Answer:
$5,400
Explanation:
We are given the cash balance per books and we are told to determine the cash balance per bank. The following formula is used to calculate the cash balance per book:
cash balance per books = cash balance per bank + notes receivable collected by bank - bank service charge - NSF check
$5,710 = cash balance per bank + $1,000 - $90 - $600
cash balance per bank = $5,710 + $90 + $600 - $1,000 = $5,400
Answer:
B. Personal credit if it is a personal loan
D. If the individual applies to start a business
Explanation:
Typically Financial institutions extend loans based on "credit worthiness" (or credit score) of the individual and can be extended based on whether the individual has an asset to secure the loan. Lack of an asset can have a negative result (dependent upon the amount requested) if the loan request is for a large amount of money.
Answer:
Debit Supplies expense account (P/L) $1,245
Credit Supplies account (B/S) $1,245
Explanation:
The adjustment required is for the supplies used up during the period.
This can be determined by the net movement in the supplies account considering the opening balance, the purchases or additions and the closing balance.
Supplies used up = $330 + $1,500 - $585
= $1,245
The adjusting entries required is
Debit Supplies expense account (P/L) $1,245
Credit Supplies account (B/S) $1,245
Being entries to recognize supplies used up during the period
Answer:
c. equal in Gainesville and Miami regardless of the population difference
Explanation:
The options to this question wasn't provided. The full question can be found here: https://sciemce.com/3049110/decrease-increases-consumption-gainesville-elasticity-demand
Elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Elasticity of demand = percentage change in quantity demanded / percentage change in price
Percentage change in price: (50 - 40) / 40 = 0.25 × 100 = 25%
Percentage change in quantity demanded in Miami = (200 - 160) / 160 = 0.25 × 100 = 25%
Percentage change in quantity demanded in Gainesville =(20 - 16) / 16 = 0.25 × 100 = 25
Elasticity of demand in Miami = 25% / 25% = 1
Elasticity of demand in Gainesville= 25% / 25% = 1
Elasticity of demand in both places are equal to one.
I hope my answer helps you