Answer:
Be included as a component of income from continuing operations for 20X9
Explanation:
To find out the correct balance of income from continuing operations, we have to add the loss as the loss is added in the income from continuing operations.
Moreover, in this question the golden rule of accounting applies which says:
Debit all losses and expenses and credit all income and gains which apply in the nominal account that record any type of transactions. example - sales account, purchase account, etc.
Answer:
Journal of given entries
Explanation:
to Sales ac 20000
to Account Receivables ac 17400
- Prepaid Insurance ac dr 4900
to Cash ac 4900
- Accounts Payable ac dr 990
to Cash ac 990
to Prepaid Insurance ac 3900
to Advance ac 7700
to Cash ac 1420
to Cash ac 1200
Answer:
AD shifts left and price level would decrease.
Explanation:
If consumer wealth decreases due to a plunge in the stock market, the AD curve will shift to the left. This is because shifts to the left of the AD curve represent a reduction in demand, and if consumers are poorer, they will naturally decrease their demand.
This will in turn reduce the price level, because in a market system, prices will fall until they meet the new, lower demand, meaning that a new equilibrium price is reached.
I cant see the text tru posting it again