Answer:
Debit to interest expense for $4, 400
Explanation:
The journal entry is shown below:
Interest expense A/c Dr $4,400
Notes payable A/c Dr $10,808
To Cash A/c $15,208
(Being the due payment is recorded)
For due payment, we debited the interest expense and the notes payable account and credited the cash account as cash is paid for the first annual payment due on the note
Answer:
d. The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the right
Explanation:
If the price of cotton falls, the cost of producing blue jeans would fall. As a result of the fall in the cost of production, more producers would be attracted to the industry and production would increase. Increase in supply of blue jeans would shift the supply curve to the right.
I hope my answer helps you
Answer:
a. the portion of its marginal cost curve that lies above the AVC
Explanation:
In short run, a perfectly competitive produces as long as its price is above its AVC, so revenues can cover total variable cost. If price is below AVC, the firm has to shut down. Since such a firm maximizes profit by equating Price with MC, this condition means that firm's supply curve is its MC curve lying above the (minimum point of) AVC curve.
Answer:
$1,250
Explanation:
Given the following :
Amount of marginable stock customer wishes to buy = $7,500
Restricted margin account with $2500 of SMA
Since the account is a restricted margin account, that is (account has fallen below intial requirement). There must be a deposit of 50% in the regulation T account.
Hence, to purchase a marginable stock of $7,500;
50% of $7,500 should be deposited;
50/100 × 7,500 = $3750
Since there is $2500 of SMA in restricted margin account
Hence, the amount needed will be ;
($3,750 - $2,500) = $1,250
Answer:
Trial Balance
Items Group Debit ($) Credit ($)
Cash Asset 37641
Office Supplies Asset 890
Prepaid Insurance Asset 4600
Office Equipment Asset 12900
Accounts Payable Liability 12900
Capital Equity 18000
Withdrawals Equity 3329
Engineering Fees earned Revenue 36000
Rent Expense Expense <u>7540</u> <u> </u>
Total <u>$66900</u> <u>$66900</u>
