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matrenka [14]
3 years ago
13

Ttttthhhhheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee accounf is not working

Business
1 answer:
frez [133]3 years ago
8 0

Answer:

Step by step explanation

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In economics, decisions are necessary because ________ are scarce, while ________ are practically unlimited.
sasho [114]

In economics, decisions are necessary because resources are scarce, while wants and needs are practically unlimited.

<h3>What is economic?</h3>

Economics examines how products and services are produced, distributed, and consumed as well as the decisions that people, corporations, communities, and countries make when distributing funds.

There are enormous people who are living in this world and all of them have some kind of need or want them to need to fulfill and also which means that there will be limited resources that will be available to them in the near future also.

Learn more about economics, here:

brainly.com/question/14355320

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3 0
1 year ago
​sheldon goes to the grocery store to buy a few items, and when he gets there he can remember only the last few things that he w
jenyasd209 [6]
The answer is recency effect. The recency effect happens when you only remember the things or events that just happened in a recent time.In this case, Sheldon is showing the recency effect because he only remembered the last part of the list that he was going to buy. If Sheldon had remembered the first part, then he is experiencing the Primary effect, which is the opposite of recency effect
5 0
3 years ago
Read 2 more answers
Equipment in general governmental service that had been acquired several years ago by a special revenue fund at a cost of $40,00
vivado [14]

Answer:

D. A credit to Other Financing Sources for $5,000.

Explanation:

As the equipment is used for governmental service and sold, the journal entry to record the disposal is as follows:

Debit    Cash                                                 $15,000

Debit    Accumulated Depreciation             $30,000

Credit                 Equipment                                      $40,000

Credit                 Gain on sale of equipment            $5,000

Calculation: Book value of equipment = Cost price - Accumulated depreciation = $40,000 - $30,000 = $10,000

Therefore, Gain on sale of equipment = Disposal value - Book value = $15,000 - $10,000 = $5,000.

Therefore, option A is correct. Option B is also correct. Option C is also correct. Therefore, option D is not correct and it is the answer as it will not include in the journal.

7 0
3 years ago
Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Dete
storchak [24]

Answer:

The cost of goods sold using the LIFO menthod is;

d. $3,580

Explanation:

Last in First Out (LIFO) method is an inventory method where the recently purchased good is sold first. This means that when accounting for the cost of goods sold, we use the unit cost of the goods that were purchased recently. In our case;

1 Beginning Inventory 150 units @ $10.00

5 Purchase 220 units @ $12.00

10 Sales 140 units @ $20.00

15 Purchase 100 units @ $13.00

24 Sales 150 units @ $21.00

<em>Step 1: Determine total number of units sold;</em>

Total number of units sold=number of sales on May 24+number of sales on May 10

where;

number of sales on May 24=150 units

number of sales on May 10=140 units

replacing;

Total number of units sold=(150+140)=290 units

Total number of units sold=290 units

<em>Step 2: Determine total cost of goods sold</em>

The first 100 units sold were each sold at $13

The remaining 190 units were each sold at $12

Total cost of goods sold=(100×13)+(190×12)=(1,300+2,280)

Total cost of goods sold=$3,580

5 0
3 years ago
Larkspur, Inc. had net sales in 2020 of $1,447,100. At December 31, 2020, before adjusting entries, the balances in selected acc
Zielflug [23.3K]

Answer:

The entry to record bad debt expense:

Debit Bad debts expense $24,446

Credit Allowance for Doubtful Accounts $24,446

Explanation:

1. At December 31, 2020,

Bad debt are estimated: 11% x $204,600 = $22,506

Before adjusting, Allowance for Doubtful Accounts had a debit balance of $1,940. So Bad debt expense will be: $1,940 + $22,506 = $24,446

The adjustment to record Bad debt expense and Allowance for Doubtful Accounts:

Debit Bad debts expense $24,446

Credit Allowance for Doubtful Accounts $24,446

6 0
3 years ago
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