A company has four vendors and the accounts payable subsidiary ledger shows the following balances.

As the average income in China continues to increase, explain how the following will change: a. The demand for beef b. The dem

7nadin3 [17]

Answer:

C. increase if beef is a normal good; decrease if rice is an inferior good.

Explanation:

As the average income in China continues to increase, we would expect the demand for beef to increase if beef is a normal good and the demand for rice to decrease if rice is an inferior good.

Normal goods are goods whose demand increase with the increase in income of consumer, however, demand decreases with the decrease in the income of consumer as we know Income is a key factor, which affect the demand of goods and services. Examples of Normal goods are Beef, Pizza, etc.

Inferior goods are goods whoes demand decreases with the increase in income of consumer, however, demand increases with the decrease in the income of consumer. Examples of Inferior goods are Cereal, Rice, non branded noodles etc.

7 0

3 years ago

Latoya has $113.94 in her checking account. During the week she goes to an atm and withdraws $40. she is charged a usage fee of

Maksim231197 [3]

She has 168.49 in her bank account

3 0

3 years ago

On July 1, 2022, Cullumber Co. pays $ 22,400 to Pharoah Insurance Co. for a 4-year insurance contract. Both companies have fisca

Brrunno [24]

Journal Entries in the books of Pharoah Insurance Co are as follows:

Date Account Titles and Explanation Debit Credit

July 1, 2022 Cash $22,400

Unearned Service Revenue $22,400

To record the receipt of payment for insurance contract for 4 years.

Date Account Titles and Explanation Debit Credit

December 31, 2022 Unearned Service Revenue $2,800

Service Revenue $2,800

To record the service revenue earned from July 1, 2022 to December 31, 2022.

Data Analysis:

July 1, 2022 Cash $22,400 Unearned Service Revenue $22,400

December 31, 2022 Unearned Service Revenue $2,800 Service Revenue $2,800 ($22,400 x 6/48)

Thus, only $2,800 is credited to the Service Revenue account for the year ended December 31, 2022.

Learn more on adjusting Unearned Service Revenue at brainly.com/question/14783594

3 0

3 years ago

1. Idea 1:

tiny-mole [99]

Answer:

Steps to Solving the Problems With Your Problem Solving

Step 1: Pin the Problem. Clearly define the issue at hand. ...

Step 2: Identify the Issues. Start breaking down the problem into subcomponents. ...

Step 3: Generate Hypotheses and Prioritize Proving Them. ...

Step 4: Conduct Your Analysis. ...

Step 5: Advance Your Answer

8 0

3 years ago

One contributor to the easy with which young entrepreneurs can have success is low-cost distribution to massive markets worldwid

quester [9]

Answer:

app stores

Explanation:

An App Store refers to the digital storefront designed to enable the check and study of digitally offered software titles or other media for sale. Analytically, the storefront application itself offers a safe, standardized experience that simplifies the acquisition, decoding, and configuration of software packages or any other electronic media.

Usually, app stores arrange the applications they sell on the basis of: the function(s) offered by the app (including gaming, graphics or productivity), the platform the app was built for and the operating system upon which app will be working.

8 0

3 years ago