Answer:
If a price is too high to clear the market, that means the quantity of supplies have exceeded the amount that is demanded.
Explanation:
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Answer:
C. $737,500
Explanation:
The formula to compute the ending balance of retained earning is shown below:
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
= $659,000 + $220,000 - $141,500
= $737,500
The net income is calculated below:
= Sales revenues - expenses
$600,000 - $380,000
= $220,000
Beginning balance 10000
Add service on account 50000
Less ending balance 12000
Received from customers
10,000+50,000−12,000=48,000
Hope it helps!
Answer: The correct answer is "(A) Materiality.".
Explanation: The concept demonstrated is Materiality because by having a mechanism for preventing bad accounts through their strict requirements, they only recorded bad accounts when they actually existed, instead of making a provision.
