Gavin invested $40,000 in the Jason and Kelly Partnership for ownership equity of $40,000. Prior to the investment, land was rev
alued to a market value of $363,000 from a book value of $174,000. Jason and Kelly share net income in a 1:2 ratio. a. Provide the journal entry for the revaluation of land. If an amount box does not require an entry, leave it blank.
Explanation: prices of goods and services are usually prone to change and fluctuation from time to time. The change usually associated with inflation is an increase in price of commodities within a certain period of time. In other to adequately measure inflation, the change in prices of certain economic commodities are compared over an equal time interval either monthly, quarterly or yearly basis as the case may be.
It is calculated as the ratio of the difference between the price of goods between the base and current period to the price at the base period expressed as a percentage. Fall or decline in prices of goods and services is usually called deflation
US demand for Japanese products will create a supply of US dollars and demand for Japanese yen in the foreign exchange market.
This is because when the US consumers purchase Japanese products they need to pay in Japanese yen, so they will exchange US dollars for Japanese yen. Consequently, this will lead to an increase in the supply of US dollars and a demand for Japanese yen.
Quality assurance in the dental office is a way of ensuring that everything possible is being done to produce high-quality diagnostic images and includes quality control administration procedures and control tests.
<h3>What is quality assurance?</h3>
These are the activities that ensure thorough checks are carried out in a system so that the requirements and objectives for a product or service will be accomplished.
In other words, it is the method which prevents or protect the mistakes and the defects in the products which are manufactured and avoid the problem when the product or service is delivered to the customer.
The economic model of social responsibility holds that society will benefit most when business is left alone to produce and market profitable products that society needs. Socioeconomic model of social responsibility, which places emphasis not only on profits but also on the impact of business decisions on society. https://quizlet.com/82572828/chapter-2-business-ethics-social-responsibility-flash-cards/
the bad debt expense would not change as it is not determnate based on the adjustment of an estimate uncollectible account but, in the percentage of sales which will fail to met the payment.
