A teachers lesson plan book is not an example of a market. The correct option among all the options that are given in the question is the last option or the fourth option. The other three options that are given in the question are all connected with selling or buying something. I hope the answer helps you.
Answer:
Sales tax = 5% x 32340 = $1,616
Tina's sales for the month = $32,340 - $1,616 = $30,724
The correct option is D
Explanation: Since the total receipts include sales tax of 5%. We need to eliminate the sales tax from the total receipt so as to obtain Tina's sales for the month.
Answer: B. Enforceable because the parties were free to negotiate the terms of the contract.
Explanation:
The contract is Enforceable because both parties went into the contract with full mind and body and set and agreed to terms.
The terms were neither unconscionable not were the rates usurious.
The Agreement was not against public policy either.
This means that the agreement is Enforceable in most states in the country.
Answer:
b
Explanation:
According to Marshall Laws of Derived Demand, labor demand is more inelastic in the following circumstances :
- the cost of employing labour constitutes a small proportion of the total cost of production.
- the demand for the product is relatively inelastic
- labour cannot be easily substituted for in the production process
- when the supply of other factors of production is inelastic
Answer:
The expenses can be recorded as follows;
Debit to the expenses of $33,000 and a credit to the cash account of $33,000.
Explanation:
The accounting equation is an equation that tends to balance a company's assets on one side and the sum of its liabilities and shareholders equity on the opposite side of the equation. It form the basis for the double-entry system in accounting that includes an accounts debit and credit. The debit is a sum to an amount that is owed, it is usually listed on the left hand-side of an account while the credit is a listing of a sum that is received usually on the right hand side of an account.
In the case of Michael Barry, the accounting equation;
Assets=liabilities+stockholders equity
Assets=$126,000
Liabilities=$74,000
Stockholders equity=$52,000
liabilities+stockholders equity=74,000+52,000=$126,000
The assets equals the sum of the liabilities and stockholders equity.
To record expenses paid of $33,000;
Debit Credit
Expenses $33,000
Cash $33,000
