Answer:
$1.00
Explanation:
The equilibrium price is the prevailing market price represented by the intersection of the demand and supply curve. At the equilibrium price, the quantity demanded and quantity supplied match. It means that there are no shortages or excesses in demand or supply at the equilibrium price.
From the graph, $1 is the equilibrium price. It is the intersection of demand and supply curves.
Answer:
Option E is the correct answer
5300$ is the correct answer.
Explanation:
Credit Sales = $800000
Uncollectible net sales = $800000*0.6% = $4800
Hence, balance in Allowance for uncollectible accounts after adjustment should be $4800 credit
Balance already in the account = $500 debit
Hence, adjustment required is $5300 credit
Answer:
$1,300 billion
Explanation:
total private consumption = nondurable goods spending + durable goods spending + spending on services = $200 billion + $400 billion + $700 billion = $1,300 billion
New residential housing spending ($500 billion) are considered residential investments, not part of private consumption.
Answer:
c. Dividends
Explanation:
Whenever, dividends are recorded as a liability then that amount is charged against retained earnings, but the final entry for payment of dividend =
Dividend A/c Dr. $670
To Cash A/c. $670
Also at the time of recording as an expense, entry will be
Retained Earnings A/c Dr. $670
To Dividend A/c $670
Since retained earning balance will be reduced and finally cash balance will also be reduced.
Therefore, entry for payment will include debit to
c. Dividends
