Answer:
Answer is a.
Explanation:
- The first journal entry for encumbrances is:
Encumbrances 6,000
Encumbrances outstanding 6,000
- After the receipt of the invoice the journal entry should be:
Encumbrances outstanding 6,000
Encumbrances 6,000
Expenditures 5,900
Invoice 5,900
Answer:
Correct option is C $6700
Explanation:
It is calculated that the net cash balance is $3,300. But, the minimum cash balance should be $10,000. The difference amount should be borrowed. Thus, $3,300 is deducted from $10,000. The amount to be borrowed by the company is $6,700.
Answer and Explanation:
The Journal entry to record the issuance of the bond is as follows:
Cash Dr $449,280 ($432,000 × 1.04)
To Bond payable $432,000
To Premium on bond payable $17,280
(Being the issuance of the bond is recorded)
here the cash is debited as it increased the assets and credited the bond payable and the premium on bond payable as it also increased the liabilities
Answer:
a. Even though I was willing to pay up to $40 for a jersey sweater, I bought a jersey sweater for only $31.
Consumer Surplus;
= 40 - 31
= $9
When the amount that a consumer is willing to pay for something is more than the amount they actually pay, the difference is the Consumer surplus.
b. I sold a used laptop for $137, even though I was willing to go as low as $130 in order to sell it.
Producer Surplus
= 137 - 130
= $7
When the amount that a producer is willing to sell something for is less than the amount they actually sell it for, the difference is the Producer surplus.
c. I was willing to go as low as $130 in order to sell it A local store was having a sale on watches, so I bought a watch for my brother. Neither.
