Answer:
No. Account Titles & Explanation Debit Credit
1.
Cash $38,000
Barry Capital Account $38,000
2.
No Entry Requires as Employee are only Hired there id no financial transaction involved in hiring the employees only.
3.
Prepaid Rent $10,800
Cash $10,800
4.
Wages Expense $500
Cash $500
5.
Cash $2,900
Revenue $2,900
Explanation:
1. Cash paid is the capital contribution in the business so cash account will be debited and capital account will be credit as per their nature.
2. Hired an employee does not need any transaction as there is no financial involvement in just hiring an employee.
3. Prepaid expense is actually an asset for us as we paid expenses in advance which is not incurred yet. It will be recognized as expense with passage of time.
4. Payment to worker is an expenses against a credit to cash as wage is paid in cash.
5. Revenue earned should be recorded and also received so cash will be debited for the receipt from sales and revenue shold be debited due to its nature of account.
Answer: B. regressive taxation
Explanation:
Regressive taxation is a form of taxation where people who earn higher income pay a less percentage of income as tax while those who earn less income pay a higher percentage of income as tax.
Progressive taxation is a form of taxation where people who earn higher income pay a higher percentage of income as tax and those who earn less income pay a lower percentage of income as tax.
Answer:
This is called deflation.
Explanation:
Deflation refers to the situation when there is a decline in the general price level, it causes the economy to slow down. It generally happens because of a reduction in the money supply.
The nominal costs of goods and services, labor, capital, etc. decline. But the relative prices, generally remain the same. '
The decline in price is not good for everyone and adversely affects producers. It is also harmful to borrowers. The decline in the price level increases the purchasing power of money.
Answer:
the estimated total cost for the coming year is $12,227.60
Explanation:
The computation of the estimated total cost is shown below:
y
= Constant coefficient + independent variable coefficient × number of horses
= $5,240.20 + $22.54 × 310 horses
= $5,240.20 + $6,987.40
= $12,227.60
This is the answer but not the same is to be given in the options
hence, the estimated total cost for the coming year is $12,227.60