Answer:
D) Debit income summary 187000, credit revenues 187000
Explanation:
When dividend is declared, following journal entry is passed
Retained Earnings Dr.
To Dividend Payable
(Being declared dividend recorded)
When dividends are actually paid, the journal entry is
Dividend Payable A/C Dr.
To Cash A/C
(Being dividend paid recorded)
Income summary account is prepared as a temporary account while income statement represents permanent account.
Income summary shows net income balance i.e Revenue less expenses.
As per the given information in the question, debiting income summary account with total revenues of $187000 would be wrong.
Answer:
D. classical economists the adjustment of prices to changes in the money supply is instantaneous, while economists today argue that this adjustment process takes some time.
Explanation:
The difference between the classical and modern understanding of the price level is highlighted in the Classical and Keynesian theories. The Classical model assumes that the economy moves towards full employment and is self-adjusting. It also stipulates that prices and wages are flexible based on the demands at the present time. So it simply explains changes in the short-run which automatically resolve themselves without requiring and external help from the government or any other source.
The Keynesian model was developed after the Great Depression when there was massive unemployment. It holds that the economic output reflected in the real GDP, as well as price level, can remain below its optimum potential for a long period of time, thus requiring external factors to stabilize them. Therefore, the adjustment process takes some time to be fully resolved.
Price is the amount charged by the company for its goods or services. The price to be charged by the company to earn a profit of $2 is $8.
<h3>What is Price?</h3>
Price refers to the quantity of money charged for a product or service. Simply, price is the value of a good or service. It s an important element of the marketing mix.
The given question states that three percent of the product of the company are faulty and costs the company $200. The company desires to make a profit of $2 per product.
Let x be the price per product.
The price to be charged for each product can be determined as:
Therefore the price to be charged is $8.
Learn more about price here:
brainly.com/question/25300841
The formula is to calculate stock price through dividend discount model is
Share price = Dividend/(rate of return - dividend growth rate)
=$1.34/(5%-3%)
=$67
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