Answer:
The goals are not time-bound, there is no specific date as to when they should be achieved.
Explanation:
SMART goals should be:
- Specific
- Measurable
- Achievable
- Relevant
- Time-Bound: how long will it take DeJohn and his managers to accomplish their goals, e.g. six months, one year?
Answer:
The Journal entries are as follows:
(1)
Equipment A/c Dr. $71,890
To cash $3,790
To accounts payable $68,100
(To record the purchase of equipment)
Workings:
Equipment value:
= Purchase price + Sales tax + Freight charges for shipment of equipment + Installation of equipment
= 64,000 +4,100 + 890 + 2,900
= $71,890
Cash Paid:
= Freight charges for shipment of equipment + Installation of equipment
= 890 + 2,900
= $3,790
Accounts payable = Purchase price + Sales tax
= 64,000 +4,100
= $68,100
(2)
Prepaid Insurance A/c Dr. $1,090
To cash A/c $1,090
(To record any expenditures not capitalized in the purchase of equipment)
<span>When producers would have been willing to accept lower prices at various quantities produced than the market clearing price, the differences are called?</span><span>
PRODUCER SURPLUSE</span>