China and the us i belive
On January 15, the owner of a sole proprietorship withdrew $2,000 cash for personal use from the business. This entry will be posted to the ledger as explained below.
A ledger is an accounts book or collection that records accounting transactions.
- Each account has an opening or carry-forward balance.
- Each transaction would be recorded as a debit or credit in separate columns, as well as the ending or closing balance.
The ledger is a permanent summary of all amounts recorded in supporting journals, which record individual transactions by date.
Every transaction always passes through a journal and into one or more ledgers.
The company's financial statements are developed from ledgers' summary totals.
Since the proprietor withdrew cash in the given case, it will lead to a decrease in cash and his equity.
Since we will assume he is withdrawing to invest elsewhere.
Therefore, a decrease in cash will be shown by posting $2000 on its credit side, and subsequently, a decrease in capital/equity will be shown by posting $2000 on its credit side.
Hence, this entry is posted to the ledger by decreasing both cash and equity/capital accounts with the same amount which is $2,000.
Learn more about ledger:
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The given excerpt is an example of predatory pricing
.
<u>Explanation:
</u>
Predatory pricing is a pricing strategy that identifies a product or service at a very low price, aimed at new customers or at taking competitors off the market or at creating barriers for new potential competitors.
However, it is hard to prosecute the claims of this activity because defendants make an argument that low prices are part of normal trade instead of a concerted attempt to disrupt the economy. Yet predatory prices are always not efficient because of the problems of restoring lost revenue yet removing rivals effectively.
Consumers may benefit from lower prices in the shorter term, but they will suffer if the strategy succeeds in reducing competition, and prices increase and choice decreases.
Answer:
$192,000
Explanation:
Using the weighted-average method the Costs to be accounted for will be:
Cost of ending work in process inventory$31,000
Add Cost of units transferred out $161,000
Total cost accounted for$192,000
Therefore using the Weighted average method the cost to be accounted for will be $192,000
Answer: Compensating differentials.
Explanation:
Compensating differential is the additional amount of money that a worker is given in order to motivate the worker to accept an undesirable job. Compensating differentials is as a result of the risk of injury, risk of future unemployment, risk of unsafe environment and it explains why there is difference in pay between different regions
Even though Max and Eli have the same skill and are members of the same trade union, Max is paid higher than Eli because Max works in an area with high crime rate while Eli's area has a low crime rate. Thus, Max higher is expected because the cost of living is higher in a city and also due to higher crime rates which means he's likely to work mire than Eli.
