Kacy Spade, owner, invested $10,500 cash in the company in exchange for common stock. The company purchased office supplies for
$305 cash. The company purchased $5,807 of office equipment on credit. The company received $1,239 cash as fees for services provided to a customer. The company paid $5,807 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $2,226 as fees for services provided. The company paid $535 cash for the monthly rent. The company collected $935 cash as partial payment for the account receivable created in transaction f. The company paid a $1,000 cash dividend to the owner (sole shareholder). Prepare a Trial Balance.
The trial balance of Kacy Spade showed total of $12,726 on both debit and credit as found in the attached spreadsheet
Explanation:
In preparing the trial balance, I showed the earlier postings into ledgers for those accounts that had more one transaction and I showed those ones with just a transaction in the trial balance colored-coded in yellow.
Trial balance tests the arithmetical accuracy of postings done in the ledgers by summarizing the ledgers' balances in the trial balance.
<h2>The United States has the comparative advantage in car production.</h2>
Explanation:
Japan has a lower opportunity cost of producing televisions compared to cars, implying that Japan basically has to give up or sacrifice or trade off relatively less number of cars to produce one more television compared to the production of one more car.
Alternatively, US has a lower opportunity cost of producing cars relative to televisions meaning that US has to give up, sacrifice or trade off less number of televisions to manufacture one more car in comparison to the production of one more television.
Hence, in this case,US has a comparative advantage in the production of cars and Japan has a comparative advantage in production of television and both countries can produce these respective commodities by using relatively less productive resources or factor inputs.
