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I am Lyosha [343]
3 years ago
7

Why do markets exist?

Business
1 answer:
FinnZ [79.3K]3 years ago
8 0

Answer:

The correct answer is *to provide a place for people to trade goods and services

Explanation:

trading can be simply described as the act of exchanging values between parties.

a market is a place where the sellers and buyers meet and trade, in which the buyers buy what they need and want from the sellers at a price both of them can agree upon.

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A) Depreciation on the company's equipment for 2017 is computed to be $16,000.
OleMash [197]

Answer:

Adjusting Journal Entries:

a) Debit Depreciation Expense - Equipment $16,000

   Credit Accumulated Depreciation - Equipment $16,000

To record depreciation charge for the year.

b) Debit Insurance Expense $8,100

   Credit Insurance Prepaid $8,100

To record insurance expense for the year.

c) Debit Office Supplies Expense $2,583

   Credit Office Supplies Account $2,583

To record office supplies used for the year.

d) Debit Deferred Revenue $2,750

   Credit Service Revenue $2,750

To record revenue for work done this period.

e) Debit Insurance Expense $4,200

   Credit Prepaid Insurance $4,200

To record insurance expense for the year.

f) Debit Wages Expense $5,000

  Credit Wages Payable $5,000

To record unpaid wages as of December 31, 2017.

Explanation:

Adjusting journal entries are entries made in the journal to accrue expenses and revenue in line with the accrual concept and the matching principle of U.S. GAAP.  The concept and principle require that expenses and revenue are matched in the period they were incurred and not when they were actually paid for or received.

4 0
3 years ago
Plumlee Corporation has the following account balances at December 31, 2017.
NISA [10]

Answer and Explanation:

Please find answer and explanation attached

6 0
2 years ago
When demand curves​ intersect, the curve with the larger slope in absolute value​ (the steeper demand​ curve) is more elastic?
natulia [17]

False is your answer .-.

7 0
3 years ago
Blossom Company has the following inventory data:
Debora [2.8K]

Answer:

Ending inventory= $916.2

Explanation:

Giving the following information:

Nov. 1 Inventory: 35 units  $7.10 each

Nov. 8 Purchase: 142 units  $7.60 each

Nov. 17 Purchase: 71 units  $7.45 each

Nov. 25 Purchase: 106 units $7.80 each

Nov. 30 ending inventory: 118 units on hand. FIFO (first-in, first-out)

Ending inventory= 106*7.8+12*7.45= $916.2

8 0
3 years ago
A store that advertises a buy-one-get-one-free sale is
zepelin [54]

Answer:

sales promotions

Explanation:

Sales promotions are the steps taken to increase the purchase of the products by adding an incentive to the customers. Buy-one-get-one-free is one of the sales promotions. Here two products are sold in the cost of one. The customer is provided with the benefit of getting two products by giving the amount of one. It is the promotions in which quantity plays a crucial role.

6 0
3 years ago
Read 2 more answers
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