The way organizations respond to consumer complaints is to collect the complaints they feel. then the organization can hold internal meetings to find solutions to the problems at hand.
Every customer-oriented organization needs to provide opportunities and easy and convenient access for its customers to submit their suggestions, criticisms, opinions, and complaints. Complaints are one part of the negative expression that results from the fact that reality does not match one's wishes. Consumer complaint behavior is a term that includes all the different actions consumers take when they are dissatisfied with a purchase or service.
Complaint categories are classified into four, namely:
a. Mechanical Complaints This type of complaint is caused by an error that occurs in the equipment in the restaurant. For example, a dead light in a restaurant, a broken table or chair, or an air conditioner that is not cold.
b. Attitudinal Complaint Types of complaints caused by staff or employees having a bad attitude in serving customers.
c. Service – Related Complaints This type of complaint is caused by poor service provided in a restaurant. For example, waiting too long for food or drinks that have been ordered, unavailability of cutlery on the table, and others.
d. Unusual Complaints Customers can also complain because there is no special room for non-smokers or because of the uncomfortable atmosphere in the restaurant.
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oahu kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. assume oahu kiki’s records show the following for the month of january. sales totaled 340 units.
Date Units Unit cost Total cost
Beginning inventory 1/1 220 85. $18,700
Purchase 15/1 480 95. 45,600
Purchase 24/1 200 115 23,000
cost & goods avail. for sale 900 $87,300
Units available for sale 900
Units sold 340
Number of units in ending inventory 560
Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO (b) LIFO and (c) weighted average cost methods?(a) FIFO will assume the sales comes from the oldest units, so the ending inventory will be valued at the cost of $115 & $95 per unit from the purchases:
Available for sale 900 units $87,300
Ending inventory 200 units x $115 per unit +
430 x $95 per unit $63,850
Cost of Goods sold 340 units $23,450
(b) LIFO will assume the sales comes from the newest units, so the ending inventory will be valued at the cost of $85 & $95 per unit from the beginning inventory and first purchase:
Available for sale 900 units $87,300
Ending inventory 220 units x $85 per unit +
410 x $95 per unit $57,650
Cost of Goods sold 340 units $29,650
(c) The weighted average method will assume that all transactions that place at the average price of $87,300 / 900 = $97:
Available for sale 900 units $87,300
Ending inventory 630 units x $97 per unit $61,110
Cost of Goods sold 270 units $26,190
Therefore, the correct answer is as given above.
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The complete question goes thus:
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method end each month, as if it uses a periodic inventory system. Assume Oahu records show following for the month of January. Sales totaled 340 units.
Date Units Unit cost Total cost
Beginning inventory January 1 220 85 $18,700
Purchase January 15 480 95 45,600
Purchase January 24 200 115 23.000
ron is an executive coach who wants to develop new training programs for customers and would like feedback from his staff and some of his key accounts. he is unsure if he should set up a podcast or a wiki to gather information.
The advantages of Ron using a wiki to gather this information is improving organization processes, increase in confidentiality, ease in navigation, agility to crowdsource, unlimited viewing.
What is Crowdsource ?
With crowdsourcing, a sizable number of scattered participants produce or provide goods or services, including ideas, votes, tiny chores, and money, for pay or as volunteers. Digital platforms are frequently used in modern crowdsourcing to draw participants and distribute work among them so that a final product may be achieved.
However, crowdsourcing is not just confined to online activity; there are several historical examples. Crowdsourcing is a combination of the words "crowd" and "outsourcing." In contrast to outsourcing, crowdsourcing typically incorporates broader, less-specific participant groups.
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winston baker will invest $25,000 in a spa that his sister is starting. he will triple his investment in six years. what is the rate of return that winston is being promised? (rounded to the nearest percent.)
Winston Baker will put $25,000 into his sister's new spa. In six years, he will have tripled his investment. Winston has been promised a 20% rate of return.
What is meant by Rate of returns?The annual rate of return is the percentage change in an investment's value. For instance, if you assume a 10% annual rate of return, you are assuming that the value of your investment will rise by 10% each year. A rate of return (RoR) is the net gain or loss of an investment over a given time period expressed as a percentage of the initial cost of the investment.When you calculate the rate of return, you are calculating the percentage change from the beginning to the end of the period. ROI is calculated by subtracting the initial cost of the investment from the final value, dividing the result by the cost of the investment, and finally multiplying it by 100.
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the firm that printed your textbook bought the paper from xyz paper mills. was this purchase of paper part of gdp? if not, how does the value of the paper get counted in gdp?
The purchase of the paper is not part of GDP. The value the paper adds to the textbook is counted in GDP.
What is GDP?
GDP is an abbreviation for gross domestic product. Gross domestic product is the sum of all the goods and services produced in a country in a given period which is a year.
Gross domestic product is used to measure the economic growth of a particular country. The higher gross domestic product is, the higher the standard of living and the higher economic growth is.
Intermediate goods are not included in the calculation of gross domestic product. Intermediate goods are the goods that are used in the production of goods and services. They are goods that are consumed directly by the end user. In this question, paper is an intermediate good.
The value of intermediate goods are still included in the Gross domestic product by means of the value added method.
For example, assume the cost of the paper is $100 and the price of the textbook is $150. The amount that would be included in GDP is $50 ($150 - $100).
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an asset that has a return distribution that is negatively skewed is of concern to investors because the incorrect use of the normal distribution to model it would the likelihood of large events.
Investors worry about an asset with a negatively skewed return distribution since using the normal distribution incorrectly to model it would significantly understate the possibility of major overestimate occurrences on the upside.
The correct option is A,B.
Which returns are distributed?The rules governing the economic system determine how returns on investments are distributed. In the essay, different return distributions are examined, including equilibrium equities securities, antiques purchased at auction, and debt instruments with a variable dividend.
Why is distribution rate important?In general, a distribution rate is derived by dividing the most recent amount paid to shareholders by the market price or the fund's NAV, then annualizing that number.
How is the distribution amount determined?The most recent distribution, which could have been interest, a special dividend, or indeed a capital gain, is used to calculate distribution yields, and it is multiplied by 12 to generate an annualized total. The distribution yield is then calculated by dividing the annualized total by the net asset value (NAV).
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I understand that the question you are looking for is:
An asset that has a return distribution that is negatively skewed is of concern to investors because the incorrect use of the normal distribution to model it would ______________ the likelihood of large ____________ events. (select all that apply)
A. underestimate; downside
B. overestimate; upside
C. underestimate; upside
D. overestimate; downside
in this discussion, focus on the decision-making models at the upper levels of management, as covered in chapter 10 of your text. management and leadership are two different things, but the roles are often performed by the same person. however, it is important to understand the difference between the two and how each concept helps the organization succeed. read what is the difference between management and leadership? as you read this article, think about the following questions, which may apply to the leader of the companies you have chosen to study for your final project (you do not need to answer these questions in the discussion thread; they are provided only for reading guidance): how do management and leadership complement each other within the organization? who are more likely to be the primary decision-makers, managers or leaders? in today's business world, do management and leadership go hand in hand? is it feasible that these roles are separate within an organization? now, think about a past decision that you made that did not work out the way you intended. in your initial discussion post, address the following: identify the decision-making model that you used at the time the decision was made, and explain why this was model was used. looking back at the decision, describe which two decision-making challenges may have led to the faulty decision and describe how that contributed to the results of your decision. be specific and include two decision-making challenges addressed in chapter 10.
Managing and leading are two complementary skills that are intertwined. It is impossible to separate one from the other. Managers plan, organize, and coordinate, whereas leaders inspire and motivate.
What is the difference between leadership and management?Management is the control of a group or set of entities in order to achieve a goal. Leadership is defined as an individual's ability to influence, motivate, and enable others to contribute to the success of an organization. Power and control do not differentiate leaders from managers; rather, leverage and provocation do. Leadership is about inspiring others to understand and believe in the company's vision and to collaborate with you to achieve your objectives. While management is more concerned with administration and ensuring that day-to-day operations run smoothly. The leader uses his charisma and influence to elicit the help and support of his followers in order to achieve goals. In management, the manager marshals the organization's human resources to complete tasks.To learn more about leadership, refer to:
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a country with a current account surplus multiple choice has imported more than it has exported. has borrowed heavily from the rest of the world. has exported more than it has imported. also has a capital account surplus.
A country with a current account surplus when the country has exported more than it has imported.
What causes a current account surplus?In comparison to a nation with lower inflation, the value of the currency declines. Exporters should therefore increase their exports when inflation is high. A current account becomes excess as a result. Weak domestic demand can occasionally result in current account surpluses for a nation.
What is the problem with a current account surplus?If a recession damaged domestic demand and reduced import spending, which in turn reduced spending on goods from abroad, a current account surplus could result in decreased domestic employment. A surplus results from declining exports and even greater declines in imports during a worldwide recession.
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if you are a marketer for a manufacturer, and the marketing mix for your product focuses on very specific market segments, you'd like to sell your product through
If you are a marketer for a manufacturer, and the marketing mix for your product focuses on very specific market segments, you'd like to sell your product through specialty stores.
A comprehensive marketing plan's marketing mix consists of many areas of emphasis. The phrase frequently alludes to a categorization system that was once known as the four Ps: product, pricing, placement, and promotion. The four Ps (product, pricing, placement, and promotion) of E. Jerome McCarthy are sometimes referred to as a marketing mix.
Instead than focusing on just one message, effective marketing covers a wide range of topics. By doing so, they may connect with a larger audience and better retain their focus on the important issues by remembering the four Ps. When releasing new goods or making changes to current ones, firms may make more informed decisions by concentrating on the marketing mix.
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your investment has a 20% chance of earning a 30% rate of return, a 50% chance of earning a 10% rate of return, and a 30% chance of losing 6% (-6% return). what is your expected return on this investment? your investment has a 20% chance of earning a 30% rate of return, a 50% chance of earning a 10% rate of return, and a 30% chance of losing 6% (-6% return). what is your expected return on this investment? 8.9% 9.2% 11.0% 12.8%
The Expected return on the investment = 9.2%.
The correct option is B.
What Return Can Be Expected?The anticipated profit or loss on an investment with known historical return rates is known as the expected return (RoR). It is calculated by dividing potential outcomes by their probability of occurring, adding the outcomes, and then deleting the outcomes.
According to the given data:probability of earnings = 0.2
rate of return = 30%
Probability of earning = 0.5
rate of return = 10%
Probability of losing = 0.3
rate of return. = -6%
Expected return on the investment = probability of earnings X rate of return + Probability of earning X rate of return + Probability of losing X rate of return.
Putting the value into formula:
Expected return on the investment = (0.2) X (30%) + (0.5) X (10%) + (0.3) X (-6%).
Expected return on the investment = 9.2%.
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Country a specializes in the production of rice because it can do so efficiently, but it imports electronics because it is not able to produce them as efficiently as the country they import from. What is this an example of?.
It's an example of, Factors such as domestic demand and domestic rivalry explaining nations' dominance in production.
Domestic demand forecast. Final domestic demand is the total of ultimate consumption, investment associate degreed stock building expenditures by the personal and general government sectors in real terms. Total Domestic Demand (TDD) is the Final Domestic Demand and the worth of physical changes in stocks. TDD contains several of the weather accustomed calculate Gross Domestic Product (GDP) by the Expenditure Method, and then it's an indicator of what proportion the economy as an entire is growing.
The total quantity of cash that's spent on merchandise and services by the people, companies, and government in a selected country, or that may be spent if the goods and services were available: increased/growing/falling domestic demand. A life of spending. Specifically, the total of ultimate consumption, investment, and stock-building expenditures, by each person and government sector.
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-A(n)---- another is described as moving money from one bank account to
Answers:
Deposit
ATM transaction
Transfer
Withdrawal
A(n)---- another is described as moving money from one bank account to ATM transaction.
What is the process of transferring money from one account to another known as?Money is sent from one account at Bank A to another at Bank B by a bank-to-bank transfer, sometimes referred to as an external transfer. External transfers that are electronic or use the internet can speed up the transfer of funds to a recipient by removing the need to transmit money physically between banks.
What is the name of a bank to bank transfer?Electronic funds transfers between banks are known as ACH transfers, or automated clearing house transfers. Find out the costs and how they operate at various institutions.
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which three of the following expenses can student aid cover
tuition
television
school supplies
parties and socializing
boarding/housing
Three of the following expenses that student aid can cover are
Tuition Supplies parties, and socializing Boarding/housing Option A,D,EThis is further explained below.
What is student aid?Generally, The term "student financial assistance" refers to any kind of support that is made available to students in the United States who are enrolled in an educational program at a post-secondary school located in the United States.
In conclusion, The purpose of this grant is to provide assistance in meeting the many expenses that are spent in the pursuit of postsecondary education.
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internal analysis, coupled with an analysis of the company's external environment, gives managers the information they need to choose the strategy that will enable their company to attain a sustained competitive advantage.
The statement is correct and holds its validity and truth in the sense that competitive advantage is attained when a company develops a strategy by looking inside its entity with a partial analysis of the external environment.
A corporation should first understand the function that resources play in establishing a competitive edge before analyzing the sources of competitive advantage to determine profitability while completing the internal analysis process.
The purpose of the internal analysis is the thorough investigation of a firm or company's internal components keeping the external environment in a context that helps the company decision makers to look at the growth and productivity through proper decision making.
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suppose that over time, the majority of people who read books shift toward reading on an electronic device as opposed to reading physical books. as a result, a number of bookstores go out of business. this leads to what type of unemployment?
Supposing that people who read books shift toward reading on electronic device, as opposed to reading physical books and this causes the number of bookstores go out of business, this scenario could lead to the type of unemployment known as a structural unemployment.
What is an structural unemployment?This form of unemployment is often a long term unemployment that comes about due to shifts in an economy. Its happens even though jobs are available, but there are mismatch between what companies need and what available workers offer.
Most often, the structural unemployment are caused by some fundamental shifts in an economy and exacerbated by an extraneous factors like technology, competition, government policy etc.
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During a clearance sale at a sporting goods store, skateboards were marked down 30%. On saturday, an additional 25% was taken off the already reduced prices of the skateboards. If a skateboard originally cost $119. 50, what was the final price after all discounts? round to the nearest cent.
The final price of Skateboard after all discounts is $62.74
The Original Price of the Skateboard are $119.50
Since, the skateboard are on discount of 30%, the price of the skateboard is:
= $119.50 - 30% of $119.50
= 119.50 - [tex]\frac{30}{100}[/tex] × 119.50
= $83.65
Now, the skateboards are on additional discount of 25% on Saturdays
The final price of the skateboards are:
= $83.65 - [tex]\frac{25}{100}[/tex] of $83.65
= 83.65 - [tex]\frac{25}{100}[/tex] × 83.65
= $62.74
After rounding to nearest cent the final price will remain the same i.e., $62.74
Therefore, the final price after all discounts is $62.74
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true or false: income tax expense may be disclosed either on the income statement or in the notes to the financial statements. true false question. true false
It is true that income tax expense may be disclosed either on the income statement or in the notes to the financial statements.
What is income statement?An income statement can be described as the financial statement that is been used by the company to show the revenues as well as the expenses that has been acquired over some period of time.
Therefore, the statement above is correct because the income tax expense can be show on other line in the income statement, however the income statement should be able to disclose all that is required such as the expenses that will be needed in the company record.
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a. rules and regulations b. procedures for submitting a degree plan and filing for graduation c. steps to go through and forms to fill out for admission
Step which is often neglect during a bureaucracy is procedures for submitting a degree plan and filing for graduation.
An organizational system is bureaucracy. The system by which we students receive our teaching is university bureaucracy. The goal of a college education is to pursue higher learning, yet due to systemic complexity, bureaucratic problems in institutions might restrict a student's ability to learn.
Numerous students still favour decent school environments over smaller ones, regardless the bureaucracy that pervades within a major university. Incorporating group communication technology into regular classrooms and moving all undergraduate services online are crucial for the future.
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Complete Question: Which of the following is often neglected in a bureaucracy such as a university?
a. steps to go through and forms to fill out for admission
b. rules and regulations
c. procedures for submitting a degree plan and filing for graduation
d. steps to go through and forms to fill out for admission
e. Human and social processes
1)If a 10% increase in price leads to a 40% decrease in quantity demanded, what is the value of price elasticity of demand? Show your work.
2)Which of the following will cause the demand for a good or service inelastic?
Having few substitutes
A longer time period
Being a luxury
Being a large share of the consumer's budget
3)If the price elasticity of demand is equal to 0.5, is demand elastic, inelastic, or unitary elastic?
4)Will a perfectly elastic supply curve be vertical, horizontal, or upward-sloping?
5)What price elasticity of supply will lead to a smaller increase in quantity when price changes— elastic, inelastic, or unitary elastic?
1. Price elasticity of demand measure the responsiveness of quantity demanded given a change in price.
Formula, (-) % change in quality demanded / % change in price
= (-) -40% / 10%
= 4
Hence, price elasticity of demand = 4.
2. Correct answer is having few substitutes .
3. If the price elasticity of demand is equal to 0.5, demand is inelastic.
If price elasticity > 1, situation is elastic demand.
If price elasticity = 1, situation is unitary elastic demand.
4. Perfectly supply curve will be horizontal.
5. An inelastic demand or supply curve is one wherein a given percent exchange in charge will cause a smaller percent alternate in amount demanded or provided. Unitary elasticity way that a given percent trade in fee results in an same percent trade in amount demanded or supplied.
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what tips can you offer him? check all that apply. dwell on the bad news to increase sympathy. use a canned ending to save time. anticipate future relations and business. avoid endings that sound canned.
The tips you can offer a coworker for writing a formal letter is to anticipate future relationships and business and avoid endings that sound canned.
How to write a formal letter?It is essential that there is structure, objectivity and clarity, using a broader tone that does not show ambiguity or bias. A work letter must be aligned with the target audience, communicating the needs in a concise and easy to understand way.
Therefore, both options help in the logical and structured construction of the letter, which does not have a predetermined answer, but is related to the needs of the work.
This is a incomplete question, whose missing statement is:
Your coworker needs to communicate to the cleaning staff that there is no need for them to come during the holidays. He is having trouble finishing the letter and asks for your advice.Find out more about formal letter on:
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lime corp. disposed of its recreation division in november of 2020 at a loss of $18,000 before tax. prior to the sale, the recreation division (considered a separate business component) reported an income from operations of $36,000 before tax in 2020. lime corp. reported income from continuing operations of $420,000 before tax for 2020.
It is calculated by deducting the cost of goods sold, operating expenses, and interest expense from total sales revenue. If Company XYZ reported an interest expense of $30,000, the net profit before taxes would be $1,000,000 - $30,000 = $70,000.
What does profit or loss before taxes mean?Profit before tax is a metric that examines a company's profits before corporate income tax is deducted. It is essentially all of a company's profits prior to deducting taxes. Profit before tax is calculated on the income statement as operating profit minus interest.
Earnings before taxes are calculated as EBIT minus interest expense plus interest income from investments and cash holdings such as bank accounts.
Earnings before taxes are calculated as EBIT minus interest expense plus interest income from investments and cash holdings such as bank accounts. EBT is typically lower than EBIT, but if your company has no interest expense or income, they are equal.
The pretax profit margin is a financial accounting tool used to assess the operational efficiency of a company. It's a ratio that tells us what percentage of sales turned into profits, or how many cents of profit the company made for every dollar of sales before taxes.
Hence, It is calculated by deducting the cost of goods sold, operating expenses, and interest expense from total sales revenue. If Company XYZ reported an interest expense of $30,000, the net profit before taxes would be $1,000,000 - $30,000 = $70,000.
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as a realtor, joshua knows that new industry regulations require him to disclose past flooding issues to potential buyers. previously, realtors were expected only to answer buyers’ questions and if no one asked about flooding, then it was not discussed. the new regulations address the marketing ethics problem of
As a realtor, Joshua knows that new industry regulations require him to disclose past flooding issues to potential buyers. previously, realtors were expected only to answer buyers’ questions and if no one asked about flooding, then it was not discussed. the new regulations address the marketing ethics problem of Withholding material information.
What is Material information?
Material Information in commerce is defined as any information pertaining to the company's business and affairs that results in or is reasonably expected to result in, a substantial change in the market price or value of any of the Company's listed shares.
In law, it refers to essential information that is normally significant enough to determine an issue. It is appropriate for the following situations: A broad question of material fact in civil procedure refers to a genuine, plausible matter of fact that must be determined by a jury or judge.
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using compounding, how much interest will be earned in the second year of a savings account that has an original balance of $100 and earns 5 percent interest per year?
$125 simple interest will be earned in the second year.
We will use a simple interest basis,
A = P(1 + in)
A = 100(1 + 0.05(5) )
= $125 at the end of the 5th year.
Simple interest is a quick and clean technique for calculating the interest price on a loan.
Simple interest is determined with the aid of multiplying the day-by-day hobby charge via the important by using the number of days that elapse between payments.
Simple interest is calculated with the subsequent system: S.I. = P × R × T, where P = predominant, R = charge of interest in % per annum, and T = Time, generally calculated as the wide variety of years. The rate of interest is in percent r% and is to be written as r/one hundred.
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according to the global entrepreneurship monitor (gem) 2015-2016 survey, about percent of adults in the united states are either starting a business or are running a business that has been in existence for less than 3 1/2 years.
The complete statement is "according to the global entrepreneurship monitor (gem) 2015-2016 survey, about 11.9 percent of adults in the united states are either starting a business or are running a business that has been in existence for less than 3 1/2 years."
This is further explained below.
What is a global entrepreneurship monitor?Generally, the Measurement of variations in entrepreneurial attitudes, activities, and ambitions among economies is the primary emphasis of GEM, which has three primary purposes.
To discover the elements that determine the kind and amount of entrepreneurial activity on a national scale.
In conclusion, To determine the consequences of policies for fostering entrepreneurial activity within an economy.
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CQ
according to the global entrepreneurship monitor (gem) 2015-2016 survey, about ______percent of adults in the united states are either starting a business or are running a business that has been in existence for less than 3 1/2 years.
you are planning a trip to london and you need to make your currency exchange this week. you read that the dollar has weakened, or depreciated against the british pound. your trip just became as a result.
Your trip just became more expensive as the dollar has weakened, or depreciated against the British pound.
When the value of the dollar falls (the exchange rate falls), the relative cost of local goods tends to fall while the relative cost of foreign goods and services rises. Currency depreciation tends to improve a country's balance of trade (exports minus imports) by boosting the competitiveness of domestic products in international markets while making imported imports less competitive in the domestic market by making them more expensive.
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I am actively managed and usually come with higher fees. Which investment am I?
The type of investment that is actively managed and usually come with higher fees is known as a Mutual funds.
What is the Mutual funds investment?A Mutual funds is considered a money market investment. These actively managed funds tend to have higher fees because there is a team of advisors behind the computer looking to beat the market.
For most part of the investment, the investor will pay higher fees for funds that are actively managed or seek to outperform the overall market but a lower fees for passively managed funds that track an index.
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which process in project schedule management involves identifying the specific tasks that the project team members and stakeholders must perform to produce the project deliverables?
The process in project schedule management involves identifying the specific tasks that the project team members and stakeholders must perform to produce the project deliverables
is project planning.
What is project management?Project management involves all activities that ensure the effective management and delivery of a project.
It involves specific task been done at a particular time.
Planning preceeds all activities that is done, it involves identifying key stakeholders and to perform a task and supervision.
Therefore, project planning involves identifying the specific tasks that the project team members will do.
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The landmark legislation that helps guard against inflated profits and hidden liabilities on balance sheets to protect against financial scandals is the?.
The landmark legislation that helps guard against inflated profits and hidden liabilities on balance sheets to protect against financial scandals is the Sarbanes-Oxley Act of 2002.
The Sarbanes-Oxley Act of 2002 was a piece of legislation that was passed with the intention of safeguarding investors from corporate financial reporting fraud. It established fines and made changes to the current securities laws. Following a slew of financial scandals at the beginning of 2000, this law was passed.
The Sarbanes-Oxley Act of 2002 was passed in response to financial crises in order to shield shareholders and the broader public from fraud and accounting mistakes.
The 2002 Sarbanes-Oxley Act imposes strict penalties for corporate fraud. To regulate the accounting sector, it established the Public Company Accounting Oversight Board. 1 Whistleblowers had employment protection, and executive loans from companies were prohibited.
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The complete question is ''The landmark legislation that helps guard against inflated profits and hidden liabilities on balance sheets to protect against financial scandals is the:
A. Foreign Investment and National Security Act of 2007.
B. Fraud Enforcement and Recovery Act of 2009.
C. Private Securities Litigation Reform Act of 1995.
D. Sarbanes-Oxley Act of 2002.
b) the market for a hardcover book in which the publisher overestimated demand, charging more than the equilibrium price. (instead of a shift, indicate the quantity of the shortage or surplus of the book.)
The hardcover book market where the publisher underestimated demand and charged higher prices than the equilibrium price declines.
The definition of equilibrium price:The cost of an item or service to the consumer at an equilibrium price, also known as just a market-clearing price, depends on whether supply and demand are equal or nearly equal. Customers have access to all of the units they wish to purchase, and manufacturers and vendors are free to move as many units as they like.
Why does the equilibrium price exist?When supply and demand are balanced, a price is at equilibrium. If demand or supply characteristics don't change, prices have a tendency to revert to this equilibrium. Demand, supply, or both might alter or shift, which can cause changes inside the equilibrium price.
Briefing:Because there is a direct correlation between demand as well as equilibrium price if all other factors remain constant and the demand for one good decline good declines, the equilibrium price will also decline. Similar to how demand, as well as equilibrium price, ,as well as equilibrium price are directly correlated, if one grows, the other will follow suit automatically, and vice versa. Demand will rise, and as it does, so will the equilibrium price.
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the balance in the prepaid rent account before adjustment at the end of the year is $32,000, which represents four months' rent paid on december 1. the adjusting entry required on december 31 is
Debit Rent Expense is $8,000 whereas the credit Prepaid Rent is $8,000 of the above given accounting equation .
What is Deferred revenue ?
Money received for goods or services but not yet earned is referred to in accrual accounting as deferred income (also known as deferred revenue, unearned revenue, or unearned income). The revenue recognition principle states that it is recorded as a liability up to the time of delivery, at which point it is changed to revenue.
For instance, a business might get an annual software license payment on January 1 from a client who paid it in full. The business' fiscal year, nevertheless, concludes on May 31. Therefore, the business adopting accrual accounting only includes the fee in its revenues for the fiscal year it received the money, or five months' worth (5/12), of the fee. On the balance sheet for that year, the remaining amount is added to deferred income (liability).
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demski company pays its employees on the 1st and 15th of each month. it is march 31 and the company is preparing financial statements for this quarter. its employees have earned $96,000 since the 15th of march and have not yet been paid. how will demski’s balance sheet and income statement reflect the accrual of wages on march 31? answer wages payable by $answer on the balance sheet.
The specific transaction would have an incremental effect on both the balance sheet and the income statement sheet.
That indicates that the income statement would rise by $96,000 as a result of the wages expense being reflected on the income statement's debit side. Additionally, the balance sheet would rise by $96,000 as a result of including the wages payable on the present liabilities side of the balance sheet's credit side.
A financial statement that lists a corporate resources, liabilities, and shareholders ’ equity at a certain point in time is referred to as a balance sheet. The foundation for calculating investor return rates and assessing the capital structure of a company is provided by balance sheets.
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