Answer:
The answer is c. They can gauge their success in improving their own value-enhancing contributions to the firm
The journal entries are given below:
1.
Drawings Debit
Supplies/Inventory Credit
2.
Accounts Receivable Debit
Sales Credit
3.
Accounts Payable Debit
Cash Credit
<h3>What is Inventory?</h3>
An inventory is the current asset of a company that the company sells to earn profits, this inventory is also called as stock and supplies sometimes. The inventory is presented in the financial statements in the Statement of financial position under the current asset's head.
4.
Cash Debit
Accounts Receivable Credit
5.
Purchases Debit
Account Payable Credit
6.
Work in process Debit
Supplies Credit
7.
Drawings Debit
Cash Credit
8.
Cash Debit
Loan Payable Credit
9.
Depreciation Expense Debit
Accumulated Depreciation Credit
10.
Revenue Debit
Income Statement Credit
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Answer:
Security
Explanation:
you need it because it helps
Answer:
Mrs.Smith should continue to operate the business in the short run but shut down in the long run.
Explanation:
According to the shut down rule, at the profit-maximizing positive level of output, a business in a competitive market should continue to operate in the short-term if the price equals to or is greater than the average variable cost, but should shut down in the long term if the price is less than or equal to total cost. Here,
price = $8.10
avg variable cost = $8.00
avg total cost = $8.25
Mrs.Smith should continue to operate the business in the short run but shut down in the long run.
Answer:
Reserve Ratio
Explanation:
Using monetary policy, the Federal Reserve increases Reserve Ratio to reduce the money supply in the economy.
The reserve ratio determines the reserve amounts required, by the Federal Reserve, to be held in cash by banks. This money is kept aside by the bank and is not available to be loaned out to the general public. If the Reserve Ratio is increased, more money will be held in reserves hence a reduction in the money supply in the economy.