Answer and Explanation:
As we know that
The assets, expenses contains debit balance while the liabilities, revenues and stockholder equity contains credit balance
So based on this, the classifications are as follows
Particulars Type of account Normal balance Debit or credit Reason
a. Land Asset debit debit resources on the owners hand
b. Cash Asset debit debit resources on the owners hand
c. Legal Expense = expense debit debit consumption of cost
d. Accounts Receivable Asset debit debit resources on the owners hand
e. Dividends = Equity debit debit distribution made to owners
g. Notes Payable = Liability credit credit obligation made to creditors
h. Common Stock = Equity credit credit investment done by the owners
Answer:
Businesses that produce good products are rewarded with profits
Explanation:
In the free enterprise system, governments do not interfere with economic activities in the country. The private sector does all the production and distribution of goods and services.
No restrictions are put in place on the type or number of businesses that entrepreneurs can operate. Due to this reason, business competition is very intense. Customers choose their preferred products from a wide variety offered by the many suppliers. Producers who make products that satisfy customers' needs are rewarded with profits.
Answer:
Limited liability means the business owners' liability for debts is restricted to the amount they put into the business. With unlimited liability, the business owner is personally responsible for any loss the business makes.
Explanation:
Answer:
Variable cost per unit = $4.60
Explanation:
To calculate the element of variable cost in a mix cost using high-low method, we need to take the cost of the highest activity level and subtract the cost of the lowest activity level from it and divide the answer by the difference between the highest and the lowest activity levels.
<u>High-low method</u>
- Variable cost per unit = (Highest Activity Cost - Lowest Activity Cost) / (Highest Activity Units - Lowest Activity Units)
- Variable cost per unit = (66436 - 60226) / (2660 - 1310) = $4.60 per unit
The cause was the huge increase of mortgage rates and caused the economy to crash. also Obama. no just kidding only idiots ay that it was him because he hadn't been the president for a year yet so yeah.
