Answer:
1. Cash (Dr.) $145,850
Sales (Cr.) $145,850
2. Purchases (Dr.) $76,200
Accounts Payable (Cr.) $76,200
3. Accounts Payable (Dr.) $4,100
Cash (Cr.) $4,100
4. Prepaid Rent (Dr.) $24,000
Cash (Cr.) $24,000
5. Wages Expense (Dr.) $12,500
Cash (Cr.) $12,500
Wages Expense (Dr.) $350
Wages Payable (Cr.) $350
6. Depreciation Expense (Dr.) $1,700
Accumulated Depreciation (Cr.) $1,700
Explanation:
Journal entries are recorded for the business transactions. These transaction incurred in the business are recorded in the books of accounts. These journal entries then create Ledger and Trial balance.
Base on my research this type of argument is baseless but it depends on the 100% free enterprise market system. With this system, the government doesn't have regulatory powers to protect the interest of the consumers from the financial institutions. In a situation that without the interest rate modulation, the rate charged on loans could be 40% while the rate paid on savings could be 1%. If this happens the financial institutions will not have to pay FDIC insurance to ensure the solvency of the overall system.
Answer: Option C
Explanation: In simple words, a product refers to an entity that that could be tangible or intangible and is produced by the manufacturer for satisfying the wants of its customers.
Hence anything that is offered to the market and has the ability to satisfy the needs of specified individuals will be classified as a product.
Thus, the correct option is C.
Answer:
No, their economic cost of enrolling in the business program is not the same for both,
Explanation:
The explicit costs of going back to college are the same for Walter and Jesse, e.g. they might be $20,000 per year, or even $30,000 doesn't matter for this analysis. But Walter is currently working as a teacher and that means taht if he decides to go to college, his implicit costs will include the forgone salary as a teacher which is $50,000 per year. Implicit costs are opportunity costs, i.e. additional costs or benefits lost from choosing one activity or investment instead of another alternative.
Since Jesse is not working, whether she goes back to college or not will not affect her income, it will still be $0, but if Walter goes back to college he will lose his salary.
