Answer:
Decrease; Less
Explanation:
The producer surplus is the difference between the minimum price that a producer is willing to accept for a product and the price he actually receives.
When the market price of a product falls, the producer surplus will decrease as well.
The lower market price implies that there will be less area between the supply curve and the market price of the product.
Answer and Explanation:
The Journal entry is shown below:-
Cash Dr, $604.80 ($640 × 5.5%)
Card Expense $35.20
To Sales $640
(Being sale is recorded)
Here we debited the cash and expenses as assets are increasing also it increased the expenses On the other hand it also increased the sales. Also assets and expenses contains normal debit balance and the sales revenue contains normal credit balance
Answer:
c)
Explanation:
Based on the information provided within the question it can be said that this worry stems from the concern that TV networks could be charged with deception of the public by failing to disclose the details of product-placement deals. This is due to the fact that if the network does not tell the public the details of the product deals or even that they are being sponsored, then a consumer might buy the product under the impression that it is a good product when in fact, the network is up-selling it. Therefore it is a form of false advertising.
Answer:
A. $50,000
Explanation:
150,000 for a 3 year compaing = 50,000 per year
<u>The contract has just started </u>and the information available doesn't meet the criteria.
We must remember that <u>accounting has a principle of conservatism</u> regarding revenues. Accrue revenue without proper grounds is not correct. We should recognize the 1/3 of the base fee which is earned and matched the accounting cycle.
