Answer:
<u>Journal 1</u>
Debit : Prepaid Expense $37,600
Credit : Cash $18,800
Credit : Insurance Expense $18,800
<u>Journal 2</u>
Debit : Dividends $18,000
Credit : Wages $18,000
Explanation:
Journal 1
The first error has to be corrected by debiting the Prepaid Expenses by twice the amount paid to cancel the effect of a credit entry made to that account. Cash is credited to show the correct credit entry that was supposed to be made. Insurance expense is credited to cancel the debit entry made to this account in error.
Journal 2
The error made is called error of principle. This is were the transaction is recorded in the wrong class of accounts. Simply, Debit the Dividends and credit the Wages Account to record and reverse the error out of the Wages Account into the Dividends Account.
If you’re a sole proprietorship or general partnership, you’ll need to file a DBA if you want your company to operate under a name that’s not your full, legal name, or your partner’s name. That’s because sole props and GPs are unincorporated, and they don’t need to file entity formation papers, and a business entity name, with the state. (Though they do still need to acquire the necessary business licenses and permits.)
So, they and their business are one in the same entity—which means they and their business have the same name, too—unless they file a DBA.
I hope it helped you!
Answer:
c. There are more unemployed resources.
Explanation:
Equilibrium level of income is the level of income where aggregate supply in the economy is consistent with aggregate demand. that is the level of income planned savings is equal to planned expenditure. the equation can be written as S = I. where S = savings and I = investments
At equilibrium income level, aggregate expenditure is equal to aggregate output. The equilibrium equation can be written as Y = C+I+G+X-M where
Y = national income, I = investment expenditure of the firm, G = government expenditure on goods and services, X = export, M = import.
Answer:
C) 0.9.
Explanation:
The calculation of the price elasticity of demand is shown below:
Price elasticity of demand is
= (Change in quantity demanded ÷ average of quantity demanded) ÷ (Change in price ÷ average of price)
where,
q1 = 11
q2 = 9
p1 = $100
p2 = $125
So,
= {(9 - 11) ÷ (9 + 11) ÷ 2} ÷ {($125 - $100) ÷ ($125 + $100) ÷ 2 }
= {-2 ÷ 10} ÷ {25 ÷ 112.5 }
= -0.9
= 0.9
As u asked in ur question which food we should have before exercise : ANSWER is - Option (B)
cross check if u have doubt it's correct..
