If after preparing and posting the closing entries for revenues and expenses, the income summary account has a debit balance of $25,000. the entry to close the income summary account will be: a debit of $25,000 to owner capital.
<h3>Income summary</h3>
The debit balance of the amount of $25,000 in the income summary indicate that the company expenses is higher than the revenues generated by the company by $25,000.
Based on this the loss incurred will be taken out of the company owner's equity account by reducing it through a debit entry.
Therefore the income summary account has a debit balance of $25,000. the entry to close the income summary account will be: a debit of $25,000 to owner capital.
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Answer: The correct answer is the first statement.
Explanation: Marginal revenue product measures the amount by wich the extra production of one more worker increases a firm's total revenue.
<u>It is an economic term used to describe the change in total income that results from a unit change of one type of input variable. There are many types of input variables that you can change, such as adding an employee or a new machine.</u>
Answer:
the answer's D, the energy expended to produce the product.
Explanation:
The supply curve for a good will be more elastic if "production inputs are readily available at a relatively low cost".
<u>Option: C</u>
<u>Explanation:</u>
The graphical interpretation is applied to understand the concept of supply curve for any good available in market. This is done by correlating the cost of a good or service and the supplied amount during a given period. In such representation the cost is mentioned vertically on the left axis, while the amount supplied is mentioned horizontally.
The coverage of responsiveness with respect to variations in cost of demand or supply products is understood as elasticity. Here when the small variations in cost leads to the large variations in consumed amount of product, thus curve become more elastic. While if a curve is found less elastic, which showcase that their is large variations in the price to impact a change in consumed amount.
Answer:
$211,750
Explanation:
The computation of diluted earnings per share for the quarter is shown below:-
Particulars Shares
Proceeds from exercise of options a $225,000
(25,000 × $9)
Used to repurchase of common stock b $18,750
( $225,000 ÷ $12)
Number of shares if option is exercised c $25,500
Less: Shares assume repurchased d $18,750
Potential Diluted common shares (e = c-d) $6,750
Add: Number of common f 205,000
Number of shares diluted earning per share $211,750
(e + f)
Therefore the Number of shares diluted earning per share is $211,750
