The T-Account can be made as follows with the credit of $3,754. The expenses are deducted from the balance as the total credit available.
<h3 /><h3>What is Expense?</h3>
Expenses are the costs that are paid by businesses, these costs are incurred for the operations of business. The expenses are paid from the cash/ bank balance available at the business.
It is recommended that the expenses are in a control and are lower than the revenue generated by the business.
T-Account
Operating Expense Account
$420
$250
$100
$250
Petty Expenses Account
$150
$100
Asset Account
$1500
$650
$334
The account are made according to the nature of expenses, there are two expenses that are not to be classified as an expense instead they need to be treated as a capital expenditure that is to be posted in Asset account.
Expenses with one off event and small amount and in general in nature are posted in petty expenses
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The time between the disabling event and therefore the beginning of payments in your disability coverage is called: Elimination period.
Option C is correct
<h2>What is the purpose of elimination period?</h2>
The purpose of an elimination period is to give you the opportunity to get treatment and see how your illness or injury responds. you'll be able to return to work using only paid leave or short-term disability.
<h3>Do you get paid during elimination period?</h3>
Elimination Period: The elimination period may be a period of time an employee must be disabled before benefits are paid. for brief term disability, there's an elimination period for disabilities due to sickness and one for those due to injury. The elimination periods could also be the same length, counting on the policy.
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Answer:
The weighted average unit cost of the inventory at January 31 is $496
Explanation:
Weighted Average unit cost the average cost of units on hand on each day. It is calculated by dividing total inventory value by total available units.
Date Unit Received / Sold On Hand Unit Cost Balance
1/1 Inventory 540 units at $2.80 540 $1,512 $1,512
1/8 Purchased 960 units at $2.3 1500 $2208 $3,720
1/12 Sold 1,300 at ($3,720/1500) 200 $3,224 $496
<span>b. debit interest receivable for $500 and credit interest revenue for $500
</span>
Answer:
a. firms have different costs.
Explanation:
A market might have an upward-sloping long-run supply curve if
a. firms have different costs.
b. consumers exercise market power over producers.
c. all factors of production are essentially available in unlimited supply.
d. the entry of new firms into the market has no effect on the cost structure of firms in the market.
