The lower the market price,

A theater is presenting a program on drinking and driving for students and their parents or other responsible adults. The procee

Tpy6a [65]

Answer:

100 adults and 50 students should attend

and,

The maximum amount raised = $250

Explanation:

Given:

Admission for adults = $2.00

Admission for students = $1.00

Total persons that can be held in theater = 150

For every 2 adults there must be 1 student

let the number of adults be 'x' and the number of students be 'y'

thus,

we can write the above constraints mathematically as:

x + y = 150 ...............(1)

and,

x = 2y .....(2) (for 1 student i.e y = 1, there should be 2 adults i.e x = 2 × 1 = 2)

substituting the 'x' from 2 in the equation 1, we get

2y + y = 150

or

y = 50

Thus,

x = 2 × 50 = 100 (from equation 2)

Hence,

100 adults and 50 students should attend

and,

The maximum amount raised = $2 × 100 + $1 ×50 = $250

7 0

3 years ago

Both excess supply and excess demand are a result of

sladkih [1.3K]

Answer:

disequilibrium

Explanation:

Disequilibrium is the state of the market when the external and internal forces are stopping from achieving the market balance, so the market is excessively falling out this balance. It can be short-term, or long-term

Disequilibrium happens when the supply is not equal to the demand, when the market is inequal, it can lead to excess supply and excess demand.

4 0

3 years ago

Read 2 more answers

D’Lite Dry Cleaners is owned and operated by Joel Palk. A building and equipment are currently being rented, pending expansion t

lisov135 [29]

Answer:

1) equity = assets - liabilities

equity = $45,000 + $93,000 + $7,000 + $75,000 - $40,000 = $180,000

2) Since there is not enough room here, I used an excel spreadsheet to prepare the accounting equation.

3) D’Lite Dry Cleaners

Income Statement

For the month ended July 31, 202x

Revenues $116,875

Expenses:

Dry cleaning expense $29,500
Rent expense $6,000
Wages expense $7,500
Truck expense $2,500
Supplies expense $3,600
Utilities expense $1,300
Miscellaneous expense $2,700 ($53,100)

Net income $63,775

D’Lite Dry Cleaners

Balance Sheet

For the month ended July 31, 202x

Assets:

Cash $95,325

Accounts receivable $89,750

Supplies $5,900

Land $125,000

Total assets $315,975

Liabilities:

Accounts payable $49,200

Equity:

Capital $266,775

Total liabilities and equity $315,975

D’Lite Dry Cleaners

Statement of Owner’s Equity

For the month ended July 31, 202x

Palk, Joel, capital, beginning balance $180,000

Additional capital raised $35,000

<u>net income $63,775</u>

subtotal $278,775

<u>drawings ($12,000)</u>

Palk, Joel, capital, ending balance $266,775

Download pdf

3 0

3 years ago

A manager realizes halfway through the month that he or she is behind in sales. He or she needs to take corrective action in ord

yuradex [85]

Answer:

Controlling

Explanation:

Controlling is the one of the management function, which is described as the function that helps the business to seek the planned results or consequence from the managers, subordinates and at the all levels of the organization.

This function of management helps the business in evaluating the progress towards the goals of the firm and if there is any deviations, then the corrective measures or action could be taken.

3 0

3 years ago

Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions.May 11 Sydney accepts delivery of $

ale4655 [162]

Answer and Explanation:

The Journal entries are shown below:-

1. Merchandise Inventory Dr, $32,000

To Accounts payable $32,000

(Being purchase of inventory is recorded)

Here we debited the merchandise inventory as it increased the assets and we credited the accounts payable as it also increased the liabilities

2. Merchandise Inventory Dr, $315

To Cash $315

(Being cash paid is recorded)

Here we debited the merchandise inventory as it increased the assets and we credited the cash as it decreased the assets

3. Accounts payable Dr, $1,100

To Merchandise Inventory $1,100

(Being returned inventory is recorded)

Here we debited the accounts payable as it decreased the liabilities and we credited the merchandise Inventory as it also decreased the assets

4. Accounts payable Dr, $30,900

To Merchandise Inventory $927 ($32,000 - $1,100) × 3%

To Cash $29,973 ($32,000 - $1,100) × 97%

(Being cash paid is recorded)

Here we debited the accounts payable as it decreased the liabilities and we credited the merchandise Inventory and cash as this both items are decreased in assets

3 0

3 years ago