Answer:
A. Cash and a credit to Bonds Payable for $50,000
Explanation:
The journal entry is shown below:
Cash $50,000
To Bonds Payable $50,000
(being the issuance of the bond payable is recorded)
We simply debit the cash as it increased the assets and credited the bond payable as it also increased the liabilities so that the proper posting could be done i.e $50,000 should be credited and debited
A bell attendant is someone who greets people when they are checking in and out of a hotel. They open doors, carry luggage, park cars, call cabs, and things like that.
The ability to forecast cause and effect is crucial for a solid economic model since it enables it to both explain past events and foresee potential future ones.
A model of the economy's importance
Its main goal is to describe and examine the prices and volume sold in a market that is competitive. In relation to price and other factors, the equations of the model define the level of supply and demand (for example, income).
What conclusions do economic models draw?
A simplified representation of reality, an economic model enables us to observe, comprehend, and forecast economic phenomena. A model's goal is to simplify a complex, real-world scenario so that only the most important elements remain.
To know more about economic model
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Answer:
Net market value of firm = $903,196
Explanation:
Items to determine the Market value of the firm are as below
Item Amount
Current value of building $1,440,000
Current value of equipment $467,000
Market value of inventory $205,000
Cash in hand $10,500
98% of debtors $220,696
Less: Owings -<u>$1,440,000</u>
Net market value of firm <u>$903,196</u>
Answer:
Direct labor time (efficiency) variance= $6,270 favorable
Explanation:
Giving the following information:
Standard= Direct labor 0.4 hours $ 11.00 per hour
Actual output 2,600 units
Actual direct labor-hours 470 hours
To calculate the direct labor efficiency variance, we need to use the following formula:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Standard quantity= 0.4*2,600= 1,040
Direct labor time (efficiency) variance= (1,040 - 470)*11
Direct labor time (efficiency) variance= $6,270 favorable
