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spayn [35]
3 years ago
14

How are resources allocated in a traditional economy?

Business
2 answers:
rjkz [21]3 years ago
7 0

traditional morals the system of production of material wealth

mote1985 [20]3 years ago
4 0
Traditional morals the system of production of material wealth
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Adding all of that would equal to $1,346
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2 years ago
During the adjusting process two transactions were missed. The first is for unearned rent revenue of which $450 was earned durin
masya89 [10]

Answer:

3. net income is understated by $175

Explanation:

There were two transactions omitted. The first transaction is unearned rent revenue of which $450 was earned. This earned rent revenue increases income by $450. While the second transaction was accrued interest payable of which $275 is owed. This interest payable increases liabilities by $275.

Therefore, from the above, income or revenue is understated by $450, while expenses is understated by $275.

Therefore, net income is understated by income less expenses, thus 450 - 275 = $175. This also implies that liabilities are overstated by $175.

4 0
3 years ago
Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bond
ivann1987 [24]

Answer:

Explanation:

The journal entry is shown below:

On September 30

Bonds payable A/c Dr $1,000,000

Loss on bond retirement A/c Dr $20,000

          To Discount on Bond A/c  $10,000

          To Cash A/c $1,010,000

(Being the callable bond is recorded)

The computation is shown below:

For cash

= Par value of bond + Premium

= $1,000,000 + $10,000

= $1,010,000

For Loss, it would be

= $1,010,000 - $990,000

= $20,000

And, the remaining amount would be transferred to discount on bond

7 0
3 years ago
Frozen Delight, Inc. charges an initial franchise fee of $79,300 for the right to operate as a franchisee of Frozen Delight. Of
telo118 [61]

Answer:

Check attached file

Explanation:

6 0
3 years ago
: ____ refers to all of the pay and benefits provided to employees for the completion of work.
steposvetlana [31]
The answer is total compensation. 
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3 years ago
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