Answer:
the numbers are missing, so I looked for a similar question:
a. On 1, Tree Service prepaid $7,200 for six months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at adjusts the accounts only at 31, the end of its fiscal year.
Dr Rent expense 1,200 (= $7,200 / 6)
Cr Prepaid rent 1,200
Balances:
Prepaid rent 6,000
Rent expense 1,200
b. On 1, Tree Service paid $1,050 for supplies. At 31, has $400 of supplies on hand. Make the required journal entry at 31. Then post all amounts to the accounts and show their balances at 31. Assume no beginning balance in supplies.
Dr Supplies expense 650 (= $1,050 - $400)
Cr Supplies 650
Balances:
Supplies 400
Supplies expense 650
c. On 1, Tree Service prepaid for six months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at adjusts the accounts only at 31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at 31.
SAME AS QUESTION A
Answer:
revenue is how much you make in a day, month, year.
Answer:
The correct answer is letter "A": relatively elastic.
Explanation:
Elasticity is the characteristic certain goods and services have of experiencing changes in quantity demanded as the prices change. Price elasticity of demand is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the result is equal to or greater than 1, the demand is elastic.
Demand is relatively elastic when small changes in prices cause large changes in quantity demanded. This happens when the goods or services in reference have many substitutes and the cost of switching providers is low.
Thus, <em>if a 1% change in the price of a given product changes its quantity demanded by more than 1%, the product is relatively elastic.</em>
