The answer, on the point of view of Boster, is A. Debit notes receivable and credit accounts receivable (not payable i think). This is from the point of view of Boster. So to Boster, he will have an accounts receivable by Martin company. So what Martin did is that he offered a promissory note to Boster. This will increase Boster's notes receivable. At the same time, this will also lessen Boster's accounts receivable since this turned into a notes receivable.
Answer:
Revenue - March = $160
Explanation:
The accrual principle in accounting states that the revenues for a period should match the expenses for that particular period and any revenue or expense should be recorded in the period to which it relates to. This means that the upfront fee received by Fit Co. is a liability and should not be recorded as a revenue until it is earned. So, by providing two sessions in the month of March, Fit Co. has earned revenue for 2 sessions out of the twelve. Thus, at the end of March, Fit Co. should record a revenue of,
Revenue - march = 960 * 2/12 = $160
Answer: 2,200 units.
Explanation:
The complete exercise is:
A manufacturer shipped units of a certain product to two locations. The equation above shows the total shipping cost T, in dollars, for shipping c units to the closer location and shipping f units to the farther location. If the total shipping cost was $47,000 and 3,000 units were shipped to the farther location, how many units were shipped to the closer location?
Given the following equation:
You know that "T" is the total shipping cost (in dollars), "c" is the number of units shipped to the closer location and "f" is the number of units shipped to the farther location.
Based on the information given in the exercise, you can identify that, in this case:
Then, knowing those values, you need to substitute them into the given equation:
And finally, you must solve for "c" in order to calculate the number of units that were shipped to the closer location.
You get that this is:
Answer: Option C) When supply equals demand.
The most common supply curve decreases with price. The most common demand curve increases with price. The point at which supply and demand curves intercept each other is the equilibrium point. At that point (equilibrium), there are consumers who are paying less than what they are willing to pay (generating a consumer surplus) and there are producers who are selling at a price that is higher than what they are willing to receive (generating a producer surplus), then both consumer and producers benefit.
