Answer:
The balancing figure = $28,350
Explanation:
The question is to prepare the trial balance for Crane Company for June 30, 2022
A trial balance represents a statement that contains all the debit and credit balances from the account book of an organisation. It is used to show the arithmetic accuracy of the books of account.
<u>CRANE COMPANY'S TRIAL BALANCE AT JUNE 30, 2022</u>
Accounts Title Debit ($) Credit ($)
Accounts Payable 2000
Accounts Receivable 2,680
Cash 5,810
Common Stock 17,410
Dividends 1,590
Equipment 13,340
Rent expenses 1,320
Salaries and Wages 3,610
<u>Service Revenue 8,940</u>
<u> </u><u> 28,350 28,350</u>
15.9% is its stock out probability if Store A’s order quantity is 800 units
Solution:
z-score = 
= (800-500)/300 = 1
So , in-stock probability = NORM.S.DIST(1,TRUE) = 0.841345
Hence stock-out probability = 1 - 0.841345
= 0.158655
= 15.9% (Approximately)
Answer:
Retained Earnings
Explanation:
The statement of retained earnings is prepared after preparing the income statement but before preparing the balance sheet. The reason behind this is that the statement of retained earnings is used to calculate the amount of retained earnings at the end of the period to be shown in the balance sheet.
Answer:
There is no change in consumers' or producers' well being
Explanation:
Currently consumers of vodka were levied tax of $2. However, government decided to provide tax relief to consumers and shift the burden on producer. There will be no change in the well being of consumers and producers.
Tax is a cost that shifts demand curve if consumers pay tax. Supply curve shifts if producers pay tax. The overall effect, however remains the same. If producers pay tax, cost per unit vodka will increase which will be reflected increased prices. Similarly, if consumers pay tax, they will demand lesser. so there is no change overall.
Answer:
economic forces always operate despite legal forces
Explanation:
Based on the information provided within the question it can be said that this scenario best illustrates that economic forces always operate despite legal forces. This has been proven time and time again throughout history as products and services are made illegal, yet they still move millions of dollars illegally. Such as drugs, the organ market, guns, etc.
