Answer: False
Explanation:
The aim of the business is to ideally make a profit. As a result, Additional business should only be accepted if the incremental cost of doing so is less than the incremental revenue accrued from doing so.
If incremental revenue equals incremental cost, there is no point in engaging in the additional business as it brings no extra value to the business.
Answer:
For ACME Corporation = 1.12 times
For Wayne Enterprises = 1.29 times
Explanation:
The computation of current ratio is shown below:-
For ACME Corporation
Current Ratio = Total Current Assets ÷ Current Liabilities
= $12,767 ÷ $11,299
= 1.12 times
For Wayne Enterprises
Current Ratio = Total Current Assets ÷ Current Liabilities
= $9,538 ÷ $7,410
= 1.29 times
Here, we assume first figure for ACME Corporation and second figure for Wayne Enterprises
The equation becomes 7-10 which equals -3
Answer:
rent expense 2400
Prepaid Rent 2400
--expired rent--
Deferred Revenue 750
Service Revenue 750
--acrued revenue--
Salaries expense 700
salaries payable 700
--accrued salaries--
Supplies 3200
supplies expense 3200
--supplies used--
The trial balance is attached.
Explanation:
a) 7,200 is the contract value for 6 months
we divide by 6 month and then, we multiply by 2 month accrued for the year (november and december)
b)we decrease the portion earned and recognize the gain
c) we recognize a liability and the wages expense associate for this wages
d) the difference between the book value and supplies on hand will be considered consumption so, supplies expense
For the ajusted trial balance, we will adjust the balance of eahc account considering the beginning balance
Answer:
The correct answer is option E.
Explanation:
A monopoly is a market where there is only single producer or seller. There are restrictions on entry in the market. The firms in the monopoly are price makers. That is why they have a downward sloping demand curve.
There are no close substitutes for the product and there is only one seller in the monopoly.
The firm may earn profit or loss or profits in the short run based on its revenue and cost conditions.
So, all the options given are correct.
