Answer and Explanation:
The Journal entry is shown below:-
1. Sales Revenue Dr, $42,030
Rent Revenue $300
To Salaries and Wages Expense $21,600
To Depreciation Expense $1,300
To Utilities Expense $4,220
To Insurance Expense $1,400
To Rent Expense $6,000
To Income Tax Expense $2,900
To Retained Earnings $4,910
(Being closing of revenues and expenses is recorded)
2. Retained Earnings Dr, $300
To Dividends $300
(Being closing of dividend is recorded)
The answer to this question is the Financial Responsibility
Law. The Financial Responsibility Law is a Law where in an individual should
prove that in case of a motor accident he or she can be able to pay the
damages. These are the situations where an individual need to show proof of
being financially responsible is when you have to register your car, after a
collision or accident happened, and when a police officer asked you during a traffic
stop.
Answer:
The elasticity of supply for hot cocoa is 1.43.
(D) Supply in the market for coffee is less elastic than supply in the market for hot cocoa
Explanation:
Using the midpoint formula,
Elasticity of supply for hot cocoa = (change in quantity supplied/average quantity supplied) ÷ (change in price/average price)
change in quantity supplied = 101 - 31 = 70
average quantity supplied = (101+31)/2 = 66
70/66 = 1.06
change in price = 9.75 - 4.5 = 5.25
average price = (9.75+4.5)/2 = 7.125
5.25/7.125 = 0.74
Elasticity of supply for hot cocoa = 1.06 ÷ 0.74 = 1.43. The supply for hot cocoa is elastic because the elasticity of supply is greater than 1.
Elasticity of supply for coffee = (73 - 31)/(73+31)/2 ÷ 0.74 = 42/52 ÷ 0.74 = 0.81 ÷ 0.74 = 1.09. The supply for coffee is elastic because the elasticity of supply is greater than 1.
However, supply in the market for coffee is less elastic than supply in the market for hot cocoa because the elasticity of supply for coffee is less than that of hot coffee.
Answer:
Explanation:
Credit unions offer higher savings rates and lower interest rates on loans. This means that their members are better served and might be able to save a significant amount on car loans, student loans, and mortgages.
By processing their milk supply by themselves and cutting out middlemen, by pooling their resources and working together, the members of Swaayam Ksheer have been able to generate more purchasing power and grow their operations and have been able to double their profits.
