Spend carefully use discounts monitor your spending create list on how much you spend etc.
Answer:
cab fares will be higher.
Explanation:
The supply of cabs would fall as a result of the limit. The fall in supply would lead to a rightward shift of the demand curve for cabs.
As a result, equilibrium price (cab fares) would increase and equilibrium quantity would fall.
subway is a substitute for cabs
Due to the increase in the price of cabs, there would be an increase in the demand for subway. This would lead to a rise in equilibrium price and quantity
Answer:
The solution to the following problem is done below.
Explanation:
a) Journalize the entries to record the admission of adam to the partnership.
Account Title Dr Cr
Kala, Capital 20,000
Adam, Capital 20,000
Cash 10,000
Kala, Capital 8,000
Leah, Capital 6,000
Adam, Capital 24,000
b) Immediately after adam's admission to the partnership, leah sells one-fourth of her interest to denton for $35,000. journalize the entry to record the transaction.
Account Title Dr Cr
Leah, Capital 13,500
Denton, Capital 13,500
Answer: c. rightward shift of a demand curve.
Explanation:
When there is movement along the demand curve, this is due to a change in the price of the good.
However, an increase in demand is noted by a rightward shift in the Demand curve. This is to signify that the demand has changed even though the price had remained the same. This shift is meant to signify that something else apart from price has caused an increase in demand such as an increase in income. After the shift, the price will have to change to reflect a new Equilibrium which will be the new intersection point with the Supply Curve.
I have attached a graph showing what happens when Quantity Demand increases.
Answer: c. To reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period.
Explanation:
Closing entries are the journal entries that are made at the end of an accounting period in order to be able to transfer temporary accounts to the permanent accounts.
The primary purpose of closing entries is to reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period.
Therefore, the correct option is C.
