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Anvisha [2.4K]
3 years ago
14

Martinez Corp. has the following transactions during August of the current year.

Business
1 answer:
Vinvika [58]3 years ago
6 0

Answer:

Aug 1

Cash                                      $10930 Dr

     Common Stock                      $10930 Cr

Aug 4

Prepaid Insurance                  $1760 Dr

      Cash                                       $1760 Cr

Aug 16

Cash                                 $810 Dr              

    Service Revenue               $810 Cr

Aug 27

Salary Expense                     $570 Dr

       Cash                                     $570 Cr

Explanation:

Aug 1

The receipt of cash in exchange of common stock is recorded as a debit to cash which is an asset and a credit to common stock which is capital

Aug 4

Prepayment of any expense is recorded as a current asset. Thus, prepaid insurance is debited as asset increases and cash is credited as cash decreases.

Aug 16

The receipt of cash in exchange of service provision is recorded as a credit to service revenue and a debit to cash

Aug 27

Payment of salary is an expense and is recorded as a debit to salary expense and a credit to cash.

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The type of selection methods which are used to narrow down a list of finalists to those who will receive job offers is called Discretionary Method.

Picking from a list of universities one would like to attend is the hardest decision to make. However, it is crucial to take into account a number of criteria while selecting the best decision. When you have a long list of options, the registrars will find it simple to advise you on which is best.

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1 year ago
13. In a market system, how are the terms of exchange established? a. Consumer advocacy groups establish fair prices for items,
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The forces underlying supply and demand interact to determine the market price.

<h3><u>Explanation:</u></h3>

The persons involving in the activities of trading comprises the market system. It includes sellers, buyers and others involved in trading process. They also includes the buyers, consumers, producers who are the major players of the market system who determines the economic activity in it.

The supply and demand law is the major determinant of the production of goods and services in a market economy. The natural resources, land, capital and labor are the supplies. The purchasing power of the government, consumers and business are the demands. The forces underlying supply and demand interact to determine the market price.

3 0
4 years ago
The Grind coffee shop offers drink cards to purchasers of its gourmet coffees with ten spaces. The cashier punches one space wit
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A unilateral contract
With each cup of coffee purchased, the cashier punches a space. The card can be used to redeem a free coffee once all ten spaces have been punched. This serves as an illustration of a unilateral contract.
-Unilateral contract - A unilateral contract
explicitly states that payment will only be provided in exchange for performance by one side. A prize or a competition is another illustration of a unilateral contract. In a unilateral contract, the offeror has the right to withdraw it prior to the offeree's commencement of performance. Usually, the revocation must be made in writing. An insurance policy contract, which is typically only partially unilateral, is an illustration of a unilateral contract. The offeror is the sole party having a contractual responsibility in a unilateral contract. Most unilateral agreements are one-sided.
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2 years ago
Smallville has a linear production possibility frontier in the production of good X and good Y. It can produce 6 of X per hour o
aliina [53]

Answer:

The maximum amount of good Y produced will be 960.

Explanation:

Smallville has a linear production possibility frontier in the production of good X and good Y.

It can produce 6 of X per hour or 8 of Y per hour.  

It has 240 hours of labor and divides labor hours equally between the production of good X and good Y.

It means that both good X and good Y get 120 hours of labor each.  

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Explanation:

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