Answer:
The sum of the debits will exceed the sum of the credits by $340. (None of the options given).
Explanation:
The right posting on the payment of $210 for the purchase office supplies would be;
Debit office supplies account $210
Credit Cash account $210
However since the debit to office supplies was $550 which is 340 (i.e $550 - $210) more than what the amount to have been posted is, it means that the sum of the debits will exceed the sum of the credits by $340.
The excel function for monthly payments is =PMT()
The excel function for cumulative total interest is =CUMIPMT()
Answer:
Accounts payable
Explanation:
In accounting, the term accounts payable refers to the money that is owed by a business to its suppliers, in other words, it refers to the business' short-term debts.
When merchandise is purchased on account and it is returned under the perpetual inventory system, the buyer would then debit accounts payable since it is money that the company would owe to the buyer.
A student with a high academic score
Answer:
please refer to attachment for more explanation
Explanation:
a. a. Since both goods are complementary goods an increase in the price of cream cheese would cause equilibrium price and quantity of bagel to decrease.
b. If the price of the substitute good croissant decreases then the demand for bagel will fall since croissant is obviously cheaper therefore demand curve will shift downward and price and quantity will fall.
c. Lower income of the consumer would make the demand for the inferior good bagel to rise. Demand curve will shift upwards and price and quantity will rise.
