Answer:
The correct answer is equal to price.
Explanation:
A perfectly competitive firm is a price taker. This is because of the large number of firms, no single firm is able to influence the price. So each firm faces a horizontal demand curve. This horizontal line shows demand, marginal revenue, and average revenue.
The price level is determined at the point where the marginal cost is equal to price. The marginal revenue is always equal to price because the price is fixed at a point, each output level is supplied at the same price.
Answer:
The payment and the Deposit
Explanation:
The check register is adjusted using the item: payment and the Deposit and from the point of view of the bank statement the item is the withdrawal and deposit.
Based on the fact that Forward Co. discarded a machine with cost $5,000, the entry to record this transaction in the books would include a credit to Machinery.
<h3>How do you dispose of fixed assets?</h3>
When fixed assets are to be disposed of, the accumulated depreciation upt to that point is looked at to calculate the net book value.
This would then show the company if they made a profit or a loss when they sold the fixed asset with a profit being made when the selling price is higher than the net book value.
Regardless of the price the fixed asset is sold at, the company would record a credit to the fixed asset (machinery) account to show that the fixed asset account is decreasing.
In conclusion, there will be a credit to machinery.
Find out more on disposing fixed assets at brainly.com/question/14542603
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Answer:
$651,000
Explanation:
The balance in the investment account as at 31st December is calculated as;
Investment account balance January 1, 202X
$624,000
Add:
30% of Turks services inc. $120,000
Net income
$36,000
Less :
30% of $30,000 dividend paid
($9,000)
Investment account balance December, 31 202X
$651,000
