Out of the following choices, low grade gasoline is a product that is considered a commodity. The lower grades of gasoline are more affordable for people to buy.
Answer:
D. decline; increase
Explanation:
As the restriction on imports reduce the demand of U.S dollar. The value of U.S dollars falls which increases the value of Canadian dollar. The supply of Canadian dollars to be exchanged for U.S dollars decrease and there is less payment to be made in U.S dollars. Canadian dollar will strengthen its position and increase its value.
Answer:
Credit to accounts payable (blue cross/blue shield) of $20,000
Explanation:
Based on the information given we were told that the amount of $20,000 is the amount for the employer portion of health insurance which therefore means that The appropiate journal entry to record employer-provided fringe benefits includes:
CREDIT To Accounts Payable (blue cross/blue shield) of $20,000.
...writing it out. So, yah.
Answer:
The adjusting entry that should be made by the company on June 30 is
Inventories $ 6,500 (debit)
PPE Asset $ 6,500 (credit)
Explanation:
Error Made on June 30 was as follows : Village Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset.
PPE Asset $6,500 (debit)
Cash $6,500 (credit)
On 30 June the amount of inventory reported is understated by $6500.While the amount of Assets recorded is overstated by $6500
Therefore the adjasting entry for this situation is as follows
Inventories $ 6,500 (debit)
PPE Asset $ 6,500 (credit)
Thus increasing the Inventory balance and decreasing the PPE Asset Balance.