Answer:
Part 1. The purchase of supplies for $760 cash was debited to Equipment $200 and credited to Cash $200.
Merchandise $ 760 (debit)
Cash $ 560 (credit)
Equipment $200(credit)
Part 2. A $530 dividend was debited to Salaries and Wages Expense $800 and credited to Cash $800.
Cash $270 (debit)
Dividend $530 (debit)
Salaries and Wages $ 800 (credit)
Part 3. A payment on account of $700 to a creditor was debited to Accounts Payable $230 and credited to Cash $230
Account Payable $470(debit)
Cash $470 (credit)
Explanation:
Part 1. The purchase of supplies for $760 cash was debited to Equipment $200 and credited to Cash $200.
Derecognise the $ 200 Equipment recored in error.The Cash figure was understated, therefore derecognise a further $560 to reflect the outflow of economic benefits. Lastly the Merchandise or Inventory Account must the recognised. This is the correct asset account to the original transaction.
Part 2. A $530 dividend was debited to Salaries and Wages Expense $800 and credited to Cash $800.
Recognise an equity element - Divident. Assets of cash were overstated therefore recognise the overstated amount of $270. Salaries and Wages Account was recognised in error therefore de-recognise this expense account.
Part 3. A payment on account of $700 to a creditor was debited to Accounts Payable $230 and credited to Cash $230
The transactions was recorded in correct accounts for the debit and credit but with wrong or understated amounts. Recognise a further $230 for Accounts Payable and a further 4230 for Cash
Answer:
Domestic demand: Q = 5,000 – 100P; Supply: Q = 150P
At equilibrium, demand equals supply.
5,000 – 100P = 150P
250P = 5,000
P = 5,000/250
Equilibrium price (P) = $20
Substituting P in demand equation:
Q = 5,000 – (100*20)
Equilibrium quantity (Q) = 3,000 portable radio would be imported
Answer:
Option "A" is the correct answer to the following statement.
Explanation:
In the modern era, everyone relates himself with surveys reports easily, If a speaker uses survey reports during his lectures every individual attracts numerical provided data. this will create a suitable environment for the speaker.
In an immediate environment, the speaker tries to attract individuals by providing them survey reports which authorized his opinion.