Answer:
the United States Congress
Explanation:
Hope this helps :3
Answer:
Option C. A debit to Equipment for $620, a credit to Cash for $140, and a credit to Accounts Payable for $480.
Explanation:
The reason is that the equipment has been acquired by the business which is worth $620 and this means that the equipment which is asset in nature must be increased by it fair value which is $620. The purchase of equipment requires the payment of $140 at the spot which means that the cash asset will be reduced by $140 and the remainder $480 will be paid in future which means that the current liabilities will be increased by $480.
Increase in Equipment (fixed asset) is debited by $620.
Decrease in Cash (asset) is credited with $140.
Increase in current liability is always credited and in this case must be credited with $480.
Journal entry in nutshell is as under:
Dr Equipment $620
Cr Cash Account $140
Cr Accounts Payables $480
Answer:
If a price is too high to clear the market, that means the quantity of supplies have exceeded the amount that is demanded.
Explanation:
Have a great summer :)
Answer:
$8.20/Direct Labor hours
Explanation:
Cost of performing engine repair work = Shop and repair equipment depreciation + Shop supervisor salaries + Shop property taxes + Shop supplies
Cost of performing engine repair work = $40,000 + $133,000 + $22,000 + $10,000
Cost of performing engine repair work = $205,000
Direct Labor Hours = Direct Labor/Direct Labor rate
Direct Labor Hours = 500,000/$20 per hour
Direct Labor Hours = 25,000 hours
Predetermined shop overhead rate per direct labor hour = $205,000 / 25,000 Hours = $8.20/Direct Labor hours
<span>Low-cost price leaders normally employ such strategies as price-matching to direct more sales to them and away from rivals. This is the used by Wal-Mart as it redirects sales to it self from rivals like Aldi, best -buy and other retailer. Amazon employs this strategy as well by asking customers to report lower prices online.</span>
