<h3>Heya</h3><h3>Here is your answer</h3><h3>________________</h3><h3 /><h3>C.Supply for gum is elastic because it has to be made with resources that are not readily available.</h3><h3 /><h3>====================</h3><h3 /><h3>Hope this helped!!!</h3><h3>Happy to help :)</h3>
Answer:
c. credit to Additional Paid-in Capital
Explanation:
The journal entry to record the difference is shown below:
Cash A/c Dr $75 million
To Treasury stock A/c $70 million (1 million shares × $70 per share)
To Additional paid in capital - in excess of par $5 million
(Being the issuance of treasury stocks is reported and the amount remaining is credited to the additional paid-in capital account)
Answer:D - $5,000
Explanation: The company has an estimated warranty cost of 5% of sales which is $30,000. This can be recorded as a warranty payable provision in the books of the company as it gives a 3years warranty on its products. As stated in the question, out of the $30,000 warranty provision, only $5,000 was expensed in the current year leaving a bal of $25,000 for the remaining 2 years which the company has given to its customers. So only $5,000 warranty expense will be recorded in the current year.
Answer:
The market for pork would fall because a close substitute, chicken, is now less expensive, thus, people have less incentive to buy pork because they can buy chicken instead.
In other words, demand for pork fell because supply for chicken grew, chicken became cheaper, and part of the demand that was for pork before, transferred to chicken.
