Answer:
1. Dr Cost of goods manufactured 2000
Cr supplies 2000
2.Dr Insurance expense 100
Cr Prepaid insurance 100
3. Dr Depreciation expense 75
Cr Accumulated depreciation 75
4. Dr unearned revenue 800
Cr service income 800
5. Dr Account receivable 280
Cr Service revenue 280
6. Dr Interest expense 70
Cr Interest payable 70
7. Dr Salaries expense 1400
Cr Salaries payable 1400
Explanation:
1. At the end of reporting 500 supplies were at hand (2500-500)= 2000 used and closes in to cost of goods manufactured.
2.Prepaid insurance was 600 and expires 100 of the month.(600-100)=500 will be prepaid.
4. Revenue is earned which was unearned and collection was recorded and liability created of that amount,this is done because of matching principle.
In Keynes's view, a short-term budget deficit due to government spending or tax cuts is "sometimes necessary to help stimulate the economy".
Keynesian economics which is also known as Keynesianism depicts the theories related to economics presented by John Maynard Keynes. Keynes said capitalism is a decent financial framework. In a capitalist framework, individuals procure cash from their work. Organizations utilize and pay individuals to work. At that point individuals can spend their cash on things they want.
Answer:
may be liable for both the negligent and intentional acts.
Explanation:
In the case when an agent is within the scope of agent relationship that committed both type of acts i.e. negligent and intentional that results the injury to the third party so here the principal may be liable for both the act i.e. negligent and intentional as it is followed by the doctrine of respodeat superior
Therefore the second option is correct
"Gross pay"
Gross pay is <em>before </em>taxes and withholdings, net pay (aka take-home pay) is what is left over <em>after </em>taxes/etc are taken out.
Answer:
D. always makes an economic profit
Explanation:
A monopolistically competitive markets consists of firms that sell differentiated products. In the market, there are free entry and free exist, but each firm enjoys a kind of monopoly its products which are the same to other products in the market but are different as a result of branding.
In the short run, the monopoly enjoys on the differentiated product enables the monopolistically competitive firm to make an economic profit. But due to free entry and exist in the market, the firm economic profit will be zero while it only make normal profit.
