Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements
are automatically generated based on the journal entries recorded. Jan. 1 Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock. Jan. 2 The company purchased office supplies for $1,250 cash. Jan. 3 The company purchased $10,050 of office equipment on credit. Jan. 4 The company received $15,500 cash as fees for services provided to a customer. Jan. 5 The company paid $10,050 cash to settle the payable for the office equipment purchased on January 3. Jan. 6 The company billed a customer $2,700 as fees for services provided. Jan. 7 The company paid $1,225 cash for the monthly rent. Jan. 8 The company collected $1,125 cash as partial payment for the account receivable created on January 6. Jan. 9 The company paid $10,000 cash in dividends to the owner (sole shareholder).
1 answer:
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Answer: Equal to zero
Explanation: Slope is a number that describes the steepness of a line or curve. At the maximum point, the total revenue curve becomes flat. At this point the slop of the curve given by the rate of change in the curve is equal to zero. it is neither increasing nor decreasing at the maximum point.
Slope is calculated as,
Total revenue curve is the relation between total revenue and quantity. At the maximum, change in total revenue is zero so the slope will also be zero.
= 0