Answer:
1. Drawings A/c. dr. 15,000
To Cash A/c. 15,000
2. Cash A/c. Dr. 63,000
To Sales A/c. 63,000
3. Drawings A/c. Dr. 12,000
To Cash A/c. 12,000
4. Purchases A/c. Dr. 31,000
To Creditors A/c. 31,000
5. Drawings A/c. Dr. 16,000
To Purchases A/c. 16,000
6. Dalip Singh A/c. Dr.35,000
To Sales A/c. 35,000
7. Rent A/c. Dr. 22,000
To Bank A/c. 22,000
8. Purchases A/c. Dr. 19,000
To Cash A/c. 19,000
Numerous things are excluded. For example, free of charge services are not counted such as those when family members help each other. In addition, producing things for yourself or others free of charge is also excluded. These are called non-market transactions.
The equilibrium point in a competitive market exists at the point of optimal market efficiency.
<h3>What is competitive market?</h3>
A competitive market exists a term in economics that guides to a marketplace where there exist a large number of buyers and sellers and no single buyer or seller can influence the market. Competitive markets have no obstacles to entry, lots of buyers and sellers, and homogeneous products.
In economics, especially general equilibrium theory, A perfect market also understood as an atomistic market, is determined by several idealizing requirements, collectively anointed perfect competition or atomistic competition.
No, the monopoly can never be additional efficient than the perfectly competitive market because the competitive market exists at the point of optimal market efficiency and the monopoly will deliver at the point where the MR and the MC stand equal. here the market has the excess capability and a dead weight loss.
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Answer:
Value of scholarship today = $30,484.90
Explanation:
The value of the Scholarship is the present value of the annual payment of $9,000 discounted as the annual interest rate of 7% per annum.
This can be computed using the formula below
Present Value = Annual cash flow × (1- (1+r)^(-n)/r)
n -number of years, r-interest rate
rate r- 7%, n=4, Annual cash flow = 9,000
Present Value = 9,000× (1-1.07^-4)/0.07
= 9,000× 3.3872
= $30,484.90
Value of scholarship today = $30,484.90
