Answer:
The normal balance of liabilities is a credit.
Explanation:
In the double entry system one account must be debited in order for the other to be credited.
There are different balances for each account. For the accounts with normal credit balance a credit causes it to increase while a debit decreases it.
For accounts with negative balance a credit reduces its balance while a debit increases its balance.
- Asset: Debit
- Expense: Debit
- Dividends: Debit
- Liability: Credit
- Owner’s Equity: Credit
- Revenue: Credit
- Retained Earnings: Credit
Liabilities are debt owed by a business. When payment is given out to settle a debt (a debit) it reduces to amount a business owes.
If more loans are collected (a credit) the liability figure increases.
So liability has a normal credit balance
As a result of the record amount of grapes, the equilibrium price decreases while the equilibrium quantity increases. Please find attached the required graph.
<h3>What is the impact of the record amount of grapes?</h3>
If there is a record amount of grapes produced, the amount of wine produced would increase. This is because grapes are an input used in the production of wine.
As a result, the supply of wine would increase. This would lead to a shift to the right of the supply curve for wine. the equilibrium price decreases while the equilibrium quantity increases.
To learn more about supply curves, please check: brainly.com/question/26073189
Answer: B.both stocks are equally good investments
Explanation:
The options are;
A.it is better to buy shares in Bad Firm
B.both stocks are equally good investments
C.it is better to buy shares in Good Firm
D.both stock prices react equally to the same information
From the question, we are informed that Good Firm is highly profitable and will grow rapidly in the future while Bad Firm faces the same risks but barely makes a profit and will not grow at all. It should be noted that In an efficient market, both stocks are equally good investments.
Answer: $14,426.43
Explanation:
At the end of 4 months and assuming a 12 months and 365 days in a year, the formula to be used to calculate how much Rahul owes is;
We use the formula:
Amount owed = Present Value ( 1 + rate/365 ) ^ 365 * time period
Amount owed = 14,000 * ( 1 + 0.09/365 ) ^ (365 *4/12 )
Amount owed = $14,426.43
Answer: $2000
Explanation:
From the question, we are informed that Jennie receives $12,000 (of which $2,000 is earnings) from a Qualified Tuition Program and she uses the funds to pay for new furniture for her apartment.
The amount that is taxable to Jennie will be the amount of earnings she made who is $2000.