Answer:
Part 1. The purchase of supplies for $760 cash was debited to Equipment $200 and credited to Cash $200.
Merchandise $ 760 (debit)
Cash $ 560 (credit)
Equipment $200(credit)
Part 2. A $530 dividend was debited to Salaries and Wages Expense $800 and credited to Cash $800.
Cash $270 (debit)
Dividend $530 (debit)
Salaries and Wages $ 800 (credit)
Part 3. A payment on account of $700 to a creditor was debited to Accounts Payable $230 and credited to Cash $230
Account Payable $470(debit)
Cash $470 (credit)
Explanation:
Part 1. The purchase of supplies for $760 cash was debited to Equipment $200 and credited to Cash $200.
Derecognise the $ 200 Equipment recored in error.The Cash figure was understated, therefore derecognise a further $560 to reflect the outflow of economic benefits. Lastly the Merchandise or Inventory Account must the recognised. This is the correct asset account to the original transaction.
Part 2. A $530 dividend was debited to Salaries and Wages Expense $800 and credited to Cash $800.
Recognise an equity element - Divident. Assets of cash were overstated therefore recognise the overstated amount of $270. Salaries and Wages Account was recognised in error therefore de-recognise this expense account.
Part 3. A payment on account of $700 to a creditor was debited to Accounts Payable $230 and credited to Cash $230
The transactions was recorded in correct accounts for the debit and credit but with wrong or understated amounts. Recognise a further $230 for Accounts Payable and a further 4230 for Cash
Answer:
Business Model
Explanation:
The answer is Business Model because, Technology, Cost of Resources, and Productivity are all causes and factors that have the ability to cause a change in supply.
Hope this helps :))
Answer:
Corporate dropouts
Explanation:
People become entrepreneurs for various reasons. Some have the internal drive to create something or provide a service and become entrepreneurs from a young age.
<u>Some others work for a period of time in an organization and due to certain factors, decide to quit their jobs to become entrepreneurs</u>. Such entrepreneurs are <u>corporate dropouts</u>.
They usually have some experience from their previous jobs that may be useful to them as entrepreneurs.
Billy and Sally are examples of entrepreneurs who are corporate dropouts.
