Answer and Explanation:
The journal entries are as follows:
On May 4
Account payable $600
To cash $600
(Being cash paid is recorded)
On May 7
Account receivable $6,500
To service revenue $6,500
(being service on account is recorded)
On May 8
Supplies $800
To Account payable $800
(being supplies purchased on account)
On May 9
Equipment $1,000
To cash $1,000
(being cash paid)
On May 17
Salary expense $500
To cash $500
(being cash paid)
On May 22
Repair expense $800
To Account payable $800
(Being received bill for repairing of an equipment is recorded)
On May 27
Prepaid rent $1,100
To cash $1,100
(Being cash paid is recorded)
Answer:
c. reciprocal
Explanation:
The value for the money is the amount of goods or service that can be bought or worth in exchange of 1 unit of money or you can say it how much goods or service need to be given up to get 1 unit of money. Therefore, value of money is the inverse or reciprocal for the price level. The value for money determine the purchasing power of the economy, The higher the price level, lower the Purchasing power of money.
Answer:
Mexico either specialized in the production of high end cars which it exports, while it imports low end cars for its domestic market. Since Mexico is a developing country, most of the cars sold domestically will be low end cars.
Countries manufacture and export the goods which they can produce at a lower opportunity cost since they have a comparative advantage in their production. Mexico probably has a comparative advantage in the production of high end cars (specially vs. the US) which generate higher revenues.
Reengineering is being defined as the fundamental rethinking and redesigning of business processes to achieve the dramatic improvements in its critical and contemporary performance measures.
<h3>What is engineering?</h3>
Engineering is the process where the machines and its related items are being developed through application of scientific principles and concepts.
Reengineering is the technique where the dramatic upgradations in the overall performance of a business can be determined by modifying the structure of business and its related systems.
It is one of the most important strategy being developed in the early times of the year 1990s. It merely focused on the designing and review of the workflows in an organization.
Therefore, the provided definition relates to the term called Reengineering.
Learn more about the Reengineering in the related link:
brainly.com/question/13104616
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Answer: Check attachment and explanation.
Explanation:
a. The question has been solved. Check the attachment.
b. LAKEVIEW COMPANY
Balance sheet (Partial)
December 31
Current liabilities
FICA Payable=$4800 + $4800= $9600
Charitable contribution payable = $2400
Withheld income tax payable = $6400
State and Federal unemployment tax payable = $560
Unearned rent revenue = $5700 - $3800 = $1900
Total current liabilities = $20860
