Answer and Explanation:
The journal entry to record the establishment as follows:
On Sep 1
Petty cash Dr $300
To Cash $300
(being the establishment of the fund is recorded)
Here the petty cash would be debited and cash would be credited so that the proper recording could be done
This question is incomplete. The complete question should be:
Suppose the market for cars is unregulated. That is, car prices are free to adjust based on the forces of supply and demand.
If a shortage exists in the car market, then the current price must be ____ than the equilibrium price. For the market to reach equilibrium, you would expect ______.
Answer:
If a shortage exists in the car market, then the current price must be <u>lower</u> than the equilibrium price. For the market to reach equilibrium, you would expect <u>buyers to pay higher prices.</u>
Explanation:
When demand is equal to supply in a market, the the market is said to be at equilibrium.
In a market for cars, the equilibrium price is the price at which cars are sold when demand for cars equals the supply of cars into the market.
If the price of cars in the market drops lower than the equilibrium price, <u>then there will be an increase in demand for cars. Without a corresponding increase in supply of cars, the market will experience a shortage of cars.</u>
For the market to reach equilibrium, prices will have to rise and car buyers will have to pay higher prices.
Answer: B) Organizing
Explanation: Organizing in a business aspect means making preparations for an activity or an event. It involves delegating authority, grouping duties into different sections, assigning duties, and assigning resources to various parts of the organization. Sally Mitchell is engaging in all these aspects in the case study.
Other definitions that don't apply here are explained below.
A) Planning - INCORRECT. Planning is the first step towards creating an event or activity. It is the process of brainstorming and thinking about what is needed to achieve a goal.
C) Scrutinizing - INCORRECT. Scrutinizing means thoroughly evaluating or inspecting something.
D) Controlling - INCORRECT. This is a function done by management that involves comparing set standards to actual standards to confirm that tasks have been performed in accordance with the plans set.
E) Envisioning - INCORRECT. This means to visualize a possibility that can occur in the future.
Answer:
Cost of Truck = $26360
Explanation:
given data
cash price = $22,280
accident insurance = $1,940
sales taxes = $1,730
motor vehicle license = $250
painting and lettering = $2,350
solution
we know that Accidental insurance and the vehicle license are not include in cost of truck because there are yearly cost so that cost of the truck will be as
cost of the truck = cash price + sales taxes + painting and lettering ..............1
put here value we get
Cost of Truck = $22,280 + $1,730 + $2,350
Cost of Truck = $26360
