Answer:
B. French wines will become more expensive in the United States.
Explanation:
Exchange rate is the rate at which one currency can be exchanged for another during international trade. The strength of a currency determines how much of the other countrie's goods it can purchase.
When the strength of a countrie's currency is high it will purchase more of the other countrie's goods. If however the currency is weak, it will take more to buy the other countrie's goods.
In this case if the dollar falls against the euro, it will take more dollars to buy French wine than before.
For example if a bottle of French wine was $500, after the fall the price may now be $800.
Answer:
Date Explanation Debit Credit
January 1 Petty Cash $200
Cash $200
Explanation:
Step 1: Journal Entries to Establish the Fund on January 1
Date Explanation Debit Credit
January 1 Petty Cash $200
Cash $200
Being the establishment of petty cash fund
Step 2: Preparing Journal Entries to reimburse funds on January 8
Date Explanation Debit Credit
January 8 Postage $74
Transportation $29
Delivery $16
Miscellaneous $43
Cash $162
Being the reimbursement of Petty Cash Fund.
Petty Cash is usually a fund established by an organisation to take care of day to day expenses. At the end of a period or at the exhaustion of the fund, an account is given and then the amount spent is reimbursed.
Answer:
a) liabilities only
Explanation:
The journal entry to record the payroll tax expense is shown below:
Payroll tax expense A/c Dr
To Social security tax payable A/c
To Medicate tax payable A/c
To State Unemployment tax payable A/c
To Federal Unemployment tax payable A/c
(Being the payroll tax expense is recorded)
The payroll tax expense is shown on the debit side of the income statement whereas payroll tax payable is shown on the liabilities side of the balance sheet
It should be noted that when demand for a product is unit elastic and one would expect sales to equal: 5 units.
<h3>What is elastic demand?</h3>
An elastic demand can be regarded as the demand whereby change in quantity demanded due to a change in price is large.
An inelastic demand entails change in quantity demanded due to a change in price is small.
Learn more about elastic demand at;
brainly.com/question/24384825
