Answer:
The petty cash journal entry is a debit to the petty cash account and a credit to the cash account. The petty cash custodian refills the petty cash drawer or box, which should now contain the original amount of cash that was designated for the fund. The cashier creates a journal entry to record the petty cash receipts he entry must show an increase in your Petty Cash account and a decrease in your Cash account. To show this, debit your Petty Cash account and credit your Cash account. When the petty cash fund gets too low, you must refill it to its set amount Count the money remaining in your petty cash account at the end of an accounting period. For example, assume your petty cash account has $550 remaining. Subtract the amount remaining from the account's original balance to determine by how much you need to replenish the account. A cash receipts journal is used to record all cash receipts of the business. All cash received by a business should be reported in the accounting records. In a cash receipts journal, a debit is posted to cash in the amount of money received. An additional posting must be made to balancing the transaction.
Explanation:
If firms are producing at a profit-maximizing level of output where the price is less than the average total cost <u>economic</u><u> profits must be zero</u>.
Profit-maximizing is the process of determining the most effective way to maximize earnings, either in the short or long term. It primarily focuses on identifying the price and output level that generates the greatest profit. It is a crucial premise that supported the development of numerous economic theories, including the pricing and production theories.
Profit maximizing is the sole goal of organizations, and conventional theories are built around this idea. It is also viewed as the organization's most rational and fruitful business goal. It aids in determining corporate organization behavior and the impact of various economic conditions.
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Answer:
a. tries to differentiate its product from competitors' products.
Explanation:
A monopolistic competition is when there are many buyers and sellers of heterogeneous goods and services .
An example of a monopolistic competition is a restaurant.
The demand curve for a monopolistic competition is downward sloping which indicates that the demand is elastic.
If in the short run ,a monopolistic competition earns economic profit, in the long run, new firms would enter in the industry wiping out the economic profit. Therefore, in the long run, a monopolistic competition doesn't operate like a monopoly. A monopoly earns economic profit both in the short and long run.
I hope my answer helps you
You would have to divide the number of bushels by the price.
Answer:
Amount paid to acquire investments $3,160,000
<em />
Net income $1,100,000
Less: Yearly dividends (140,000*4) <u>($560,000)</u>
Income after dividends <u>$540,000</u>
Share in income after dividends
for 6 months ($540,000 * 30% * 6/12) <u>$81,000</u>
Balance of investments of Tremen corporation <u>$
3,079,000</u>
Hence, the balance of investments of Tremen corporation in Delany company is $3,079,000
.
