Answer:
The answer is True.
Explanation:
Because, then new firms will enter in the long run causing market supply to decrease, market price to fall , and profits to decrease.
Present value PV= FV(1/(1+r)^n)
PV = Present Value
FV = Future Value
r= rate
n= number of years
Just plug in the numbers and calculate.
I believe that the answer to the question provided above is that by agreeing on single issue of inflation is due to the need to have one . For the sense of having singularity for the group.
Hope my answer would be a great help for you. If you have more questions feel free to ask here at Brainly.
Answer:
The journal entry which is to be reported on January 1 is shown below:
Explanation:
The journal entry which is to be reported on January 1 for the issuance is as:
On January 1
Cash A/c............................Dr $600,000
Notes Payable A/c..........Cr $600,000
Being the issuance as well as proceeds of the note is recorded
On January 1, the company issues as well as proceeds the note, so, the cash account is debited as the cash is increasing and any increase in asset is debited. Therefore, the cash account is debited. And the note will become payable, which lead to increase in liability and any increase in liability is credited. So, the notes payable is credited
