Answer:
Debit Office supplies, $500; credit Accounts payable, $500.
Explanation:
Purchase of supplies on credit will increase the supplies and increase the account payable balance as well. Supplies account is an asset account therefore it has debit balance and Account payable is a liability account so it has credit balance. To reflect the event following Journal entry is recorded.
Debit Office supplies $500
Credit Accounts payable $500
Answer:
The correct option is B
Explanation:
In order to compute the profit, the accountant consider the Explicit cost so,
Explicit Cost = Borrowed amount × Interest rate + Ingredients amount
= $30,000 × 3% + $25,000
= $259,000
Where Revenue is $60,000
Profit = Revenue - Explicit Cost
= $60,000 - $259,000
= $34,100
Economic Profit is computed as:
Economic Profit = Total Profit - Implicit Cost
= $34,100 - $40,600
= - $6,500
where
Implicit Cost = Salary + Interest
= $40,000 + ($20,000 × 3%)
= $40,000 + $600
= $40,600
Therefore, Louis says profit is $34,100 and Greg says she lost $6,500
Answer:
Intuition Decision Making model.
Explanation:
Intuition Decision Making model can be described as the process by which knowledge acquired through associated learning and stored in long-term memory is accessed unconsciously to form the basis of a judgment or decision.
When speed is essential to a successful outcome, intuition decision making model should be used because there will not be need for analytics, facts, and a step-by-step process to come to a decision.
First of all, the laissez-faire economics is also known as hands-off apporach. This is from the 19th century. The leaders of the Middle class had a good reponse by embracing this type of approach. Some of the people looked to modify this kind of apporach for the government to have more control. Generally was accepted but also wished to be modified in order for the high class leaders to get control
<span>It is true. Texas legislators need adequate time to gather accurate information and carefully analyze the budget now that it is operating in a two-year cycle</span>
<span>Texas lawmakers voted to approve the bill in 85th legislative session because time is running. Texas faces funding shortages due to slumping oil and gas revenues. And the state needs to the budget of $217 billion in this tight economic times. </span>
