Answer and Explanation:
The two adjusting entries are as follows:
On May 31
Rent expense ($1,200,000 ÷ 5 months) $240,000
To Prepaid rent $240,000
(Being rent expense is recorded)
Here the rent expense is debited as it increased the expenses and credited the prepaid rent as it decreased the assets
On May 31
Unearned rent revenue Dr $148,800
To Ticket revenue $148,800
(Being unearned revenue is recorded)
Here the unearned rent revenue is debited as it decreased the liability and credited the ticket revenue as it increased the revenue
Answer:
The correct answer is B: $4,300
Explanation:
Giving the following information:
Howell Corporation purchased a new machine costing $27,600 on January 1, 2017. The machine is expected to have a $1,800 salvage value at the end of its useful life of six years.
Depreciation= (purchase value - salvage value)/ useful life
Depreciation= (27600 - 1800)/6= 4300
Answer:
correct answer is Option D
Explanation:
Option D - elastic, and the demand curve will be horizontal.
The quantity would be changed infinitely with a samll change in the the price. It means that demand is perfectly elastic and the curve is horizontal as the small change up decreases the quantity to zero and small change down increases the quantity infinity. Thus, option D is the correct ams of this questionwer
No it does not it is a non-alcohol soft drink
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Answer:
Allocative Efficiency
Explanation:
Allocative efficiency takes place when the consumer's preference towards a particular good is the most which are measured by their willingness to pay to get it. This leads to achieving the optimum distribution.
In the given scenario, allocative efficiency is violated as Miami Heat is going to sign their desired product i.e. LeBron James who is a star player but they were not willing to pay the maximum to get him and rather got him anyway. Thus, the optimal distribution is not achieved.