Answer:
May 15, 2020
No Entry
June 15, 2020
Debit: Account Receivable 2,060
Credit Revenue 2,060
Debit COGS 1,380
Credit Inventory 1,380
July 15, 2020
Debit Cash 2,060
Credit Account Receivable 2,060
Explanation:
Preparation of the journal entries for Splish related to this contract.
May 15, 2020
No Entry
June 15, 2020
Debit: Account Receivable 2,060
Credit Revenue 2,060
Debit COGS 1,380
Credit Inventory 1,380
July 15, 2020
Debit Cash 2,060
Credit Account Receivable 2,060
Answer: Wearing high status clothing
Explanation: In simple words, Non verbal communication refers to the act of making any remark or statement without using language. It could be done by using body posture, dressing sense or eye contact etc.
In the given case, James tried to persuade his clients by showing that he belongs to the high class of the society and maintains a high status. He did so by wearing the expensive clothes. Such persuation will result in perception that James is hardworking and trusted.
Hence from the above we can conclude that the correct option is B.
Answer:
price equals minimum average total cost
Explanation:
As we know that in the short run, the firms earns the economic profit but in the long run when a new firm is entered into the indusry and there is a market share so the demand of the market is to be shared by each firm due to which the demand would be less
So this represents that price is equivalent to the average total cost
Hence, the last option is correct
Answer:
The most likely problem to arise due to a shift from socialism to capitalism is unequal distribution of wealth.
Explanation:
In a socialist system the businesses and properties are owned by the government. The government ensures equal distribution of income and wealth in the society.
However, in a capitalist system the business and properties are owned by private individuals. People earn income on the basis of their contributions. The government does not interfere in the economy, it's the market forces control the economy.
In a socialist system income redistribution takes place from rich to poor. Such things do not happen in capitalism. So people are mostly to face the problem of unequal distribution of wealth through this shift.
The correct option is A. The effect of tax cut is reduction in the amount of money that the government is generating and increase in the amount of money available to those whose taxes are reduced. Government usually cut taxes in order to boost the economy through increased spending.
