Explanation:
The journal entries are shown below:
a. Inventory Dr $23,500
To Account payable $23,500
(Being inventory purchased on credit)
b. Account payable Dr $4,200
To Purchase return $4,200
(Being the return of the inventory is recorded)
c. Account payable Dr $19,300
To Cash $19,300
(Being the payment of the invoice is recorded)
Answer:
$11,650
Explanation:
The adjusted cash balance per bank at August 31 2022 is calculated as;
= Cash balance per bank - Outstanding checks + Deposits in transits
Given that;
Cash balance per bank = $10,690
Outstanding checks = $840
Deposits in transits = $1,800
= $10,690 - $840 + $1,800
= $11,650
Therefore the adjusted cash balance per bank is $11,650. It means that the cash balance per bank statement has to be adjusted to accommodate outstanding checks and deposits in transit. For outstanding checks , they are checks that have not yet been found on the bank statement , while deposits in transit are those deposits, that have not yet been found or appear on the bank statement.
Answer:
The correct answer is: the additional product generated by additional units of an input will eventually diminish.
Explanation:
The law of diminishing marginal returns states that with each additional unit of input employed the marginal product of each additional input will go on declining.
This is why the total product will increase at first but after reaching a certain point it will start declining. The total product will be maximum at the point where the marginal product is zero. When marginal product becomes negative the total product will decline.
Answer:
Earnings Per Share = $3.6
Explanation:
Given
Net Income Average = $33,480
Weighted-average common shares outstanding = 9,300
Shares sold = 4,300
Required
Calculate the company's earnings per share.
Earning per share is calculated as thus;
Let N represent the Net Income; P represent the Preferred Dividend and W represent the Weighted-average common shares outstanding
The question says there was no preferred stock;
So, P= 0
Substitute $33,480 for N and 9,300 for W.
The formula becomes;
Hence, the calculated Earnings per share of Mayan company is $3.6
<span>The point of the long-run aggregate supply curve.
I hope this helps!
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