Answer:
Explanation:
The journal entries are shown below:
1. Petty cash A/c $1,100
To Cash A/c $1, 100
(Being the petty cash fund is established)
2. Office supplies A/c Dr $614
Miscellaneous selling expense A/c Dr $200
Miscellaneous administrative expense A/c Dr $145
Cash short and over A/c $26
To Petty cash A/c $985
(Being the expenses are recorded)
The Cash short and over is computed below:
= $1,100 - $115- $614 - $200 - $145
= $26
Resource x is necessary to the production of good y. if the price of resource x rises, the supply curve for good y will shift leftward resulting in a(n) increase in the equilibrium price of y and a(n) decrease in the equilibrium quantity of y.
The answer is E. supply; leftward; increase; decrease. The supply curve is a graphical representation of cost of a good or service and the quantity supplied during that period. The curve can show many different outcomes from changes with the supply of a good or service based on the demand for it.
Answer:
Transaction 1
Debit : Cash ($1,000 x 1,000) $1,000,000
Credit : Bond Payable $1,000,000
Transaction 2
Debit : Cash ($854,000 x 101.30%) $865,102
Credit : Bond Payable $865,102
Transaction 3
Debit : Cash ($281,000 x 99%) $278,190
Credit : Bond Payable $278,190
Explanation:
On each issuance date recognize a cash inflow and a liability - Bond Payable to the extent of the amount paid on issue.
It is completely inappropriate to suggest that the securities and exchange commission supported the practice of insider trading on the stock market. Therefore, the statement given above is false.
<h3>What is the significance of insider trading?</h3>
Insider trading can be referred to or considered as an unfair trading practice of placing trade on securities of a company due to a possession of an unpublished price sensitive information not accessible to the public.
To protect the interests of general investors in the stock market, the securities, and exchange commission has laid strict regulations and fines as well as imprisonment on the practice of insider trading in the stock market.
Therefore, the statement given above regarding the significance of insider trading is false.
Learn more about insider trading here:
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The question given above is to be assumed as a TRUE or FALSE question. The answer has been given under same assumption.
