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4 years ago

14

Uniform Supply accepted a $11,700, 90-day, 8% note from Tracy Janitorial on October 17. What entry should Uniform Supply make on

January 15 of the next year when the note is paid? (Assume reversing entries are not made

1 answer:

lilavasa [31]4 years ago

7 0

Answer:

Debit Cash $7,326; credit Interest Revenue $21; credit Interest Receivable $105; credit Notes Receivable $7,200.

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Jose Consulting paid $540 cash for utilities for the current month. Determine the general journal entry that Jose Consulting wil

elena-14-01-66 [18.8K]

Answer: Utilities Expense 540 Cash 540

Explanation:

Journal entry simply refers to the recording of transactions in a company's books. It should be noted that every transaction entered in the general ledger begins with a journal entry.

With regards to the question, the journal entry will be:

Debit Utilities expense $540

Credit Cash $540

3 0

3 years ago

Demand for movie rentals is highly elastic. What will happen if a video store raises the price of a rental?

adelina 88 [10]

Answer:

It will lose revenue

Explanation:

An elastic demand (which are found in goods or services that have substitutes) moves proportionally to price changes.

It means that, if the price of the good rise, then the demand will diminish. The opposite works the same, if the price reduces, then the demand will grow.

On the other hand, elasticity refers to the impact of the prices on the demand of the goods and there are key factors that influence this relation:

Necessity of the good (or product)
The existence of substitutes goods or alternatives to those goods
Time

5 0

4 years ago

Read 2 more answers

Han Products manufactures 21,000 units of part S-6 each year for use on its production line. At this level of activity, the cost

Shalnov [3]

Answer:

Net savings of buying from outside supplier $ 29,000

Explanation:

Computations from buying S 6 from outside supplier.

Costs to produce in house - $ 24 per unit

Units produced 21,000 units

Total costs to produce in house ( 21,000 units * $ 24) $ 504,000

Total costs to buy from outside ( 21,000 units * $ 20) <u> $ 420,000</u>

Savings on buying from outside <u>$ 84,000</u>

Adjustments of costs

Continuing Fixed manufacturing overhead

( $ 9 * 21,000 units) * 2/3 $ 126,000

Rental Income of manufacturing facilities <u> $ 71,000 </u>

Continuing costs <u>$ 55,000</u>

Net savings of buying from outside supplier $ 29,000

4 0

3 years ago

2. Winners and losers from free trade Consider the market for meekers in the imaginary economy of Meekertown. In the absence of

loris [4]

Answer:

In the absence of international trade, the domestic price of meekers is $40. Suppose that the world price of meekers is $39.

When the world price is lower than the domestic price the country imports and domestic price goes down

If Meekertown allows free trade,then it will import meekers

Meekertownian consumers were worse off without free trade than they are with it.-TRUE

Meekertownian producers were worse off without free trade than they are with it.- FALSE

True or False:

When a country is too small to affect the world price, allowing free trade will never increase total surplus in that country, regardless of whether it imports or exports as a result of international trade.-FALSE

Explanation:

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4 years ago

Mike and Lon came to a party together. A friend offered Mike a ride home. However, there was no room in the car for Lon. What ar

Vikentia [17]

Mike could leave lon behind, walk lon home, offer to pay for a taxi or finally he could stay with him.

3 0

3 years ago