Answer:
Scarcity and shortage are not the same things. Shortage conditions exist when the demand of a good at the market price is greater than supply. ... Scarcity is the concept that we have limited resources and cannot meet the unlimited demand - it has nothing to do with a market price.
Answer:
Journal Information
This distinguished journal was founded and edited for more than 20 years by the late Harold Marcus, whose energy and dedication to the scholarly study of Ethiopia and its neighbors in the Horn of Africa inspired several generations of students and scholars throughout the world. While Northeast African Studies will bring some changes in focus and format, the editors remain committed to the high standards of research, writing, and production that the original journal championed.
Frm :-
Answer:
A) Prepare the entry to record the receipt of funds from the loan
Dr Cr
$ $
Cash 13,200
Notes Payable 13,200
Being the receipt of funds from the ban
B) Prepare the entry to accrue the interest on June 30
Dr Cr
$ $
Interest Expense (13200 * 0.05 * 1/12) 55
Interest Payable 55
Being accrued interest as at month end June 30
C) Assuming the adjusting entries are made at the end of each month, determine the balance in the interest payable account as at December 31, 2020
= Monthly accrued interest * number of months = 55 * 7 = $385
D) Prepare the entries required on January 1, 2023 when the loan is paid back:
Dr Cr
$ $
Notes Payable 13,200
Interest Payable 385
Cash 13,585
Being refund of loan
Explanation:
Answer:
$ 7
Explanation:
You can solve it using Proportion
The accurate solution to the query that "Marshall Corporation incurred costs for material and labor needed to manufacture its product, are examples of period costs.
Characteristic of period costs-
A period cost is any value that can not be capitalized into prepaid expenses, inventory, or constant assets. A period cost is closely related to the passage of time than with a transactional event. Since a period cost is largely usually charged to expense at once, it can more accurately be known as a period expense.
Period prices are prices that can not be capitalized on a company’s balance sheet. In different words, they may be expensed withinside the period incurred and found at the income statement.
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