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Goryan [66]
2 years ago
10

This is a partial adjusted trial balance of Wildhorse Co.. WILDHORSE CO. Adjusted Trial Balance January 31, 2022 Debit Credit Su

pplies $780 Prepaid Insurance 1,620 Salaries and Wages Payable $1,040 Unearned Service Revenue 710 Supplies Expense 910 Insurance Expense 540 Salaries and Wages Expense 1,770 Service Revenue 4,350 Prepare the closing entries at January 31, 2022.
Business
1 answer:
Dominik [7]2 years ago
7 0

Answer:

The entries are made as follows;

Explanation:

Service Revenue             Dr.$4,350

Income Summary            Cr.$4,350

(To close revenue account)

Income Summary

Supplies expense         Dr.$910

Insurance Expense       Dr.$540

Salaries and Wages Expense Dr.$1,770

Income Summary                                         Cr.$3,220

(To close expenses)

Income Summary (4,350-3,220)   Dr.$1,130

Retained Earnings                         Cr.$1,130

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A monopolist sells in two geographically divided markets, the East and the West. Marginal cost is constant at $50 in both market
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Answer:

A) QE = 400, PE = 250

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b) east market has more elastic market demand

Explanation:

Given data :

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demand and marginal revenue in each market are given differently

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For east market :

50 = 450 - QE

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since QE = 400 ( quantity for east market )

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PE = 250 ( PROFIT maximizing price for east market )

For west market

50 = 700 - 2QW

Hence QW = 325

since QW = 325

325 = 700 - pw

PW = 375

B) The market in which demand is more elastic is the east market because the quantity demanded is higher and also the profit maximizing price is lower as well

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3 years ago
how do free cash flows available for debt and equity stakeholders differ from free cash flows available for common equity shareh
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The value of free cash flows for common due to the fact that they are made up of funds available for distribution to shareholders as dividends. Alternatively, this is Distributable Cash.

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In a statement of cash flows using the indirect method, an increase in available-for-sale securities due to an increase in their
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Answer:

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