Answer:
Amount Debit($) Credit($)
Assets
Cash 37,641
Office Supplies 890
Prepaid Insurance 4,600
Office Equipment 12,900
Liabilities
Accounts Payable 12,900
Equity
Y. Min, Capital 18,000
Y. Min, Withdrawals 3,329
Revenue
Engineering Fees Earned 36,000
Expenses
Rent Expense <u>7,540</u>
Total 66,900 66,900
Explanation:
Trial Balance sheet includes all the accounts available in ledger.
Assets, Liabilities, Equity Revenue and expenses are added, however they are not given in our case
Amount Debit($) Credit($)
Assets
Cash 37,641
Office Supplies 890
Prepaid Insurance 4,600
Office Equipment 12,900
Liabilities
Accounts Payable 12,900
Equity
Y. Min, Capital 18,000
Y. Min, Withdrawals 3,329
Revenue
Engineering Fees Earned 36,000
Expenses
Rent Expense <u>7,540</u>
Total 66,900 66,900
Answer:
$100
Explanation:
A binding price ceiling will artificially set a maximum price for a product, but that doesn't mean that the supplier will be willing to supply goods at that price. Binding price ceilings result in shortages, since the quantity demanded increases, while the quantity demanded decreases. This results in a loss of economic benefit known as deadweight loss.
As seen in the attached graph, the deadweight loss is equal to the area beneath the demand curve and above the supply curve, to the left of the equilibrium price.
Answer:
$140 million
Explanation:
Given that,
Ending Retained Earnings = $1,140 million
Beginning Retained Earnings = $1,200 million
Net Income = $80 million
Ending Retained Earnings = Beginning Retained Earnings + Net Income - Dividends
$1,140 million = $1,200 million + $80 million - Dividends
Dividends = $1,200 million + $80 million - $1,140 million
= $140 million
Therefore, the dividend of $140 million were paid to shareholders during the year.
To me, this sounds like the Human resource department.
