Answer:
Whereas the SRAS curve is upward sloping, the LRAS curve is vertical because, given sufficient time, all costs adjust.
Explanation:
For long-lived assets that have been in use for more than one accounting period, Depreciation Expense on the debit. Accumulated Depreciation on the credit.
Therefore, the entry that was made by the accountant, assets and stockholders' equity will be decreased.
- Depreciation simple defined as the allocation of the cost of a long-lived, tangible asset over its useful life making an expense on the income statement that is matched against the revenue gotten by the use the asset.
The effect of recording depreciation expense on the accounting equation is that Total assets decrease and Total stockholders' equity decreases
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Ray kroc first became involved with mcdonalds as a salesman selling : Milkshake - mixer
He became fascinated by the possibilities that Mcdonalds could offer and became the first one who propose to make McDonalds became a franchise
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Answer:
S/N Account Titles and Explanation Debit Credit
A Supplies $5,300
Cash $5,300
(To record the purchase of supplies for cash)
B Salaries and wages expense $
4,480
Cash $4,480
(To record the payment of wages and salaries)
C Prepaid rent $
560
Cash $560
(To record the payment of prepaid rent for July)
D Accounts receivable
$13,400
Service revenue $13,400
(To record the services provided on account)
E Accounts payable $800
Cash $800
(To record the payment made on Accounts payable)
F Cash $310
Unearned revenue/Deferred revenue $310
(To record the unearned services revenue)
G Repairs and maintenance expense $410
Accounts payable $410
(To record the accounts payable for repairs expenses incurred)
H Equipment $740
Cash $740
(To record the purchase of equipment for cash)
Answer: Cultural integrator
Explanation: A cultural integrator is a person very conversant the culture of a particular society, community,business environment and organization employed to advice management of a firm on how to act,carry out activities or implement it's plans and program in a particular locality, this to ensure the firm obeys and work Accord to the laws of the local culture which will eventually lead to harmonious coexistence between the firm and it's environment.
