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2 years ago

An increase in demand and an increase in supply will lead to:_______

Business

1 answer:

Westkost [7]2 years ago

6 0

Answer:

increase in the equilibrium quantity

Explanation:

The equilibrium quantity for a product is defined as a point where the supply of a product is equal to the demand of that product. The demand curve as well as the supply curve have opposite trajectories and they eventually intersects creating an economic equilibrium and a equilibrium quantity.

Whenever there is an increase in the supply and an increase in the demand of a product, it will lead to the increase in the equilibrium quantity of the product.

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Susan threw away in the garbage an old chair that had been in her family for many years by placing it on the curb with the rest

rewona [7]

Answer:

It belongs to Alma because Susan abandoned it and Alma took possession of it

Explanation:

By common law, Alma is a person who has found an abandoned property and she may claim it. To do this, she has to take some definite steps to show her claim. Alma can claim this abandoned piece of chair by taking it into her house, or by placing a sign on it to show that she now owns it.

If Susan was to take this to court, the court would determine the kind of item and where it was found to determine if Alma has a right to it. But since it was found in a dump site she now has the right to it.

5 0

3 years ago

For each separate case below, follow the three-step process for adjusting the unearned revenue liability account at December 31

Vadim26 [7]

Answer:

1. Assume no other adjusting entries are made during the year a. Tao Co. receives $10,000 cash in advance for four months of legal services on October 1, 2017, and records it by debiting Cash and crediting Unearned Revenue both for $10,000. It is now December 31, 2017, and Tao has provided legal services as planned. hat adjusting entry should Tao make to account for the work performed from October 1 through December 31, 2017?

Step 1: Unearned Revenue has a credit balance of $10,000

Step 2: Unearned Revenue should have a credit balance of $2,500 only.

Step 3: Adjusting Journal Entry:

Debit Unearned Revenue $7,500

Credit Service Revenue $7,500

To record revenue for services performed to December 31, 2017.

2. Caden started a new publication called Contest News. Its sub subscriber, Caden debits Cash and credits Unearned Subscription Revenue for the amounts received. The company has 100 new subscribers as of July 1, 2017. It sends Contest News to each of these subscribers every month from July through December Assume no changes in subscribers, prepare the journal entry that Caden must make as of December 31, 2017, to adjust the Subscription Revenue account and the Unearned Subscription Revenue account pay $24 to receive 12 monthly issues.

Step 1: Unearned Subscription Revenue has a credit balance of $2,400

Step 2: Unearned Subscription Revenue should have a credit balance of only $1,200.

Step 3: Adjusting Journal Entry:

Debit Unearned Subscription Revenue $1,200

Credit Subscription Revenue $1,200

To record subscription revenue for services performed to December 31, 2017.

Explanation:

Tao Co and Caden follow the three-step process of adjusting unearned revenue liability accounts at year-end. The purpose of the steps is to ensure that correct amounts remain as balances in the unearned revenue accounts. The steps also help to adjust the Earned Revenue account to its proper amount in recognition of goods or services provided in accordance with the accrual concept and the matching principle of generally accepted accounting principles.

8 0

2 years ago

Revenue is properly recognized: Multiple Choice When the customer makes an order. Only if the transaction creates an account rec

Marianna [84]

Revenue in a business transaction is recognized When goods or services are provided to customers and at the amount expected to be received from the customer.

<h3>What is revenue?</h3>

Refers to the amount paid to a company for the provision of goods and services.
Can only be recognized when that good or service has been provided to the customer.

Until a good or service is provided to the customer who bought it, revenue should not be recognized because it has not been earned by a company.

In conclusion, option C is correct.

Find out more on revenue recognition at brainly.com/question/1380073.

3 0

2 years ago

Changing the prices of products based on the level of demand characteristics of the customer is called ________ pricing.

Airida [17]

Changing the prices of products based on the level of demand characteristics of the customer is called dynamic pricing.

Personalization is the use of customer data to create or modify items to meet individual needs. Customization is the manual modification of an item by a customer to meet their needs and requirements. Content streaming services are perhaps the most famous example of the subscription business model.

Internet technology reduces demand information costs by enabling price transparency (making it easier for consumers to find different prices) and cost transparency (making it easier for consumers to see the true cost of a product). and improve information quality.

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6 0

1 year ago

In November, two months before year-end, the bookkeeper erroneously recorded the receipt of a one year bank loan with a debit to

OleMash [197]

In November, two months before year-end, the bookkeeper erroneously recorded the receipt of a one-year bank loan with a debit to cash and a credit to interest revenue. The most effective method for detecting this type of error is to Send a bank confirmation as of year-end.

A business may additionally have sales in a given time period that includes invoices they have got sent out to customers, in addition to coins bills that have been made at the time of a buy. All of these incomes are included as revenue during that term.

Sales are described as the profits generated through a commercial enterprise' number one operations. Its miles are often known as the “pinnacle line” and are proven at the top of an earnings announcement. internet income is an accounting time period that refers to the entire revenue minus the entire costs for any given length.

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7 0

11 months ago