Monthly Fees Hope It Helps
Answer:
Explanation:
Asset=Liabilities + Equities
Answer: See explanation
Explanation:
Based on the information given in the question, we should note that while using the gross method, the revenue gotten from sales will be calculated by subtracting the rebate of 2% from the full invoice amount of $110,000. This will be:
= $110,000 - (2% × $110,000)
= $110,000 - (0.02 × $110,000)
= $110,000 - $2200
= $107800
Using the net method, the revenue gotten from sales will be calculated by subtracting the rebate of 6% from the full invoice amount of $110,000. This will be:
= $110,000 - (6% × $110,000)
= $110,000 - (0.06 × $110,000)
= $110,000 - $6600
= $103400
Answer:
its productivity rises and the relative prices of substitutable resources rise.
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. Thus, there exist a negative relationship between the quantity of goods demanded and the price of a good i.e when the prices of goods and services in the market increases or rises: there would be a significant decline or fall in the demand for this goods and services.
This ultimately implies that, an increase in the price level of a product usually results in a decrease in the quality of real output demanded along the aggregate demand curve.
A substitute product can be defined as a product that a consumer sees as an alternative to another product and as such would offer similar benefits or satisfaction to the consumer.
For substitute products (resources), the cross-price elasticity of demand is always positive because the demand of a product increases when the price of its close substitute (alternative) increases.
Hence, the demand for a resource rises as its productivity rises and the relative prices of substitutable resources rise.
Answer:
Accounts Receivable 960 Sales Revenue 960
Explanation:
Under periodic inventory system <u>inventory account is not updated for each purchase and each sale.</u>
<u>At the end of the period,</u> the total in purchases account is added to the beginning balance of the inventory to compute cost of goods available for sale.
Hence, the only entries will be between Sales revenue and accounts receivable.
Dr. Accounts receivable...960
Cr. Sales Revenue.......................960
