Answer:
Option C.
Dr Insurance Expense $2,100
Cr Prepaid Insurance $2,100
Explanation:
The initial payment of $12,600 is for 6 months which means monthly charge of insurance is $2,100 ($12,600 / 6 months). The initial prepaid expense was recorded as under:
Dr Prepaid Insurance $2,100
Cr Cash Account $2,100
At the end of each month, the insurance expense is recognized and the entry is as under:
Dr Insurance Expense $2,100
Cr Prepaid Insurance $2,100
Answer:
False
Explanation:
Rather, gain or loss on the sale of an asset can be calculated as the difference between sale price and net book value (NBV).
The net book value can be calculated by accumulated depreciation from the purcahse price of the assets.
Therefore, gain or loss on the sale of an asset can be calculated using the following fomula:
Gain (loss) on the sale of an asset = Sales price - Net book value
I’m pretty sure, but forgive me if I’m wrong; it might be “C”. FEMA
Answer: Self-interest, competition, and incentives promote smoothly running markets. Unforeseen events disturb supplies of goods and services and affect prices in the marketplace. Rising prices, specialization, negative incentives, and multiple markets.
Explanation: Hope this helps :)
Answer: Please refer to the explanation section
Explanation:
When a consumer is choosing between two goods which are considered to be perfect substitutes , the optimal bundles choice will be the number of good x and good z that will yield maximum utility is found the ratio of Marginal utility of good x and marginal utility of good z equals the ratio of the Price of good x and the price of good z or The Marginal utility of good x per dollar must be equal to the marginal utility of good z per dollar.
Marginal Utility of good x = MUx
Marginal Utility of Good z = MUz
Utility function = U(qx,qz)
qx and qz maximises U(qx,qz) when
= 
or 
When she receives the same marginal utility per dollar in good x and good y, utility is maximized
