Answer:
Resource Market : <u>Sellers (households)</u> sell factors of production to <u>buyers (businesses)</u>, in return of factor incomes.
Product Market : <u>Sellers (businesses)</u> sell goods & services to <u>buyers (households)</u>, in return of price expenditure for goods & services.
Explanation:
Circular flow of Income is flow of payments & receipts for goods, services & factor services between sectors (firms & households) of economy.
Households sell factors of productions i.e land, labour, capital, entrepreneur to buyers businesses . They get factor incomes i.e rent, wages, interest, profit in return from them .
Businesses sell goods & services to buyers households. Households spend factor incomes earned from supplying production factors, in paying prices for those goods & services.
Product Market : Involves flow of factor services, final products & services - from households to firms, from firms to households respectively.
Money Market : Involves flow of monetary factor payments, prices expenditure- from firms to households, from households to firms respectively
Answer:
The journal entry would be passed as the accounts are closed, which is shown below:
Explanation:
As the books are closed, then the correction would be made against the capital accounts of the partners. And the following Journal entry would be made as:
Land A/c................................Dr $30,000
A's Capital A/c..................Cr $15,000
B's Capital A/c..................Cr $9,000
C's Capital A/c..................Cr $6,000
Working Note:
The amount of land is to be proportionate as the ratio of the partners which is computed as:
A's Capital A/c = Land amount × Ratio of A / Sum of ratios
= $30,000 × 5 / 10
= $15,000
B's Capital A/c = Land amount × Ratio of A / Sum of ratios
= $30,000 × 3 / 10
= $9,000
C's Capital A/c = Land amount × Ratio of A / Sum of ratios
= $30,000 × 2 / 10
= $6,000
Answer:
$12,900
Explanation:
Amount of cash reported in the balance sheet refers to the cash balance in the bank and other short term investments that may be liquidated in 3 months or less.
It is a current asset in the balance sheet.
Amount of cash on balance sheet = $1,500 + $6,700 + $200 + $100 + $4,400
= $12,900
Answer:
The Answer is:
Set consequences for poor performance
Show appreciation
Set clear expectations
Be optimistic and positive
Set a vision and goals
Explanation:
I got it right trust
Answer:
Expected unit sales.
Explanation:
Production budget can be defined as a report or plan that measures the amount of units that will be produced during a particular period of time. It is used by manufacturers to measure what it would cost to manufacture a particular product.
Production budget is used by managers of different organisations to estimate the number of units that they have to produce in future periods which would be in the basis of the future estimated sales numbers. Managers also utilize this report as a planning tool for future production development, machine times, and planning.
