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2 years ago

Suppose that the price of corn is above its equilibrium price. You would expect to see:________.

Business

1 answer:

alisha [4.7K]2 years ago

5 0

Answer:

Explanation:

If the price of corn is above its equilibrium price, corn becomes more expensive to consumers. As a result, they reduce the quantity demanded of corn. there would be a movement along the demand curve for corn and not a shift of the demand curve.

Quantity supplied would also increase as a result of the high price. The fall in quantity demanded coupled with the rise in quantity supplied would lead to a surplus. Due to the surplus, sellers would reduce price until price falls to equilibrium price

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45 points, please help.

kipiarov [429]

The total of the assets in a balance sheet is equal to the summation of the owners' equity capital and the total liabilities of the firm.

<h3>What is a balance sheet?</h3>

Balance sheet is the financial statement of an organization that gives the details about the financial position of the company at the end of the financial period.

In the above case, the total of the assets is $50000 and the total of the equities and liabilities tallies the amount of assets. An image for the same has been attached for better reference.

Thus, the equation of the balance sheet holds true in the case of ABC Rentals.

Learn more about balance sheet here:

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3 0

1 year ago

Henry wants to obtain an entry-level accounting position at a major accounting firm. Which educational degree will assist him in

PilotLPTM [1.2K]

Answer:

C. accounting specialization certificate

Explanation:

entry level position start with a short certificate in accounting

6 0

2 years ago

Read 2 more answers

Pizza Express Inc. began the 2016 accounting period with $2,500 cash, $1,400 of common stock, and $1,100 of retained earnings. P

sweet-ann [11.9K]

Answer:

Answer is explained in the explanation section below.

Explanation:

Part A: In part a, we are required to show the effects on the financial statements using horizontal statements model.

For that, we need to tabulate the entries properly. So, it cannot be done be done here in the typing section. So, I m putting it into the attachments. Please refer to the attachment for the part a solution.

Part B:

Reason of the difference:

Cash revenue is $8650 but cash flow amount is $9600

Total operating expense incurred is $3350 but the amount paid only $2700

It will create $650 difference income statement and cash flow.

These activities are reasons for the differences between cash flow from the operating activity and net income.

8 0

2 years ago

What is a sound recorder used for

VLD [36.1K]

It is used to record sounds that you can hear.

3 0

2 years ago

When a sales contract is missing terms on when a payment is due, and if the involved parties have not had an established course

Gemiola [76]

Answer:

False

Explanation:

The provision of the Uniform Commercial Code as amended is that any missing terms such as price, quantity,location and expected time of delivery as well as payment terms can be added to the contract later on with consent of all parties involved or provided in compliance with other commercial codes.

In other words,the fact that payment should be made within seven working days when payment terms are missing is alien to Uniform Commercial Code.

The answer, therefore is false.

7 0

2 years ago