Answer:
cash 7,600
nearned revenue 7,600
cash 7,300
refundable deposist 7,300
cash 57,100
refundable deposist 7,300
unearned revenue 7,600
service revenue 76,000
sales tax expense 45,600
state tax payable 30,400
local tax payable 15,200
Explanation:
(1) as the services are not yet perform, this is a liability for Chicago Glass Corportation. It assumes to obligation of do this services.
(2)This will be refund once the job are complete and the containers returned in good form
(3) 72,000 - 7,600 = 64,400 - 7,300 = 57,100
Chicago deduct rom the invoince the previous payment and the refundable deposits once the transaction is finished.
(4)
760,000 x 4% = 30,400
760,000 x 2% = 15,200
30,400 + 15,200 = 45,600
It is D. A part-time job to earn extra money.
Answer:
The principle of market economy dictates that producers and sellers of goods and services will offer them at the highest possible price that consumers are willing to pay for goods or services. When the level of supply meets the level of demand, a natural economic equilibrium is achieved.
Explanation:
Answer:
C. Land
Explanation:
Input is any commodity used in the manufacturing of other products. Factors of production are the inputs or resources used in the production of other goods and services. They include land, capital, labor, and entrepreneurship.
From the list provided, the only the factor of production is land. In economics, land refers to the fertile fields used in agricultural production. It also refers to space where commercial buildings, factories, and businesses are set up. Land also includes natural occurring resources and minerals such as oil, natural gas, and precious stones.
