Answer: C. in market equilibrium there are no unconsummated wealth-creating transactions
Explanation:Market equilibrium is a term in Macroeconomics used to describe the price at which the Quantity of goods demanded is equal to the Quantity of goods supplied.
Wealth-creating transactions are money making transactions, these transactions are those that takes place and are paid for.
IN A MARKET EQUILIBRIUM THE QUANTITY OF GOODS DEMANDED IS EQUAL TO THE QUANTITY OF GOODS SUPPLIED MAKING THE ECONOMY TO HAVE NO UNCONSUMMATED WEALTH-CREATING TRANSACTIONS.
Answer:
A) Country 1's PPF lies further to the right than country 2's PPF.
Explanation:
Production Possibility Curve shows the combination of two goods, that an economy can produce - by utilising given resources & technology best efficiently.
If country 1 produces twice the output of both goods compared to country 2. Then, country 1's PPF would lie further to the right than country 2's PPF. As, more quantities implies rightward shifted PPC, signifying more quantities of goods that can be produced.
Efficient or inefficient production leads to production inside or on PPC, doesn't shift PPC. Population change is also irrelevant in this case.
Answer:
Please see below
Explanation:
Jan 2.
Dr Cash $13,100
Cr Owner equity $13,100
(Being owner's capital contribution to the business in form of cash)
Jan 3.
Dr Vehicle $3,930
Cr Cash. $3,930
(To record the purchase of used car in form of cash)
Jan 9
Dr Supplies. $655
Cr. Accounts payable $655
(To record supplies purchased on account )
Jan 16
Dr Account receivable $3,144
Cr Revenue $3,144
(Being the record of revenue earned on credit)
Jan 16
Dr Advertising expenses $459
Cr Cash $459
(Being the record of advertising expenses paid in cash)
Jan 20
Dr Cash. $917
Cr Account receivable $917
(Being the record of partial collection receivables)
Jan 23
Dr Account payables $393
Cr Cash $393
(Being the record of payment made to creditors)
Jan 28
Dr. Owner equity $1,310
Cr. Cash $1,310
(To record owner's withdrawal of capital in form of cash)
Answer:
The tax deduction of the contributions.
Explanation:
The claiming of tax deduction of all money raised for the natural disaster in California. Since the Ladies Aid Society is presumably, a non-profit organization then its contributors may claim tax deduction, on their contributions according to Iowa State.
Answer:
c. $4,025,200
Explanation:
The computation of the total cash receipts from sales and collections in April month is shown below:
= April sales × cash sales percentage + April sales × credit sales percentage × collection month percentage + March sales credit sales percentage × Following month collection percentage
= $4,000,000 ×30% + $4,000,000 × 70% × 40% + $4,200,000 × 70% × 58%
= $1,200,000 + $1,120,000 + $1,705,200
= $4,025,200
Since cash sales are 30% , so the credit sales would be 70%
