Answer:
The journal entry that is to be recorded on May 1 is shown below:
Explanation:
May 1
The first entry to be posted:
Accounts Receivable A/c...................Dr $5,800
Sales A/c............................................Cr $5,800
As the company made a sale, so the sale is credited and it made against the accounts receivable. Therefore, accounts receivable account is credited.
The second entry to be posted is as:
Costs of goods sold A/c....................Dr $4,000
Merchandise inventory A/c...................Cr $4,000
The cost of the goods sold amounts to $4,000. So, the account of COGS is debited and it is against the inventory. Therefore, the merchandise inventory is credited.
Answer:
see below
Explanation:
The concept of limited liability is a confirmation that a corporation's assets are liabilities are distinct from those of shareholders. The concepts safeguard the shareholder's private properties should a business fail to meet its obligations.
Limited liability states that the liabilities of a shareholder is limited to the extent of his capital contribution. If the event of a dissolution, a shareholder's losses are capped to the share contribution. Their personal properties cannot be used to pay business debts should the business's assets be inadequate.
Answer:
This is a form of artificial monopoly.
Explanation:
In artificial monopoly a large firm exists with smaller firms in the same market. The large firm does not have a comparative advantage in production efficiency bit still drives the competition out of business.
Large firms use restrictive measures that prevents new form from entering the market. The other type of monopoly is the natural monopoly.
Having exclusive rights to open a MacDonald's in the Carribean where you can construct as many locations as you want is called artificial monopoly. The firm has successfully barred other firms from opening a MacDonald's in the Carribean.
Answer:
A is the right answer so right it
Answer:
changing the subject
Explanation:
In simple words, changing the subject refers to the method of privacy setting under which an individual who does not want to take about a particular issue with the other tries to persuade the other by starting a new topic which might be more interesting.
That issue could be of more importance to the other individual or he or she might be an expert who will get the chance to show their knowledge. This technique is more effective withe hyper active people who talk a lot.
