Answer:
Job sharing
Explanation:
Job sharing is a sort of adaptable work course of action in which two individuals work to finish the work one individual would do in a self-contained all day job. In job-sharing agreement, two people handle work, and they share salaries. Hours can change: They may cooperate some portion of the week, and they may never observe one another.
Answer:
Trial Income Statement:
Service revenue $17,000
Rent expense ($3,500)
Insurance expense ($350)
<u>Wages expense ($10,500)</u>
Net income $2,650
*We need to adjust other expenses like supplies or utilities. I assumed the salaries paid were for a 10 days period since no one pays salaries in advance.
Trial Balance Sheet
Assets:
Cash $62,200
Supplies $1,000
Prepaid insurance $3,850
<u>Equipment $10,000 </u>
Total Assets $77,050
Liabilities and Equity:
Accounts payable $8,000
Wages payable $7,000
Common Stock $60,000
<u>Retained earnings $2,050 </u>
Total Liabilities and Equity $77,050
Explanation:
July 1
Dr Cash 60,000
Cr Common stock 60,000 (6,000 stocks $10 par value)
July 3
<u>Rent expense 3,500</u>
Cr Cash 3,500
July 5
Dr Prepaid insurance 4,200
Cr Cash 4,200
Adjusting entry July 31
Dr Insurance expense 350
Cr Prepaid insurance 350
July 7
Dr Supplies 1,000
Cr Accounts payable 1,000
July 10
Dr Wages expense 3,500
Cr Cash 3,500
Adjusting entry July 31
Dr Wages expense 7,000 ($3,500 x 2 10 day periods)
Cr Wages payable 7,000
July 14
Dr Equipment 10,000
Cr Cash 2,500
Cr Accounts payable 7,500
July 15
Dr Cash 8,000
Cr Service revenue 8,000
July 19
Dr Accounts payable 500
Cr Cash 500
July 31
Dr Cash 9,000
Cr Service revenue 9,000
Dr Retained earnings 600
Cr Dividends payable 600
Dr Dividends payable 600
Cr Cash 600
Answer:
See below
Explanation:
Price elasticity of demand describes how responsive the product of a product is to changes in its price. The term elasticity originates from elastic, which means to stretch. A product is price elastic if a small change in price has a significant impact on its demand. Should the price increase by a small percentage, the demand decreases by a considerable difference.
The demand for some products does not react to changes in prices. A small percentage increase or decrease in price does not result in a big change in the quantity demand. Such products are said to be price inelastic.
Substitute goods or goods with close alternatives are the most price elastic. A small change in price will make consumers consider the other alternatives. Examples of price-elastic goods and services include transport services, furniture, motor vehicle, and professional services such as lawyers, doctors, and auditors.
Increase potential for flooding does not apply to freshwater wetlands.
<u>Explanation:</u>
- Freshwater is found near the lakes, rivers, and ponds. Some of the freshwaters are formed by rainwater staying in shallow holes. These freshwaters will not make contact with the ocean.
- Some animals like opossums, muskrat, raccoons, mink are found in freshwater. Marshlands are also a form of freshwater.
- In Freshwater wetlands, water cannot be found on the top but the land will contain water which will be in wet conditions. So it cannot be able to increase the potential for flooding. Freshwater wetlands help to purify the groundwater.
A basic concept in economics is that all resources are scarce.
<h3><u>
Explanation:</u></h3>
There are wants, needs and desires that are unlimited in nature with respect to humans. Resources are very essential for the survival of human beings. The distribution of these scare resources is studied by the Economics. Free goods refer to those goods that come without any cost associated with that.
The resources that are available naturally is scarce because there are only finite quantity available for the utilisation. Some of the examples of scarce resources include raw materials, workers, etc that are very essential for the production of the scarce goods.
