Answer:
Mijka Company
a. Journal Entries
Debit Cash $30,400
Credit Service Revenue $30,400
To record the proceeds for services provided.
Debit Expenses $13,800
Credit Cash $13,800
To record the payment of cash for services.
Debit Dividend $2,100
Credit Cash $2,100
To record the payment of cash dividend.
b. Income Statement for the year ended December 31, 2018:
Service Revenue $30,400
Expenses 13,800
Net Income $16,600
Dividends (2,100)
Retained earnings $14,500
Statement of Changes in Stockholders' Equity as of December 31, 2018:
Retained Earnings $14,500
Balance Sheet as of December 31, 2018:
Assets:
Cash $14,500
Equity:
Retained Earnings $14,500
Explanation:
a) Data and Calculations:
Cash revenue $30,400
Cash expense (13,800)
Cash dividend (2,100)
Cash balance $14,500
Answer:
Correct answer is (C)
Explanation:
Budgeted profit vs. actual profit, return on investment, profit
A is your answer so then there is less supply than there is demand.
Answer: See explanation
Explanation:
a. The Law of Demand states that when the price of a good rises, then the Quantity Demanded will (fall)
b. The Law of Demand states that when the price of a good falls, then the Quantity Demanded will (rise).
According to the law of demand, when there's an increase in the price of a product, there'll be a reduction in the quantity of the good that will be demanded by the consumers and vice versa.
