Answer:
- 1. Paid $38 for an oil change.
$38 Maintenance Expenses - DEBIT
$38 Cash - CREDIT
- 2. Paid $564 to install special shelving units, which increase the operating efficiency of the truck.
$564 Delivery Trucks - DEBIT
$564 Cash - CREDIT
Explanation:
1. Paid $38 for an oil change
$38 Maintenance Expenses - DEBIT
$38 Cash - CREDIT
An oil change it's just an expenses of maintenance, which goes as General Expenses directly to the Income Statement.
2. Paid $564 to install special shelving units, which increase the operating efficiency of the truck.
$564 Delivery Trucks - DEBIT
$564 Cash - CREDIT
The installations of shelving units it's an improvements in the company's fixed assets, therefore, assets improvements are activated as fixed assets in the non-current assets section of the balance sheets.
Answer: A. True
B. True
C. False
Explanation:
A. Both Mutual Savings Banks and Credit Unions are owned by the their depositors. Credit Unions are owned and operated by members for the purpose of creating banking services for themselves at a cheaper cost.
Mutual Savings Banks are also owned by members who felt that traditional banks did not favour them.
B. Demand Deposit accounts exist in both commercial banks and Credit Unions but with different names. In Commercial banks they are known as Checking accounts for the most part but Credit Unions call them Share Draft Accounts and members of the Union can use these accounts by writing drafts like Commercial banks allow cheques.
C. While Credit Unions were formed usually for people in the same organisations or people with a common bond, Mutual Savings Banks were generally meant to uplift the lower economic classes so they did not share a common bond as Credit Union members do.
Answer:
The correct answer is letter "D": A and C.
Explanation:
Utility is the satisfaction or joy an individual perceives by consuming a given good or service. Marginal utility is the satisfaction perceived by consuming one more unit of a good or receiving a service one more time. Total utility is the aggregate utility as a result of adding the number of goods or services consumed.
<em>When marginal utility starts falling, total utility could still be rising since even if the consumer is not enjoying the same way the consumption of a good the individual is still adding more units to the consumption. However, there will a point in which the consumption of the good will not represent any satisfaction to the individual not adding more units anymore, thus, total utility starts dropping.</em>
Answer: $700,000
Explanation: Retained earnings is the amount of earnings left with the company after paying for dividends of common stockholders.
Retained earnings break even can be computed as follows :-
where,
retained earnings = net income (1- payout ratio)
= $525,000 (1 - 60%)
= $210,000
therefore,
=$700,000
Answer:
The correct answer is option b.
Explanation:
A budget line shows the maximum possible combination of two goods that a consumer can purchase by spending his/her whole income.
The quantities of those two goods are mentioned on both the axes. If the price of both the products is doubled. The consumer will be able to afford half the quantity than what he was consuming earlier.
This will cause the budget line to shift to the left. This new budget line will be parallel to the initial one. The slope of the budget line will remain the same.
