that wiring under the raised floor requires fire-resistant walls, floors, and ceilings between other occupancies. Electrician B says that wiring under the raised floor requires fire resistant halfway up the walls and floors between other occupancies. Electrician C says that the room must employ a disconnecting means that removes half of the power to all equipment in the room. Electrician D says that a disconnecting means isn't necessary for the room. Which of the following statements is correct?
A. Electrician B is correct.
B. Electrician C is correct.
C. Electrician D is correct.
D. Electrician A is correct.
3. Five electricians are discussing grounding. Electrician A says that 6" of an 8' rod or pipe electrode is allowed to extend above the finished grade. Electrician B says that a "made" grounding electrode constructed from copper rod that’s 5/8" in diameter and 100" long is acceptable per the NEC. Electrician C says that 6" of a 16' rod or pipe electrode is allowed to extend above the finished grade. Electrician D says that a "made" grounding electrode constructed from copper rod that's 5/8" in diameter and 50" long is acceptable per the NEC. Which of the following statements is correct?
A. Electrician C is correct.
B. Electrician B is correct.
C. Electrician D is correct.
D. Electrician A is correct.
4. Where resistance to ground of a single-made electrode exceeds 25 ohms,
A. additional electrodes must be added until the resistance to ground is lower than 25 ohms.
B. the electrode can be omitted.
C. no additional electrodes are required.
D. one additional electrode must be added.
5. According to the NEC, what type of threadless connectors and couplings must be used with rigid metal conduit if installed in masonry?
A. Rain tight.
B. Concrete tight.
С. Weatherproof.
D. Wet/damp listed.
6. Four electricians are discussing NEC requirements for common appliances.
Electrician A says that new, cord-and-plug, single-phase room A/C units must have factory-installed LCDI or AFCI protection. Electrician B says that the cord for a household refrigerator must be visible and readily accessible to be used as a disconnect switch. Electrician C says that the cord and plug don't have to be new. Electrician D says that an old cord with a spliced new plug can be used. Which of the following statements is correct?
A. Electrician A is correct.
B. Electrician B is correct.
С.Electrician C is correct.
D.Electrician D is correct.
7. Four electricians are discussing switchboards and panelboards. Electrician A says that switchboards and panelboards must provide front and rear access to meet accessibility requirements. Electrician B says that unused circuit breakers mounted in a panelboard should not be identified on the circuit directory until they're actually connected for a circuit application. Electrician C says that switchboards can be installed in cabinets. Electrician D says that switchboards aren't intended to be installed in cabinets. Which of the following statements is correct?
A. Electrician C is correct.
B. Electrician D is correct.
C. Electrician A is correct.
D. Electrician B is correct.
8. Four electricians are discussing the installation of a luminaire in a clothes closet.
Electrician A says that because the clothes-hanging rod is located five inches from the ceiling, the light fixture that's to be mounted directly over the rod must be recessed.
Electrician B says that a surface-mounted incandescent fixture must be placed at least six inches from the storage area. Electrician C says that a surface-mounted incandescent fixture must be placed at least 12 inches away from the storage space. Electrician D says that a surface-mounted incandescent fixture must be placed at least nine inches away from the storage space. Which of the following statements is correct?
A. Electrician B is correct.
B. Electrician A is correct.
С. Electrician C is correct.
D. Electrician D is correct.
The correct options are
B. Electrician A is correct.
D. Electrician A is correct.
B. Electrician B is correct.
A. Additional electrodes must be added until the resistance to ground is lower than 25 ohms.
B. Concrete tight.
A. Electrician A is correct.
C. Electrician A is correct.
A. Electrician A is correct.
What are electricians?Generally, An electrician is a skilled laborer who specializes in the electrical wiring of structures, transmission lines, stationary machinery, and other apparatus that is connected to the field.
Installing new electrical components, repairing and maintaining existing electrical infrastructure, and maintaining and repairing existing electrical infrastructure are all possible jobs for electricians.
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2008 1 Mar Started business with $1,000 cash.
credit or debit
Answer:
The cash a/c is debited as it is an asset for the business and the capital a/c is credited as it is a liability for the business according to the business entity concept.
The Galindo family plans to start a small business in our neighborhood. The father
borrows $10,000 from the bank at an annual interest rate of 7.5% rate for 42
months. What is the amount of interest he will pay on this loan?
$26.25
$26,250
$262,500
$2,625
Answer:
$2,625
Explanation:
Interest is calculated using the formula
I = p x r x t
For Galindo family
I= interest,
P = principal amount : $10,000
r= Interest rate: 7.5 % or 0.075
t= times in years : 3.5 years( 42 months /12)
I= $10,000 x 0.075 x 3.5
I=750 x 3.5
I=$2,625
Overview The final project for this course is a retrospective that identifies the "lessons learned" from the Scrum Team's product-development process. For assistance with writing this final retrospective, you will reflect on your thoughts in journal assignments as you take on the various roles on the Scrum Team. Prompt In this third journal assignment, you will think about your work as the product tester for the travel booking software and how you interpret the user stories to develop test cases. Consider the following questions to guide your journal assignment: What elements of the user stories were the most helpful in developing your initial test cases? What was missing from the user stories that would have been helpful? How might you go about getting this additional information? Create a sample email that would effectively relate your needs and prompt a proper response. Be sure to identify the recipient of the communication and the specific information you expect to receive.
The user stories provided valuable information for developing initial test cases, but the missing acceptance criteria hindered the testing process. To address this, I would email the product owner or business analyst to request clarification on the acceptance criteria.
The user stories served as a helpful foundation for test case development, but the absence of acceptance criteria created a gap in understanding the desired outcomes. To bridge this gap, reaching out to the relevant person through an email would be an effective way to request additional information. The email would highlight the importance of clarity in acceptance criteria and express the need for specific details to enhance the testing process.
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When banks have less money in required reserves they lend more money out to people and business. So Lower reserves usually help do what to the economy?
Answer:
Lower reserves increase the money supply in the economy.
Banks can either keep deposits in reserves or give them out as loans.
the lower the reserve ratio, the higher the money multiplier and the higher the money supply.
Lowering the reserves can be a form of expansionary monetary policy
Explanation:
Fractional banking is a banking system where a portion of customer's deposits is kept as reserves while remaining portion is lent out. The amount kept as reserves is determined by the required reserve ratio set by the Central bank.
If the required reserve ratio is 10% and $100 is deposited, reserves would be $10 and $90 would be lent out
Increase in the total value of checkable deposit is determined by the money multiplier
Money multiplier = 1 / reserve requirement
Increase in value of total deposit = amount deposited / reserve requirement
Assume 100 is deposited in a bank and the reserve requirement is 10%
Increase in value of total deposit = 100 / 0.1 = 1000
Imagine that the reserve is reduced to 5%
Increase in value of total deposit = 100 / 0.05 = 2000
reducing the reserve requirement increased the value of total deposit and thus the money supply in the economy
What is the job outlook for a US postal worker? The career is growing and will provide more opportunities over time. The career is growing and will provide fewer opportunities over time. The career is shrinking and will provide more opportunities over time. The career is shrinking and will provide fewer opportunities over time.
Answer: The career is shrinking and will provide fewer opportunities over time.
Explanation: Yes
There is a decline of 9% from 2020 to 2030 in US postal worker. So the postal worker career is shrinking and will have fewer employment opportunities.
What is the current status of job outlook for a US postal worker?In general work of postal assistance laborers is projected to decline 9% from 2020 to 2030. Despite this, there is around 31,900 openings each year.
By using the above data it can be said that the postal worker career is shrinking and will provide fewer employment opportunities in future time.
Therefore, option d aptly decribes the current status of job outlook for a US postal worker.
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Production is not complete Until goods
reaches the final Consumer Explain
Answer:
B. goods reached the final consumer
Multiple-choices
A. goods gets to the wholesaler
B. goods reached the final consumer
C. factors of production are combined
D. goods are ready for transportation
E. wholesalers ask the firms to produce
Explanation:
Like all other businesses, a firm that produces goods for sale is driven by profit motives. The producer's main objective is to make goods that satisfy the customer's need and make profits. For this objective to be met, the producer must find a way of getting the goods to the consumer.
A marketing distribution channel or the distribution channel is the avenue producers use to deliver their products to final consumers. The channel has businesses ranging from distributors, wholesalers to retailers. The retailer is the final trader who sells directly to consumers. It is the consumer that pays the price for the goods, thereby earning the producer their profits.
3. Which of the following is NOT an example of a violation of professional ethics?
Coming to a school activity after participating in happy hour with colleagues is not an example of a violation of professional ethics.
What is professional ethics?Professional ethics encompass the personal and corporate standards of behaviour expected of professionals. The word professionalism originally applied to vows of a religious order. By no later than the year 1675, the term had seen secular application and was applied to the three learned professions, they are divinity, law, and medicine. The term professionalism was also used for the military profession around this same time.
Professionals and those working in acknowledged professions exercise specialist knowledge and skill. The use of this knowledge should be governed when providing a service to the public can be considered a moral issue and is termed professional ethics. It is capable of making judgments, applying its skills, and reaching informed decisions in situations that the general public cannot because they have not attained the necessary knowledge and skills.
One of the earliest examples of professional ethics is the Hippocratic oath to which medical doctors still adhere to this day.
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a large, expensive application that is used by every department within the organization is a(n) system
A large, expensive application that is used by every department within the organization is an inter-organizational system.
An inter-organizational system is a system of cooperation between two or more organizations. In this system, the organizations share a database, new talents, and assets that prove to be beneficial in a competitive market. Collaborative efforts between the organizations give rise to enhanced production, low cost of production, large market share, and expansion of products into the global market.
Interorganizational system improves supply chain management as the work is handled by various organizations. It also helps in the expansion of business in geographically diverse areas with the help of online marketing.
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if $609,000 of 9onds are issued at 94, the amount of cash received from the sale is
The amount of cash received from the sale of $609,000 bonds issued at 94 can be calculated.
To determine the amount of cash received from the sale, we need to calculate the actual amount received based on the bond issuance price of 94% of the face value.The face value of the bonds is $609,000. Since the bonds are issued at 94% of the face value, the calculation would be:
Amount of cash received = Face value of bonds * Issuance price
Amount of cash received = $609,000 * 0.94
To calculate the amount, we multiply the face value by the issuance price expressed as a decimal.Therefore, the amount of cash received from the sale of the bonds would be:
Amount of cash received = $609,000 * 0.94 = $572,460
Thus, the amount of cash received from the sale of the $609,000 bonds issued at 94 is $572,460.
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marian corporation has two separate divisions that operate as profit centers. the following information is available for the most recent year: black division navy division sales (net) $400,000 $350,000 salary expense 23,000 43,000 cost of goods sold 140,000 154,000 the black division occupies 22,000 square feet in the plant. the navy division occupies 33,000 square feet. rent is an indirect expense and is allocated based on square footage. rent expense for the year was $55,000. compute departmental income for the black and navy divisions, respectively. (do not round your intermediate computations)
To compute departmental income for the black and navy divisions, we need to first allocate the indirect expense of rent based on square footage. The black division occupies 22,000 square feet out of the total 55,000 square feet (22,000 + 33,000), which is 40% of the total square footage.
Therefore, the black division's share of rent expense is $22,000 (40% x $55,000). The navy division occupies 33,000 square feet, which is 60% of the total square footage. Therefore, the navy division's share of rent expense is $33,000 (60% x $55,000).
Using this information and the given figures for sales, salary expense, and cost of goods sold, we can calculate the departmental income for each division.
- Black division:
Net sales: $400,000
Cost of goods sold: $140,000
Gross margin: $260,000
Salary expense: $23,000
Rent expense: $22,000
Departmental income: $215,000 ($260,000 - $23,000 - $22,000)
- Navy division:
Net sales: $350,000
Cost of goods sold: $154,000
Gross margin: $196,000
Salary expense: $43,000
Rent expense: $33,000
Departmental income: $120,000 ($196,000 - $43,000 - $33,000)
Therefore, the departmental income for the black and navy divisions are $215,000 and $120,000, respectively.
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what is the industry that william hartung sees as being instrumental in understanding war? would his analysis fit properly within class system theory? why or why not?
The industry that William Hartung sees as being instrumental in understanding war is the military-industrial complex. His analysis would fit properly within the class system theory because class system theory explains the social class structure and how the upper class maintains its dominance and privileges over the lower class.
William Hartung sees the military-industrial complex as being instrumental in understanding war. The military-industrial complex (MIC) refers to the relationship between a country's military and the defense industry that produces the equipment and services that enable the military to operate.
William Hartung's analysis would fit properly within the class system theory. The class system theory explains the social class structure and how the upper class maintains its dominance and privileges over the lower class. The complex is comprised of those in the upper classes that benefit financially from war and its production, while the lower classes bear the brunt of the cost.
The military-industrial complex is a powerful entity that has strong political influence, and its members are part of the country's upper class, which maintains its dominance and privileges over the lower class. Therefore, William Hartung's analysis of the military-industrial complex and its political influence fits within the class system theory.
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An agent employed at First XYZ Securities produces his own research reports and provides them to a select group of personal clients. The agent has written permission from his employer to engage in this activity, provided the time spent on the project is conducted after working hours. Under the Investment Advisers Act of 1940, if the agent does not charge fees for the research but receives commissions from his employing broker-dealer for trades executed through the firm, A) the agent must register as an investment adviser representative B) the agent must register as an investment adviser because the research is being done after hours C) the broker-dealer must register as an investment adviser and the agent as an investment adviser representative D) neither the agent nor his employing broker-dealer need register as an investment adviser
Answer:
D) neither the agent nor his employing broker-dealer need register as an investment adviser
Explanation:
In the given scenario the agent produces his own research reports and provides them to a select group of personal clients.
He has permission from his employer to do this.
According to the Investment Advisers Act of 1940 the agent will only be excluded from being an investment advisor when he receives special compensation for giving investment advise.
Special compensation is when the agent is paid even when there are no transactions occuring.
In this case it's only when there is a transaction that the agent gets paid a commission. So this is not a special compensation.
As such neither the agent nor his employing broker-dealer need register as an investment adviser.
The amount transferred from work in process to finished goods is ______.
Answer:
Cost of goods manufactured
Explanation:
if you get paid biweekly how many paychecks in a month
Answer:
About 2 checks a month.
Explanation:
Biweekly means that a person is getting paid every 2 weeks. There are about 4 weeks in a month. So 4/2 = 2. The number of checks a person would get if they were paid biweekly.
Two paycheck each month are usual for those who are paid biweekly. Due to the fact that there are 26 biweekly periods and 52 weeks in a year, this is the case. If you receive your paychecks every two weeks, you will receive 24 paychecks in a year since there are 12 months in a year.
A paycheck, which can also be written as paycheque, pay check, or pay cheque, is often a paper document (a cheque) issued by an employer to reimburse an employee for services provided.
In recent years, computerized direct transfers to an employee's chosen bank account or funds paid loaded onto a payroll card have increasingly taken the role of paper paychecks.
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What should a company consider when choosing a celebrity to endorse its products? Explain.
Answer:
Explanation:
Celebrity endorsement on a product is vital in increasing brand recognition and having more customers and improvement in sales. Some of the things that should be considered when choosing a celebrity for endorsement of a product include:
1. Identification of their interest: It's vital for the celebrity to have thesame interest with the product to be endorsed. The brand should share the celebrities passion.
2. Their audience engagement should also be considered. It is vital to have celebrities that have a strong followership and large fanbase. This will help in driving ones sales.
3. Celebrities that are controversial and have negative history should be avoided. This can have a negative impact on ones product. For example, using a celebrity that is known to be a drug addict or have a vile lifestyle.
1.Opportunity cost is the cost of something in terms of giving up the next best thing?
True/False
2.Specialisation means making unique items for each customer?
True/False
Answer:
trueExplanation:
I took the test and got 100%
Question 27 pts OSHA, the Occupational Safety and Health Administration, has notified you that your company is legally required to install safety rails around the large vats of chemicals in your factory. You need to follow their order so that you are: Group of answer choices in compliance. licensed. insured. contracted.
Trisha is working on putting together pictures of all of the best wedding cakes that
she has decorated and designed throughout her culinary career. She is hoping this compilation will help her get a job at the catering company that she has been wanting to work at for years. What is Trisha putting together to show her potential employer?
A. portfolio
B. resume
C. work visa
D. letter of intent
Answer:
A. Portfolio Is the Anwser to the Question
Clubs, organizations, and CTSOs can help you narrow down what you want to do with the rest of your life.
True
False
Answer:
True
Explanation:
They lead to new experiences and if you like an experience maybe you'll like to do more of it in the future
The construction industry in Canada usually reflects a true picture of the demographic and economic condition of this country. The two largest provinces of Quebec and Ontario represent approximately 60% of the whole population of Canada; British Columbia and Alberta amount to 20% while the six other Canadian provinces make up the remaining 20%. In general, the distribution of construction work, as expressed by the value of total work to be performed, presents much the same pattern. Which of the following characteristic is not true in the Canadian construction industry:
a. Construction working conditions are applicable to the entire industry province-wide with obligatory union membership.
b. General or prime/main contractors assume responsibility for the coordination of construction activities and project completion whereas trade contractors perform work related to the various trades carried out by trade workers.
c. The management of on-site labour relations is pivotal as trade workers’ productivity improvement is a compelling, on-going goal of all construction contractors.
d. When the construction industry’s capacity is in a growth mode, there is tangible evident that the economy is healthy, and vice versa.
The characteristic that is not true in the Canadian construction industry is: Construction working conditions are applicable to the entire industry province-wide with obligatory union membership.
In Canada, construction working conditions are not applicable to the entire industry province-wide with obligatory union membership. While there are some provinces and territories in Canada that have mandatory union membership for certain industries, including construction, it is not the case for the entire construction industry in Canada. The rules and regulations regarding union membership in the construction industry can vary depending on the province or territory.
In some provinces, such as British Columbia, union membership may be required for certain public sector construction projects, but it is not mandatory for the entire industry. In other provinces, such as Alberta, union membership is not mandatory in the construction industry at all. Therefore, it is not true that construction working conditions are applicable to the entire industry province-wide with obligatory union membership.
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The ledger of cullumber company contains the following balances: owner's capital $ 30,700. owner's drawings $ 1,700, service revenue $ 49,000, salaries and wages expense $ 26,500, and supplies expense $ 6,100. prepare the closing entries at december 31. (credit account titles are automatically indented when amount is entered. do not indent manually. if no entry is required select "no entry for the account titles and enter for the amounts:) date account titles and explanation debit credit dec. 31 (to close revenue account) dec. 31 (to dose expense accounts) dec. 31 (to close net income (loss)) dec. 31
Net income that needs to be reclassed to retained earnings
Date General Journal Debit Credit
Dec 31 Income Summary 16,400
Retained Earnings 16,400
Now, According to the question:
Closing journal entries are recorded at the end of an accounting period to close out the income statement accounts for the year and move the net income to retained earnings. The income statement is a companies revenue, expenses, and net income for a year and then the balances are closed out and moved to the balance sheet. An account called income summary is used for the closing journal entries. This is a temporary account. Once the revenue and expenses are moved to the income summary account and closed out to 0 then the balance in the income summary account is moved to retained earnings on the balance sheet. Retained earnings appears in the equity section of the balance sheet . To close out service revenue we must debit revenue to decrease the balance to 0 and credit income summary.
Date General Journal Debit Credit
Dec 31 Service Revenue 49,000
Income Summary 49,000
To close out the salaries expenses account and the supplies expenses account we must credit and expense account to make the balance 0 and debit income summary.
Date General Journal Debit Credit
Dec 31 Income Summary 26,500
Salary and Wages
Expenses 26,500
The difference between revenue and expenses is the net income (loss) and will be the balance in the income summary account after the closing journal entries are made. The net income needs to be moved to the retained earnings account which appears on the balance sheet.
Date General Journal Debit Credit
Dec 31 Income Summary 6,100
Supplies Expenses 6,100
$49,000 - $26,500 - $6,100 = $16,400
Net income that needs to be reclassed to retained earnings
Date General Journal Debit Credit
Dec 31 Income Summary 16,400
Retained Earnings 16,400
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A baker requires bread to have a minimum of 80 units of butter, 15 units of sugar and 10 units of flour. Two bread mixes are available. Mix A contains 20, 2 and 1 units of the ingredients per kg, while Mix B contains 4, 1, 2 unites of the ingredients per kg, respectively. Mix A costs £18 per kg while Mix B coat £6per kg. 1. Write down the inequality constraints and the equation of the cost function.(2 marks) II. Determine the number of kg of each mix which provides the minimum ingredient requirements at the minimum cost. What's the minimum cost? (4 marks) D. Given the matrices: A = (2): B=(²9); c= (²- D=(): E = (67) 0 D. Given the matrices: A = 2 D=(); F = (87) Determine each of the following if possible. If not possible explain why not: I. BC II. BAT III. The determinant of D IV. The inverse of E (4 Marks) E. A supermarket records the weekly sales of wine in 3 of its outlets. The cost price for Value, Finest and core is $480, $600 and $1020 respectively. The total revenue for each shop is Shop AB - $604400; Shop CD=$642300; Shop EF= $267190. The number of wine sold in each of the outlet is given by the following table: Value Finest Core Shop AB 150 320 180 Shop CD 170 20 190 Shop EF 201 63 58 Calculate the total weekly profit for each shop. (5 marks).
The matrix operations can be performed based on the given matrices, but the determinant of matrix D cannot be determined as it is not a square matrix.
I. Inequality Constraints and Cost Function:
Let's define the decision variables as follows:
Let x be the number of kgs of Mix A used.
Let y be the number of kg of Mix B used.
The inequality constraints for the minimum ingredient requirements can be written as:
Butter constraint: 20x + 4y ≥ 80
Sugar constraint: 2x + y ≥ 15
Flour constraint: x + 2y ≥ 10
The cost function can be expressed as:
Cost = 18x + 6y
II. Determining the Minimum Ingredient Requirements at the Minimum Cost:
To find the minimum ingredient requirements at the minimum cost, we need to solve the system of inequalities and minimize the cost function. The solution lies at the intersection of the feasible region defined by the constraints.
To find this intersection point, we can solve the system of inequalities:
20x + 4y ≥ 80 (Butter constraint)
2x + y ≥ 15 (Sugar constraint)
x + 2y ≥ 10 (Flour constraint)
We can solve this system of inequalities by graphing or using a linear programming solver. The solution will provide us with the values of x and y that satisfy the constraints and minimize the cost function.
Once we have the values of x and y, we can substitute them into the cost function:
Cost = 18x + 6y
to find the minimum cost.
D. Matrix Operations:
I. BC (Product of matrices B and C):
To perform matrix multiplication, the number of columns in the first matrix should be equal to the number of rows in the second matrix. Since matrix B has 2 columns and matrix C has 2 rows, we can perform the multiplication.
II. BAT (Product of matrices B, A, and transpose of A):
To perform matrix multiplication, the number of columns in the first matrix should be equal to the number of rows in the second matrix. However, the number of columns in matrix A (2) does not match the number of rows in matrix B (3), so multiplication is not possible.
III. The determinant of D:
To find the determinant of a matrix, the matrix must be square. Matrix D is not a square matrix, so its determinant cannot be determined.
IV. The inverse of E:
To find the inverse of a matrix, the matrix must be square and have a non-zero determinant. Matrix E is a square matrix, but if the determinant is zero, the matrix does not have an inverse. To determine if E has an inverse, we need to calculate its determinant.
E. Total Weekly Profit for Each Shop:
To calculate the total weekly profit for each shop, we need to determine the revenue and subtract the cost price for each type of wine.
Let's calculate the profit for each shop:
For Shop AB:
Value wine profit = (Revenue - Cost) = (150 * $480) - $604400
Finest wine profit = (320 * $600) - $604400
Core wine profit = (180 * $1020) - $604400
For Shop CD:
Value wine profit = (170 * $480) - $642300
Finest wine profit = (20 * $600) - $642300
Core wine profit = (190 * $1020) - $642300
For Shop EF:
Value wine profit = (201 * $480) - $267190
Finest wine profit = (63 * $600) - $267190
Core wine profit = (58 * $1020) - $267190
By calculating the above expressions, you can determine the total weekly profit for each shop.
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100 points if you have the correct answer ^^
Assignment Introduction
Assume that you are involved in a job search. You are ready to construct an outstanding résumé to put before employers. You have carefully reviewed and documented your list of abilities, hard and soft skills, education, credentials, and past work experience (including volunteering). You have also considered your personality traits and job preferences. However, you have not narrowed your search to just one type of consumer services job, and you have seen several that interest you.
Assignment Directions
Using any or multiple sources (newspaper, trade or association publication, online job board, networking site, etc.), select two job listings. They must have very different job descriptions in different fields. For example, bookkeeping in a hospital and a customer service position in a retail setting. Using your own actual information, construct a general purpose résumé suitable for handing out in person. You may choose any format that is appropriate to your situation. Using the same information, build two more résumés, one each targeting the two different job descriptions and formatted to submit digitally/online.
Assignment Guidelines
Your submission must do the following:
Total three sheets; one typed page each for your basic and two targeted résumés
Include copies of your two chosen job descriptions as an attachment.
Each résumé must contain the following:
Your contact information
Educational background
Employment history, most recent to oldest (minimum 3 entries; if you do not have 3, you may make one up, as long as it is plausible and appropriate).
Accomplishments (two or three entries)
Special skills, including foreign languages spoken, as applicable
Submission Requirements
Proofread for spelling, grammar, and punctuation
Use complete sentence structure and standard written English; do not use texting abbreviations or other shortcuts
Source all references in a proper format
Your submission should include three sheets; one typed page each for your basic and two targeted résumés. The basic résumé should contain your contact information, educational background, employment history, accomplishments, and special skills.
What is education?Education is the process of acquiring knowledge, skills, values, beliefs, and habits. It is an important part of our life and it helps us to develop as individuals and to become better citizens. Education is an essential part of our society and it provides us with the necessary tools to grow and succeed.
The two targeted résumés should be tailored to the two job descriptions you have chosen, and should include the same information as the basic résumé. You should also include copies of your two chosen job descriptions as an attachment.
When writing your résumés, you should proofread for spelling, grammar, and punctuation, use complete sentence structure and standard written English, and source all references in a proper format.
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If a door to door salesman refuses to leave your front doorstep unless you buy a vacuum, this is a contract that can be invalidated because it was created under accusation. True or false
Answer: False
Explanation:
The above statement is false because it was not created under accusation. According to the question, the buyer wasn't accused of anything.
Rather, the contract can be invalidated because the contact was created under duress. The buyer was forced to buy it and was under duress as the seller refused to leave his house. Therefore, the contact can be invalidated.
Baxter is looking over his monthly budget. Specifically, he's considering the direct deposits that came through this week from his job with a biotech company and from the tenant who rents a small condo that he owns. What kind of money is Baxter reviewing?
A. income
B. inflation
C. personal risk
D. opportunity cost
Answer:
A, "Income"
Explanation:
Gradpoint
Bought goods
for
cash $100
to double
entry system.
Answer:Purchase account Dr.$100
cash account Cr.$100
Explanation: