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3 years ago

The is the only price where quantity demanded is equal to quantity supplied.

1 answer:

7 0

A price is at "quilibrium price" is when demand of quantity and supply are equal.

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Skysong, Inc. began the year 2022 with retained earnings of $670000. During the year, the company sold additional shares of stoc

vlada-n [284]

Answer:

$787,000.

Explanation:

Skysong, Inc. generated a profit of $248,000 (633,000 - 385,000) during the year 2022. This amount has a credit balance in income statement, closing it would require a debit to it and a credit entry to match the debit is made to Retained Earnings account which is an item of Statement of Owners' Equity. Statement of Owners' Equity is a report that represents the Equity section of balance and accounts for any changes in the owners' equity during a period. The items included in this statement are Capital, Paid-up Capital, Retained Earnings, and Drawings. To calculate the ending balance of Skysong's retained earnings, we have to prepare a statement of owners' equity.

Statement of Owners' Equity

<u>Capital</u> <u>Retained Earnings</u>

Opening Balance - $670,000

Additional Stock $1,005,000

Profit for the Year 248,000

Dividends Paid (131,000)

Closing Balance $1,005,000 787,000

⇒ Skysong's retained earnings will be reported at $787,000 at the end of 2022.

7 0

4 years ago

Jill earns a salary of $425.00 per week, plus a commission of 20% on all sales. Last week she sold $1,123 worth of goods. How mu

ch4aika [34]

To find 20% of the value of the goods,
1,123 x 20% (this is the same as 1,123 x 0.2)
= 224.6

Add the salary and the commission,
425.00 + 224.6
= 649.60

Therefore Jill was paid $649.60 last week

4 0

3 years ago

Read 2 more answers

A client sks his accountant to ignore a mistake which overstated the accounts receivable account. The accountant decides that th

ioda

Answer:

C. Stage 4

Explanation:

stage 4 – respecting authority and preserving the rules of society.

authority and social order obedience driven.

7 0

3 years ago

Match the pairs to their respective categories.

baherus [9]

Answer:

PAIRS OF SUBSTITUTES

tea - coffee

butter - margarine

petroleum - natural gas

PAIRS OF COMPLEMENTARY GOODS

printer - ink cartridge

pen-refill

Explanation:

Substitutes are goods that can replace other goods. On the other hand, complementary goods go hand in hand with one another. This implies that while substitutes can be used in isolation, complementary goods cannot be used in isolation of each other. For example, if one needs a pen, they also require a refill.

4 0

3 years ago

Let's say that a country produces the following products:

Y_Kistochka [10]

Ahhaha jbbsjsnakn jain sus

6 0

3 years ago