Answer:
Equilibrium point
Explanation:
The point where supply curve intersects demand curve is known as the equilibrium point. At this point, the price of commodity supplied equals the price of commodity demanded. Also at this point, the quantity of commodity supplied equals quantity demanded for a commodity.
Thus, E = Qd = Qs
A transaction is initially recorded in the journal, and then subsequently posted to the general ledger
This is further explained below.
<h3>What is a ledger?</h3>
Generally, A book or group of accounts in which transactions pertaining to those accounts are documented is referred to as a ledger.
Each account has a carry-forward balance or a starting balance, and it would record each transaction as either a debit or a credit in distinct columns, as well as the account's ending or closing amount.
In conclusion, When a transaction occurs, it is first written down in the journal, and then it is later entered into the general ledger.
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Answer:
Please see explanation
Explanation:
The transactions shall be recorded in the general ledger in the following way:
Debit Credit
Cash $13,000
Common stock $13,000
(Received $13,000 cash from the issue of common stock)
Accounts receivable $45,000
Revenue $45,000
(Performed services on account for $45,000)
Utility expense $1,100
Cash $1,100
(Paid the utility expense of $1,100)
Cash $33,000
Accounts receivable $33,000
(Collected $33,000 of the accounts receivable)
Salaries expense $6,250
Salaries payable $6,250
(Recorded $6,250 of accrued salaries at the end of the year)
Retained Earnings $1,000
Cash $1,000
(Paid a $1,000 cash dividend to the stockholders)
Answer:
The answer is D.
Explanation:
The demand curve faced by perfectly competitive firm is horizontal. This means that if individual firm charges price above the market price, it will not sell anything.
The curve is the same as marginal revenue curve because change in total revenue from selling one more unit(marginal revenue) is the constant market price.
And it holds in perfect market that price equals marginal revenue (P=MR).
The correct option is D.
