Answer:
journal entry are given below
Explanation:
given data
gross pay for the period = $1,000
net pay for the period = $820
to find out
journal entry to record the issuance of payroll checks
solution
journal entry are as
Account Name Debit Credit
Labor Expenses $1000
payroll taxes Payable $820
Net Payroll Payable $180
( $1000 - $820 )
Answer:
One of the major disadvantages of a sole proprietorship is Unlimited Liability The Owner Has For The Debts Of The Firm.
Answer:
Total surplus = 4000
so correct option is D. $4000
Explanation:
given data
P = 300 - 2QD
P = 100 + 3QS
to find out
sum of the consumer and producer surplus
solution
we first equating both as equilibrium at QD = QS
so
300 - 2Q = 100 + 3Q
solve we get
Q = 40
so P will be
P = 3 00 - 2 × 40
P = 220
Consumer surplus area above price and below demand so
Consumer surplus = 0.5 × (300 - 220) × 40
Consumer surplus = 1600
and
Producer surplus area above supply curve and below price so
Producer surplus = 0.5 × (220 - 100) × 40
Producer surplus = 2400
so Total surplus will be
Total surplus = Consumer surplus + Producer surplus
Total surplus = 1600 + 2400
Total surplus = 4000
so correct option is D. $4000
Answer:
11%
Explanation:
Average cost of automobiles in 2013 = $15,500
Average cost of automobiles now = $17,205
Change in average cost = $17,205 - $15,500
= $1,705
Rate of increase in cost is the ratio between the increase and the average cost before the increase.
Rate of increase = ($1,705/$15,500) × 100%
= 11%
The rate of increase for these automobiles between the two time periods is 11%.
