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Dmitriy789 [7]
3 years ago
12

Shown below is a trial balance for novelty toys, inc., on december 31, after adjusting entries: novelty toys, inc. trial balance

december 31 cash $7,750 accounts receivable 6,375 office equipment 11,250 accumulated depreciation $ 3,000 accounts payable 3,875 capital stock 11,250 retained earnings -0- dividends 3,750 fees earned 22,750 salaries expense 8,000 advertising expense 1,625 depreciation expense 2,125 $40,875 $40,875 the entry to close salaries expense account will:
Business
1 answer:
vagabundo [1.1K]3 years ago
3 0

In order to close the salaries account you need to credit the account for what the balance is, and then debit retained earnings for the same amount. This will bring the salaries account to zero for the next account cycle and record the expense in retained earnings.

The entry will be a debit to Retained Earnings for $8,000 and a credit to Salaries Expense for $8,000.

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What would the new equilibrium price of tutoring services be if carlos decided to stop tutoring?
wariber [46]
Given the table below

\begin{tabular}
{|p {1cm}|p {1.4cm}|p {1.4cm}|p {1.5cm}|p {1.4cm}|p {1.4cm}|}
{Price per hour&Quantity Supplied by Ann&Quantity Supplied by Bob&Quantity Supplied by Carlos&Market Quantity Supplied&Market Quantity Demanded\\[1ex]
\$50&94&35&19&148&5\\
45&93&33&14&140&8\\
40&90&30&10&130&11\\
35&81&27&6&114&16\\
30&68&20&2&90&22\\
25&50&12&0&62&30\\
20&32&7&0&39&39\\
15&20&0&0&20&47\\
10&10&0&0&10&57
\end{tabular}

From the table it can be seen that at the price of $20, the quantity supplied is equal to the quantity demanded equal to 39.

Also notice that at that price, Carlos is not supplying any service.

Therefore, the equilibruim price <span>of tutoring services be if Carlos decided to stop tutoring is $20.</span>
4 0
2 years ago
The result of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions was to:____
postnew [5]

Answer: d. Make bribery of foreign officials a criminal offense but not consider facilitating payments a criminal offense.

Explanation:

In December 1997, signatories accounting for around 70% of World Trade adopted the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions which stated that countries must install Legislative laws that would prohibit the bribing of foreign officials as well as strict penalties for parties who engage in such. This was done to ensure that the playing field was level so to speak instead of one company getting special treatment because they paid for it.

One concern however was that the Convention did not consider Facilitating Payments a criminal offence which means that it could be used as a bypass for the bribery of foreign officials to still happen.  

8 0
3 years ago
Where are endnotes positioned in a document?
m_a_m_a [10]
Endnotes are usually positioned AT THE END OF A DOCUMENT. The purpose of endnote is to reference the citations you used in your document. Endnotes supplement the information you have given in the body of the document but which would be inappropriate if they are included in the main text.
5 0
3 years ago
In a capitalist economy the lenders are usually _____ and the borrowers are usually ______.
lana [24]
The answers the fit the given blanks above are FINANCIAL INTERMEDIARIES and FIRMS, respectively. In a capitalist economy, the businesses are held private and therefore, the production and the operation of the business for their profit is only owned by them. 
8 0
3 years ago
suppose that a country imports $90 million worth of goods and services and exports $80 million worth of goods and services. what
Korolek [52]

Consider a scenario in which a nation buys goods and services worth $90 million and exports them for $80 million. The net exports are valued at -$10 million.

<h3>What does a nation's net export mean?</h3>

Total exports less total imports for a specific country is the definition of net exports. It is a method of determining the total outlays or GDP of a country in an open economy.

The balance of trade, commercial balance, or net exports refers to the difference between a nation's exports and imports in terms of dollar value over a given time period. It's sometimes made a point to distinguish between a trade balance for goods and one for services.

In the above question, given:

Imports= $90 million

Exports= $ 80 million

Net Export= Total Exports - Total Imports

Net Export= $ 80 million - $ 90 million

Net Export= -$10 million

Learn more about net exports: brainly.com/question/16905557

#SPJ1

6 0
1 year ago
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