Answer:
Dr Bonds payable $50,700
Dr premium on bonds payable $4,265
Cr Cash $53,000
Cr gain on bonds retirement($50,700+$4,265-$53000) $1,965
Explanation:
The premium yet to be amortized on the bond at retirement is the carrying value minus face value i.e $54,965-$50,700=$4265
The premium on bonds payable would now be debited with $4265
The cash paid on retirement would be credited to cash account
The face value of the bonds payable of $50,700 would be debited to bonds payable in order to show that the obligation has been discharged.
Answer:
represents the sum of the quantities demanded by all the buyers at each price of the good.
Explanation:
The market demand curve is the total of all the individual demand curves in the market as mentioned. It depicts the quantity demanded with respect to the different prices
And in this the quantity demanded and the price of a product has an inverse relationship between each other
Therefore the last option is correct
Answer:
2. social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity.
Explanation:
Economics is defined as a study of how a society uses its limited resources. It deals with consumption, distribution, and production of goods and services.
Economics tries to find ways that unlimited wants can be satisfied with limited resources. Theories postulated are focused on how to optimally use scarce resources for production of goods and services, how am individual or organisation can maximise it's utility of a product.