Answer:
The necessary journal entries which is to be recorded are shown below:
Explanation:
January 5 Patent A/c.....................Dr $100,000
Cash A/c.......................Cr $100,000
As patent is purchased so any increase in asset is debited. Therefore, patent account is debited. And cash is going out of the business and any decrease in asset is credited. Therefore, the cash account is credited.
December 31 Amortization expense- Patent A/c..............Dr $5,000
Accumulated amortization- Patent A/c.....Cr $5,000
As patent is amortized and the amortization expense is bein recorded.
Working Note;
Amortization expense = Patent Cost / Useful life
= $100,000 / 20
= $5,000
Explanation:
The flood will lead to the destruction of the resources in the country.This will result in the shifting of the PPC curve leftward in the economy.
Earlier PPC is represented by PP curve.After the floods and destruction of resources,the curve shifts to P1P1.It is due to the availability of the number of possible combinations which decreases with the destruction of resources.
Answer:
A,)Unit of Account
B)Standard of Deferred Payment:
C)Store of Value
D)Medium of Exchange:
Explanation:
.
1. Unit of Account ( this explains that good can be measured for a value)
2. Standard of Deferred Payment( it explains that one can make purchase now and pay later)
3. Medium of Exchange( overall purchasing power is attributed to money)
4. Store of Value( Money is used to complete the transaction between the buyer and seller.
Answer: buying more labor and less capital.
Explanation:
Marginal Physical Product tells us about the efficiency involved when an additional unit of labor is added to the production system. It should be noted that in a production system, when there is a change in the input such as labor and capital, the output will be affected.
In this scenario, we are informed that The MPP of labor divided by its (labor's) price is greater than the MPP of capital divided by its (capital's) price. Therefore, costs can be minimized when more labor is bought and less capital.
An example of horizontal communication is when the supervisor shared some information about the new procedure in the Employee Handbook in a meeting with all of the people.
<h3>What is the Horizontal communication?</h3>
This refers to a transmission of information between staffs of a departments within the same level of operation.
Hence, the Horizontal communication is used by the Allison's supervisor.
Therefore, the Option D is correct.
Read more about Horizontal communication
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