Answer:
$42,700 cash is available for distribution
Explanation:
In order to calculate the cash available for sharing, we will first identify the debit and credit transactions. Debit transactions are expenditures, while credit transactions are incomes, hence we need to calculate the difference between the income and the expenditure.
Available cash = Everett (credit) - Miguel (debit) + Ramona (credit)
Available cash = 52,800 - 47,500 + 37,400 = $42,700
Therefore $42,700 is available in cash for distribution to the partners
<u>Answer:
</u>
Out of the following prices, the price of 7 barrels of beer per crate of olives would make the trade beneficial for both Greece and Switzerland.
<u>Explanation:
</u>
- As we know that in Greece, a single crate of olive costs five barrels of beer. Where on the other hand, in Switzerland, one crate of olive costs ten barrels of beer.
- Hence, if Greece agrees on giving one crate of olives on every seven barrels (two barrels more than what it costs in Greece), the trade would be beneficial for Greece.
- Similarly, if one crate of olives costs seven barrels of beer instead of ten barrels, the trade would be beneficial for Switzerland too.
Answer: A. Extensive
Explanation: When Corey runs out of shampoo he buys whatever brand is on sale at his local CVS drugstore.
From the above question, Corey has an extensive decision making on toothpaste purchase as he does not have any brand loyalty. He buys whatever brand is available for him to buy and he is not particular about the name, the size or content of the product he is buying.
Answer:
A. slopes upward for normal goods and downward for inferior goods.
Explanation:
In the case of Engle curve it plots the relationship between income and demand for a good.
In the case of the normal goods, as the income rises the demand also rises while on the other hand in the case of inferior goods, the income rises the demand false
So it sloped upward for the normal goods and slop downwards for the inferior goods
Answer:
May 24
Dr Retained earnings $1,500
Cr Cash $1,500
Being cash dividend paid to shareholders.
October 11
Dr Advertising Expense $1,000
Cr Cash $1,000
Being cash payment for monthly advertising expenses.
Explanation:
Rules:
Debit side:
Increase in asset
Increase in expense
Decrease in liability
Decrease in equity
Decrease in income or sales
Credit side:
Decrease in asset
Decrease in expense
Increase in liability
Increase in equity
Increase in income or sales
May 24
Dr Retained earnings $1,500
Cr Cash $1,500
Being cash dividend paid to shareholders.
October 11
Dr Advertising Expense $1,000
Cr Cash $1,000
Being cash payment for monthly advertising expenses.
