Which best describes the pathways of these four individuals?

Summit Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been a

Fudgin [204]

Answer:

Dr Fees earned $1,150,000

Dr Retained earnings - Bal. Fig. $16,200

(1,166,200-1150000)

Cr Rent expense 200,000

Cr Supplies expense 19,300

Cr Wages expense 915,000

Cr Miscellaneous expense 31,900

May-31

Dr Retained Earnings 5,000

Cr Dividends 5,000

Explanation:

Preparation of the closing entries required to close the accounts.

May-31

Dr Fees earned $1,150,000

Dr Retained earnings - Bal. Fig. $16,200

(1,166,200-1150000)

Cr Rent expense 200,000

Cr Supplies expense 19,300

Cr Wages expense 915,000

Cr Miscellaneous expense 31,900

(To close the Expenses )

May-31

Dr Retained Earnings 5,000

Cr Dividends 5,000

(To close the dividends )

5 0

3 years ago

If the purchase and sale of a currently illegal drug (for example, marijuana) were decriminalized, economists would expect:

Masteriza [31]

Answer:

A. An increase in demand and supply of this drug.

Explanation:

In this case, if marijuana were to decriminalized, demand would be skyrocket in the short-term. It will achieve equilibrium once it is set to be recreational use only.

6 0

4 years ago

Assume that the banking system has total reserves of $200 billion. Assume also that required reserves are 12.5 percent of checki

Annette [7]

Answer: The answer is as follows:

Explanation:

Given that,

Total reserves = $200 billion

Required reserves = 12.5 % of checking deposits

Therefore,

(a) Money multiplier = $\frac{1}{Required\ Reserve}$

= $\frac{100}{12.5}$

= 8

(b) Money supply = Money multiplier × Total reserves

= 8 × $200 billion

= $1,600 billion

(c) Now, if Fed increases the required reserves to 16% of deposits.

New Money multiplier = $\frac{1}{Required\ Reserve}$

= $\frac{100}{16}$

= 6.25

New Money supply = Money multiplier × Total reserves

= 6.25 × $200 billion

= $1,250 billion

Money supply decreases to $1,250 billion.

8 0

3 years ago

Colleen didn’t have a lot of time to conduct her marketing research, so she went to the library to see what data she could find

tensa zangetsu [6.8K]

Colleen is using <u>secondary</u> data sources for her research.

<u>Explanation:</u>

A form of source of information, where an investigator includes data which another researcher has already obtained and analyzed, thus understood as "secondary data source".

In this method of data gathering the study is based on contrasting a variable to source information using the internet or books, rather than testing the variable. Since Colleen went to the library and online source of information from books, she used the secondary source of data. The primary source of data is when the investigator has gathered all data from the analysis of a variable.

5 0

3 years ago

Sherman has budgeted sales for the upcoming quarter as follows: April May June Units 1,600 1,900 1,750 The desired ending finish

podryga [215]

Answer:

$26,250

Explanation:

Beginning inventory:

= 1/2 × 1,600 × 3 × $5

= 12,000

COGS = 1,600 × 3 × $5

= $24,000

Ending inventory = 1/2 × 1,900 × 3 × $5

= $14,250

Beginning Inventory + purchases - COGS = Ending Inventory

Purchases = Ending Inventory - Beginning Inventory + COGS

= $14,250 - 12,000 + $24,000

= $26,250

6 0

4 years ago