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bezimeni [28]
2 years ago
15

For the entries below, identify the account to be debited and the account to be credited. Indicate which of the accounts is the

income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. Entry to record consulting services performed but not yet billed or recorded. Entry to record service revenues performed but not yet billed or recorded. Entry to record rent expense incurred but not yet paid. Entry to record expiration of prepaid rent. Entry to record supplies used as supplies expense.
Business
1 answer:
Ksju [112]2 years ago
8 0

I do not Know this answer hey hey

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demand and marginal revenue curves are downward-sloping for monopolistically competitive firms because
Brrunno [24]

Demand and marginal revenue curves are downward-sloping for monopolistically competition firms because: a. product differentiation allows each firm some degree of monopoly power.

<h3>What is product differentiation?</h3>

Product differentiation  can be defined as what makes a product to different from another product which is why some producer tend to include a unique features in their so as to make their product distinct from that of others.

A monopolistic competitive firms can tend to  face a downward - sloping demand curve based on the fact that it help to differentiate their product from that of others competitors.

Therefore the correct option is A.

Learn more about Product differentiation here: brainly.com/question/8107956

#SPJ1

The complete question is:

Demand and marginal revenue curves are downward-sloping for monopolistically competition firms because...

a)product differentiation allows each firm some degree of monopoly power

b)there are a few large firms in the industry and they each act as a monopolist

c)mutual interdependence among all firms in the industry leads to collusion

d)each firm has to take the market price as given

6 0
1 year ago
Assume Metro Corporation had a net income of $ 2,200 for the year ending December 2018. Its beginning and ending total assets we
Aleksandr-060686 [28]

Answer:

The return on assets is 8.4%

Explanation:

In order to calculate the return on assets we will first need to find the average total assets. We will do this by adding the beginning and ending total assets and dividing it by 2.

Average total assets= (31,500+20,500)/2= 26.000

Now in order to find the return on assets we will divide the net income by the average total assets.

Return on assets = 2,200/26,000=0.084=8.4%

7 0
3 years ago
A government's comprehensive annual financial report (CAFR) is divided into three main sections. The statements, schedules, tabl
Savatey [412]

Answer:

Step wise detailed solution is given in the attached diagram

3 0
2 years ago
Listed below are some items found in the financial statements of Tony Gruber Co. Indicate in which financial statement(s) the fo
ss7ja [257]

Answer:

The correct financial statement for the respective items is:

a) Service Revenue - Income statement.

b) Equipment - Statement of financial position.

c) Advertising expense - Income statement.

d) Accounts receivable - Statement of financial position.

e) Owner’s capital - Statement of financial position.

f) Salaries and wages payable - Statement of financial position.

Explanation:

a) Service Revenue - Service revenue refers to the sales generated from the services provided/offered by the business to its customers. Service revenue is an item of the income statement and appears on the credit side amongst revenues/incomes list.

b) Equipment - Equipment in accounting is used to refer tangible items such as plant, property and motor vehicle which are expected to be used for production for longer than one accounting period. They are tangible items and form part of the statement of financial position under the non-current assets.

c) Advertising expense - Advertising expense refers to operating expense incurred by the business in advertising its products/services. It is an item of the of the income statement and appears on the debit side amongst expenses list.

d) Accounts receivable - The term accounts receivable refers to all the payments a business is expecting for goods or services it provided to its customers on credit. It is a part of the statement of financial position and appears under the current accounts.

e) Owner’s capital - Also known as the owner's equity, owners capital  refers to all the investment the owner has put into the business.This maybe in the form of funds or assets. It is a part of the statement of financial position and appears under the Capital  and retained earnings / losses accounts.

f) Salaries and wages payable - Salaries and wages payable refers to salaries and wages due/owed to the business's employees for prior periods.It is part of the statement of financial position and appears under the current liabilities accounts.

6 0
3 years ago
The three important elements of a​ firm's business model are its target​ market, its basis for​ differentiation, and its​ ______
wlad13 [49]

Answer:

SEGMENTATION

Explanation:

The important elements involved of a firms business model are its TARGET market basis for differentiation and it segmentation these three elements involved results into important elements of a business model.

6 0
3 years ago
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