Paul Inc. forecasts a capital budget of $725,000. The CFO wants to maintain a target capital structure of 45% debt and 55% equit
1 answer:
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Answer:
Heavenly Realty Journal entries can be found in the attached file
Explanation:
Dr Bank with $25,000
Cr. Capital Stock with $25,000
(being Faith Schultz transferred cash in exchange for Capital stock)
Dr. Rental of Office & equipment with $4,510
Cr. Bank with $4,510
(Being Rental costs for Office and Equipment)
Dr. Supplies with $1,330
Cr. Accounts Payable with $1,330
(Being cost of purchased supplies)
Dr. Supplies Expense with $740
Cr. Supplies with $740
(Being cost of supplies used)
Dr Accounts Payable with $490
Cr. Bank with $490
(being payment to Creditors)
Dr. Cash with $20,500
Cr. Sales commission with $20,500
(Being Sales Commission received)
Dr. Automobile Expense with $1,250
Dr. Miscellaneous Expense with $840
Cr. Bank with $2,090
(being payment for automobile expense, rental charges & Miscellaneous expense)
Dr Office Salaries with $2,620
Cr. Bank with $2,620
(Being Payment for Office Salaries)
Dr Dividend with $1,210
Cr Bank with $1,210
(Being payment of Dividend)
If the<u> demand curve is inelastic</u>, a rise in the supply of grain will result in a decrease in the overall income received by grain producers.
The ability of firms to enter and exit a market over time means that, in the long run, the supply curve is more elastic.
Two basic economic concepts are combined in the law of supply and demand to explain how shifts in the price of a resource, good, or service affect its supply and demand. As the price rises, supply increases while demand decreases. On the other hand, as the price falls, demand increases and supply becomes more limited.
The degree to which changes in price translate into changes in demand and supply is known as the product's price elasticity.
Basic consumer demand is comparatively inelastic, or less responsive to price changes.
Discover the long-term impact of population growth on supply and demand: brainly.com/question/13353440
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