Brief Exercise 5-6
At year-end, the perpetual inventory records of Gutierrez Company showed merchandise inventory of $113,150. The company determined, however, that its actual inventory on hand was $111,200.
Record the necessary adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

To buy a product, customers must first have the need for the product.

Customers cannot just simply buy anything or everything when it comes to products. People love shopping but money is a very useful and powerful resource and customers understand it well, so they don't want to spend it on useless things.

Firstly, there should be a need or a desire to buy a particular product. After that the customer decides his or her budget or the money he would like to spend on that product. If it crosses his or her budget, then the customer may not able to buy the product.

Lastly, there should be willingness to buy the product. Nowadays, we get impressed by big brands, malls and stores giving us immense discounts for even our daily needs. That is how knowingly or unknowingly, we tend to shop more.

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The Taipei Inn would have an income of $80,000.

Let's calculate the hotel's income (or loss) for the month using the given information:

The monthly fixed cost is $80,000, meaning that the hotel incurs this expense regardless of the number of rooms sold.

1. Determine the total fixed costs: $80,000 (as provided)

2. Calculate the total variable costs: $20 per room x 2,000 rooms = $40,000

3. Add fixed and variable costs to get the total costs: $80,000 + $40,000 = $120,000

4. Calculate the total revenue: $100 per room x 2,000 rooms = $200,000

5. Determine the hotel's income (or loss) by subtracting total costs from total revenue: $200,000 - $120,000 = $80,000 in  September

This means that the hotel made a profit of $80,000 in the month of September.

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A sport fan who is enticed into buying a ticket to a game by a promotion had her consumer behavior affected by marketing and advertising.

In this case, the promotion, such as a discounted ticket price or a giveaway, served as a stimulus that influenced the fan's decision to buy a ticket. Marketing and advertising play a crucial role in shaping consumer behavior by creating awareness of products or services, highlighting their benefits, and persuading consumers to make a purchase. Through the use of promotions and other marketing tactics, companies can influence consumer behavior by creating a perceived value or urgency for their products or services.In this case, the promotion likely created a perceived value for the ticket, either by making it more affordable or by offering a bonus or reward for purchasing it. This perceived value, in turn, influenced the fan's decision to buy a ticket, demonstrating the power of marketing and advertising in shaping consumer behavior.

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The correct answer is OD. Provides clearing services for organizations that prefer to use different currencies.

The interbank part of the foreign exchange market is primarily designed to facilitate trading and exchange transactions among banks and financial institutions. It enables banks to manage their own foreign exchange positions, to provide foreign exchange services to their customers, and to gain information about the foreign exchange market. Providing clearing services for organizations that prefer to use different currencies is typically not a function of the interbank market, as this type of service is usually provided by specialized institutions such as clearing houses or payment systems.

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sure.. where is it? can u show?

A grade 12 school leaver will require communication, time management and problem solving skills to adapt to the world of work.

Life skills are skills required by individuals are necessary for living and cooperation with others

Some of the life skills include:

A grade 12 school leaver will require communication, time management and problem solving skills to adapt to the world of work.

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Answer:

They company goes out of business?

Explanation:

The job description describes the personal requirements you expect from an employee and can include educational requirements and specialized skills needed. The correct option is c.

A job description is a useful, plain-language tool that explains the tasks, duties, functions and responsibilities of a position. It details who performs a specific type of work, how that work is to be completed, and the frequency and purpose of the work as it relates to the organization's mission and goals.

Job descriptions are used for a variety of reasons, such as determining salary levels, conducting performance reviews, clarifying missions, establishing titles and pay grades, creating reasonable accommodation controls, and as a tool for recruiting. Job descriptions are useful in career planning, offering training exercises and establishing legal requirements for compliance purposes.

A job description gives an employee a clear and concise resource to be used as a guide for job performance.

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Answer:

3.2%

Explanation:

this is an ordinary annuity:

future value of an ordinary annuity = annual payment x future value annuity factor

$366,000 = $11,000 x future value annuity factor

future value annuity factor = $366,000 / $11,000 = 33.2727

you can solve this in two ways:

the first is with a lot of math work in order to solve the following equation

33.2727 = [(1 + i)²³ - 1] / i

or

you can use an annuity calculator (available online) which will yield 3.2%

The best word or phrase to complete each sentence is option D. in. There’s no point in staying up all night if your exam is tomorrow. The correct answer is in.

A preposition is a word that shows relationship between two nouns. Preposition also indicate relationship between the elements of a clause or words. Preposition also indicates position, location and direction. For examples, in, of, at, into, above, over, etc.

Therefore, in the above sentence, preposition 'in' is used to express involvement in an activity.

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There’s no point _________ staying up all night if your exam is tomorrow.

a) On

b) With

c) Of

d) In

Answer: They both encourage customers to return worn-out clothes for reuse

Explanation:

Clothing designers Rag & Bone and Eileen Fisher are similar due to the fact that one can recycle old clothes and shoes and get rewarded. By bringing an Eileen Fisher cloth to their renew store, the person will get $5.

Also, when one beings an old denim to Rag & Bones, the person will get a discount the next time he or she buys a cloth from Rag & Bones.

Answer:

shell say to get your team together and lead if can do it do it, if you cant, don't

Explanation: you're the team leader you're supposed to be able to make decisions even the hard ones

The amount of money a consumer has left after paying for food, clothing, and shelter is referred to as Disposable Income.

Disposable income is the excess income that remains after the consumer or income earner has paid for the necessities of life.  The necessities of life include food, clothing, and shelter.

The consumer can use the disposable income to build up their budget and increase their savings.

Disposable income can be differentiated from discretionary income.  Discretionary income includes the amount of income that the consumer can further spend, invest, or save after the payment of taxes and personal necessities.

Thus, the amount of money a consumer has left after paying for food, clothing, and shelter is referred to as Disposable Income.

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Explanation:Disequilibrium refers to an imbalance between the quantity demanded and the quantity supplied, at a particular price. If the product is underpriced, it will cause a shortage (excess demand) and this will push up price, encouraging further supply until equilibrium is reached).

Answer:Disequilibrium refers to an imbalance between the quantity demanded and the quantity supplied, at a particular price. If the product is underpriced, it will cause a shortage (excess demand) and this will push up price, encouraging further supply until equilibrium is reached).

Explanation:

Answer:

Family. or relationships. spending time with them

Answer:

The correct option for the given case is

A-in equilibrium because there is a shortage of apartments on the market

Explanation:

Reason for correct option:

Option A is correct because in the market there are plenty of customers who are willing and able to pay the rent equivalent to the market price. That means the price payment factor for the rent is at equilibrium butt here is shortage of appartments for the rent.

Reasons for incorrect options:

Option B is incorrect because the market cannot be said to be at disequilibrium becuase the renters are willing and able to pay the actual amrket price for the appartments.

Option C is incorrect because there is shortage of apartments in the market.

Option D is incorrect becuase the market is at euilibiruim and there is no surplus of apartments.

The market for apartment housing is said to be B. in disequilibrium because there is a shortage of apartments on the market.

Thus, disequilibrium correctly describes the scenario of the market.

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The fact that nominal GDP has risen faster than real GDP suggests that the general price level has risen (Option B).

Nominal GDP represents the market value of all goods and services produced in an economy within a specific period, calculated using current market prices. Real GDP, on the other hand, measures the same but is adjusted for inflation to provide a more accurate comparison of economic growth over time.

When nominal GDP increases faster than real GDP, it indicates that the overall market value of goods and services has increased, but not necessarily because of an increase in the production or quantity of these goods and services. Instead, it implies that the prices of goods and services have risen, leading to a higher nominal GDP value.

This increase in the general price level, known as inflation, affects the purchasing power of money and has various economic implications. To summarize, the faster rise of nominal GDP compared to real GDP indicates that the general price level has increased, and this is best represented by Option B.

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Answer:

at any given wage

Explanation:

The labour demand curve shows the number of workers that a firm is willing to hire at a given wage rate. The higher the wage, the lower the quantity of labour demanded and the lower the wage, the higher the number of workers hired. For this reason, the labour demand curve is downward sloping

Please check the attached image for a graph showing the labour demand curve

In free market equilibrium, consumer surplus is equal to the difference between the willingness to pay of consumers and the market price. Therefore, the answer is b. $120.

If the government imposes a $6 per unit tax in this market, the total tax revenue collected will depend on the quantity of units sold. The tax revenue collected will be equal to the tax per unit multiplied by the quantity of units sold.

Therefore, the answer is b. $240.
The deadweight loss resulting from a $6 per unit tax represents the reduction in consumer and producer surplus that occurs as a result of the tax. This is because the tax increases the price of the product and reduces the quantity sold, leading to a reduction in total surplus.

The deadweight loss resulting from a $6 per unit tax is equal to the triangle between the new quantity demanded, the original quantity demanded, and the new supply curve.
The Coase theorem states that an efficient outcome will prevail through private bargaining if property rights are clearly defined and transaction costs are sufficiently low.

This means that if individuals are able to negotiate and come to an agreement over the allocation of resources, without any external intervention, they will reach an efficient outcome.

This is because they will be able to take into account the costs and benefits of their actions, and will have an incentive to reach an agreement that maximizes total surplus.

Therefore, the answer is a. property rights are clearly defined and transaction costs are sufficiently low. Therefore the correct answer is B.

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True. Airlines do demonstrate economies of scale because they often have significant startup costs from the cost of purchasing airplanes, training pilots and staff, and setting up airport operations.

However, once these initial costs are incurred, airlines can take advantage of the large-scale production and distribution of their services.

This means that the marginal cost of operating and maintaining aircraft tends to be relatively low.

As airlines increase the number of planes in their fleet, they can spread out these fixed costs over a larger number of flights and passengers, resulting in lower average costs per unit.

This allows airlines to achieve higher profitability and lower prices for their customers.

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The investment timing option refers to the decision to invest now or later in a project, taking into account the potential benefits and drawbacks of each choice.

In the case of Kim Hotels, the option analysis involves evaluating the potential value of waiting to invest in the new hotel in Seoul. By postponing the investment, Kim Hotels can gain more information about the market conditions and the performance of similar hotels in the area. However, delaying the investment also means forgoing potential profits and losing out on the opportunity to establish a presence in the market early on.

Therefore, the investment timing option should be evaluated based on the expected net present value (NPV) of the project under different scenarios, including the cost of capital, the timing of cash flows, and the probability of success. Ultimately, the decision should balance the risks and rewards of investing now versus waiting and the potential impact on the company's overall financial performance.

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The feature of this debt that is correctly described by the given information is that it is trading at a premium.The face value of the debt is $1,000, which is the amount that will be paid back to the lender at maturity.

The fact that the market price is $1,020 means that investors are willing to pay more than the face value of the debt to acquire it. This premium is likely due to the fact that the annual interest payment of $55 represents a higher yield than other comparable investments available in the market.The fact that the debt is unsecured and noncallable means that it is not backed by any collateral and cannot be called back by the issuer prior to maturity. These are also important features of the debt, but they are not specifically indicated by the given information.

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When there is a conflict between the Income Tax Act and international tax treaties, the international treaties must be attended to first.

If there is a conflict between the Income Tax Act and international tax treaties, the provisions of the treaties will be applied to the taxpayer. Tax laws are not static, and they are not confined to national borders. As a result, businesses that operate internationally must be mindful of tax laws in other nations. Treaties have been established between countries to help prevent double taxation and ensure that taxpayers are not unfairly taxed. Many nations, including Canada, have negotiated treaties with other countries to help prevent double taxation and encourage cross-border business. If there is a discrepancy between Canada's Income Tax Act and a treaty, the treaty's provisions will prevail.

The correct option is the international treaties as they must be attended to first over the Income Tax Act.

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Scarcity is a problem: a. because human wants are unlimited while resources are limited.

Scarcity is an economic condition in which individuals have less resources or commodities than their wants and needs, also known as infinite desires. In economic theory, scarcity is defined as the difficulty of satisfying unrestricted human wants with limited resources. As a result, scarcity necessitates a decision-making mechanism that determines the most effective method of distributing limited resources to fulfill human demands.

There are four types of economic activities:

The whole economy is dependent on these activities and they are governed by human needs and wants. The origin of any good or service comes from the needs or wants of the consumer. To fulfill these wants which are unlimited there are limited resources and to create a balance between these two, the distribution activity comes forth.

The statement "scarcity is a problem because human wants are unlimited while resources are limited" is accurate.

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Answer:

what do you need help on

Explanation:

Answer:

Yield management pricing.

Explanation:

A high accounts receivable turnover ratio indicates that a firm is efficient in converting receivables to cash.

Receivables turnover ratio is an example of an activity ratio which measures how efficiently a firm carries out its daily activities. Receivables turnover ratio is the ratio of revenue to average reciveables.

Receivables turnover ratio = Revenue / average receivables

The faster it is for a firm to collect its receivables, the more efficient the firm is.