Answer:
The correct answer is option d.
Explanation:
The 100th unit of output that the firm produces has a marginal revenue of $11 and a marginal cost of $10.
The profit to a firm is maximized when the marginal revenue earned and marginal cost incurred are equal.
When the firm is producing the 100th unit of output the marginal revenue is $1 higher than the marginal cost. This implies that the production of the 100th unit increases the firm's profit by $1.
Complete question:
Tim and Michelle have decided to form a partnership with a 60/40 partnership interest ratio. Tim contributes $7500 cash and merchandise inventory with a market value of $1500. While journalizing this transaction ________.
A) Tim, Capital will be debited for $9000
B) Tim, Capital will be credited for $9000
C) Tim, Capital will be credited for $6000 and Michelle, Capital will be credited for $4500
D) Tim, Capital will be debited for $6000 and Michelle, Capital will be debited for $4500
Answer: Tim, Capital will be credited for $9000
Explanation: Tim's total contribution towards the partnership will be recorded as his capital. Since he has contributed $7,500 worth of cash, and merchandise inventory with a market value of $1,500. The market value of the merchandise inventory and the cash contributed adds up towards his capital contribution. This is $7,500 + $1,500 which sums up to a total of $9,000.
Answer:
Debit Credit
Unearned revenue $2,500
($7,500/3)
Revenue $2,500
Explanation:
The following adjusting entry shall be recorded in the accounts of the Biddle and Biddle, on January 31, in respect of revenue earned by it from accounting services:
Debit Credit
Unearned revenue $2,500
($7,500/3)
Revenue $2,500
Answer:
Avoid late fees and penalty APRs by making your payments on time and paying at least the minimum amount. ...
Pay off credit card balances in full before the end of your billing cycle. ...
Shop around for lower rates and fees. ...
Put more money down.
