Answer:
Easton Co.'s adjusted book balance June 30 = $72,724
Explanation:
Bank balance June 30: $68,349 Book balance June 30: $72,709
Deposit in transit: $7,550 Interest earned: $55
<u>Outstanding checks: ($3,175) </u> <u>Check printing fees: ($40) </u>
Adjusted bank balance: $72,724 Adjusted book balance: $72,724
Answer:
Add $45 to the book balance.
Explanation:
This is a transposition error which is an example of error of original entry. A transposition error occurs when the figures are posted in the wrong order, while an error original entry occurs when a wrong amount is entered into the right account. This kind of error usually causes discrepancy between the bank balance and the book balance.
To correct this error in the question, we first find the difference between the right amount and the wrong amount as follows:
Difference = Right amount – Wrong amount = $272 - $227 = $45
Therefore, the difference of $45 will be added to the book balance to bring it into an agreement with the bank treatment as follows:
Bank correct treatment = $272
New book treatment = Wrong amount + Difference = $227 + $45 = $272
It can now be seen that both posting are now in agreement after the correction.
Answer:
D) or E) (are this the same?) 50 units of grain and 130 units of incense
Explanation:
Agland has an advantage producing Organic grain, and Zealand producing Incense, So:
If Agland specialices in producing organic grain it would produce with 20 workers 200 units of grain a year.
If Zealand specialices in producing Incense, it would produce with 10 workers 150 units of incense a year.
This gives a Total combined output of 200 units of grain and 150 unit of incense a year.
Given that the total current output of the two countries is 150 units of grain and 20 units of incense it would increase in 50 units of grain and 130 units of incense.
Answer:
c) the marginal cost of capital
Explanation:
The cost which a company bears to add one dollar / unit of capital is called marginal cost. We know that the company raise funds through different sources which can be debt from banks and stocks (common and preferred). This process of raising capital involves a cost which is termed as marginal cost of capital or the cost required to raise an additional unit of capital.
Answer:
should be equal to their marginal revenue product.
Explanation:
This applies to basically all employees that work in competitive markets, their salaries should equal their marginal revenue product.
An employee's salary = the market value of hiring the employee = marginal revenue product
The formula for calculating marginal revenue product = marginal physical product x marginal revenue
where:
- marginal physical product = extra units produced by the employee
- marginal revenue = price of the units produced
For example, a new employee can produce 100 units per day and each unit is sold at $0.75, therefore the employee's marginal revenue product = 100 units x $0.75 per unit = $75 per day
