Answer:
$2
Explanation:
Surplus value = revenue - cost
Revenue = $1 × 7 = $7
Cost = $4 + $1 = $5
Surplus value = $2
I hope my answer helps you
Answer:
Explanation:
The journal entries are shown below:
May 1 - Cash A/c $3,800
To Common stock A/c $3,800
(Being stock is exchanged for cash)
May 3 - Equipment A/c Dr $1,086
To Account payable A/c $1,086
(Being equipment purchased in credit)
May 13 - Rent expense A/c Dr $410
To Cash A/c $410
May 21 - Accounts receivable A/c Dr $500
To Service Revenue A/c $500
(Being the completed work recorded)
Answer:
Net Income - Cash basis = $10000
Net Income - Accrual basis = $19500
Explanation:
The cash basis of accounting accounts for transactions that occured in cash in the period when cash changes hand. This means that transactions are recorded when the cash is paid or received rather than to the period to which they actually relate to.
Cash basis net income will be,
Net Income = 37000 - 20250 - 6750
Net Income - Cash basis = $10000
The accrual basis of accounting follows that the transactions should be recorded in the period to which they relate to rather then when the cash is paid out or received.
Accrual basis Net income will be,
Net Income - Accrual basis = 45000 - 25500
Net Income - Accrual basis = $19500
Answer: Index
Explanation:
Any economic fact expressed in terms of number is known as Index,
Index is the statistical change which represents the change in the individual data point. Index measures the change in the consumer goods and its price over time in different geographical locations. Some indices display market variations that cannot be captured in other ways.
Answer:
Explanation:
The journal entry is presented below:
Cash A/c Dr $1,800
To Accounts receivable A/c $1,800
(Being the cash is received)
Since the cash is received so we debited the cash account and there is a decrease in account receivable so this account should be credited. Both the accounts are recorded at $1,800 each.
