Answer:
Debit Cash and Interest Expense; Credit Notes Payable.
Explanation:
This Journal entry would increase Cash, Interest Expense; and Notes Payable. For example, a borrower would receive $9,901 (proceeds) for a $10,000 (face value) note discounted $101 the journal entry would be debit Cash $9,901, debit Interest Expense $101 and credit Notes Payable $10,000.
Answer:
Price Elasticity of Demand is -4
Explanation:
We can see the graph and easily calculate the Q1 which is 120 units at P1 $140 and Q2 which is 80 units at P2 $160 price.
The starting point formula for calculating price elasticity of demand is given as under:
Price Elasticity of Demand = (ΔQ / Q2) / (ΔP / P2)
Here
ΔQ = Q1 - Q2 = 120 - 80 = 40 units
ΔP = P1 - P2 = 140 - 160 = - $20
By putting value in the above equation, we have:
Price Elasticity of Demand = (40 Units / 80 Units) / (-$20 / $160)
Price Elasticity of Demand = -4
Answer:
Break-even sales in dollar value = $10,667
Explanation:
Since the company's operating income is $0, the company makes no profit and no loss. Therefore, the company's total sales is equal to total expenses. It means the company is in break-even point. However, as the variable expense is not given, we have to use contribution margin ratio to calculate the break-even sales.
We know,
Break-even sales in dollar value = Fixed expenses ÷ Contribution margin ratio
Given,
Contribution margin ratio = 45%
Fixed expenses = $4,800
Putting the values into the above formula, we can get,
Break-even sales in dollar value = $4,800 ÷ 45%
Break-even sales in dollar value = $10,667
Answer:
D. economists
Explanation:
Economists -
It refers to the person practicing in the field of economics , is refers to as an economists .
The person is responsible to deal with the concepts of economics , develop , study and apply the classical theories of economics .
The major importance of economist is to make optimal decisions using their complete knowledge of economics .
Hence , from the given information of the question,
The correct option is D. economists .
Answer:
Supplies 2,475 debit
Account Payables 2,475 credit
Supplies Transactions Balance
DEBIT CREDIT DEBIT CREDIT
Sep 1st -- -- 840 --
Sep 18th 2,475 3,315
Acc. Payable Transactions Balance
DEBIT CREDIT DEBIT CREDIT
Sep 1st -- -- -- 10,900
Sep 18th 2,475 13,375
The rules of debit and credit applies to all companies. If company's for incompetence or lack of moral qualms do not follow these rules the result of the accounting will be tained and not useful for the decision making process until the mistakes or ommision are fixed.
Explanation:
The firs is the journal entry.
We debit the supplies as they are assets
and credit the account payable which is a liability.
Then the four column stand for the ledger.
We post the transaction of each account and the balance after the event occur
