Answer:
c. Karen Meyer's personal records and the American Red Cross
Explanation:
Karen owns the company and withdrew $10,000. That should be recorded on the accounting records of both Karen and Crystal Cleaning Company.
She later performs a new operation. She makes a contribution of $6,000 to the American Red Cross.
Now, this contribution, this operation should be recorded on her personal records and the American Red Cross. This sum: $6,000 doesn't come from Crystal Cleaning Company as the contribution was on her name.
So, the answer is C. Karen records and the American Red Cross.
Answer:
She must sell 7,500 copies to mantain the profits when price changes to $15.
Explanation:
- Let's start with a definition of profit or benefit: Benefit=
- At the beggining, she obtained a profit of $75,000: She sold 5,000 copies, and she got $20-$5=$15 dollars for each of the 5,000. units sold, which means a benefit of dollars.
- Then, if she wants to keep the $75,000 profits when prices falls to $15, she must sell more copies:. Then, the quantity she must sell to mantain the profit constant at $75,000 is New quantity=7,500.
Answer:
The correct answer is option B.
Explanation:
In a perfectly competitive market, there is a large number of sellers selling homogenous products. Because of a large number of firms selling identical products, no single firm can affect the price and output level in the market.
All the firms are price takers and face a horizontal line demand curve. There is no restriction on the entry and exit of firms in the market. That is why firms earn zero economic profits in the long run.
Answer:
Answer: To protect inner layers
Explanation:
Just took the test and it told me the correct answer
Answer:
Please see balance sheet below.
Explanation:
Wolfpack construction balance sheet.
Dec 31
Assets $
Cash 6,000
Land 18,000
Equipment 26,000
Total assets 50,000
Liabilities.
Accounts payable 3,000
Notes payable 20,000
Total liabilities 23,000
Equity
Common stock 11,000
Retained earnings 16,000
Total stockholders equity. 27,000
Total liabilities and stockholder's equity(23,000 + 27,000) 50,000