<span>A situation in which quantity demanded is greater than quantity supplied best describes shortage. Shortage is when any product or service lacks the means to provide or satisfy its demand. A shortage in the product or service usually results to a price increase. On the other hand, a surplus results to a price decrease.</span>
Answer:
The journal entries for the given economic events are given below:
Date Account Title Debit Credit
7/1/17 Treasury Stock (113 X $88) 9,944
Cash 9,944
9/1/17 Cash (62 X $94) 5,828
Treasury Stock (60 X $88) 5,280
Paid-in Capital from
Treasury Stock 548
(Paid in capital from Treasury Stock = 5828 - 5280 = 548)
11/1/17 Cash (51 X $86) 4,386
Paid-in Capital from
Treasury Stock 102
Treasury Stock (51 X $88) 4,488
(Paid in capital from Treasury Stock = 4488 - 4386 = 548)
Answer:
Budgeted sales:
Product XXX= $2,630,000
Product ZZZ= $6,304,000
Total sales= $8,934,000
Explanation:
Giving the following information:
Product XXX Sales in units:
Region I= 336,000 units
Region II= 190,000
Selling price per unit= $5
Product ZZZ Sales in units:
Region I= 254,000 units
Region II= 140,000 units
Selling price= $16.
<u>The budget sales for the period is simply a multiplication of the number of units to de sold and the selling price per unit.</u>
<u></u>
Budgeted sales:
Product XXX= (336,000 + 190,000)*5= $2,630,000
Product ZZZ= (254,000 + 140,000)*16= $6,304,000
Total sales= $8,934,000
Answer: thinning the assets
Explanation:
Thinning the assets refers to the reduction of the burden of an asset on the buyer by the seller do that the business can be priced at a reasonable value for the buyer. It is done to make a business more affordable.
Since Alice decided to lease the equipment and fixtures from the original owner rather than buying it outright to save money initially, this is thinning the assets.
