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2 years ago

If quantity demanded exceeds quantity supplied, what most likely needs to happen to achieve equilibrium

1 answer:

5 0

A shortage lives if the quantity of a good or service demanded exceeds the quantity provided at the current price; it causes upward pressure on price. An growth in demand, all other things unchanged, will cause the equilibrium price to rise; quantity provided will increase.

<h3>What occurs when the quantity demanded exceeds the quantity supplied?</h3>

There is a shortage when the quantity demanded exceeds the quantity delivered. Shortages occur when the price is below its equilibrium status. Equilibrium is achieved at the price at which quantities demanded and supplied are equal. We can define a market in equilibrium in a graph by showing the combined price and quantity at which the supply and demand curves intersect.

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borishaifa [10]

Answer:

August 6

DR Inventory $18,720

CR Accounts Payable $18,720

(To record purchase of goods for sale)

= 76 devices * $240

= $18,720

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CR Cash $440

(To record shipping costs of Inventory)

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DR Accounts Payable $1,920

CR Inventory $1,920

(To record Purchase returns)

August 14

DR Accounts Payable $16,800

CR Inventory $168

CR Cash $16,632

(To record payment of purchases)

Working

Accounts Payable = Purchases - Returns

= 18,720 - 1,920

= $16,800

Inventory

Goods were purchased terms 1/10 meaning a 1% discount is goods paid for in 10 days.

= 1% * 16,800

= $168

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DR Accounts Receivable $15,080

CR Sales Revenue $15,080

(To record sales of goods on account)

Sales Revenue = 58 devices * 260

= $15,080

August 23

DR Cost of Goods Sold $14,145.37

CR Inventory $14,145.37

(To record cost of Goods sold)

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3 years ago

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castortr0y [4]

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Matches is the correct term

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Answer:

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Explanation:

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