Answer:
(C) Supplies 7000 Cash 7000
Explanation:
In this transaction, Willey consulting acquired $7,000 worth of supplies, which configures as a credit of $7,000 to the Supplies account. Meanwhile, the company has incurred a cash expense, which should reflect in a $7,000 debit to the Cash account.
Therefore, the answer is (C) Supplies 7000 Cash 7000.
Answer:
Option A = 20 fewer tons of pollution into the air, and Firm B will emit 100 fewer tons of pollution into the air.
Explanation:
The information or data required to decode or solve the above Question is given below;
(1). "It costs Firm A $200 for each ton of pollution that it eliminates before it is emitted into the air, and it costs Firm B $100 for each ton of pollution that it eliminates before it is emitted into the air."
DEDUCTION: We can see that Firm A in (1) above uses more money that is $200 than firm B which is $100 to eliminate each ton of pollution.
(2). "Both firms, A and B, each currently emit 100 tons of chemicals into the air."
DEDUCTION: Both firms emit the same amount of pollution.
(3)." The government gives each firm 40 pollution permits, which it can either use or sell to the other firm"
So, from (1) we can deduce that A is more likely to buy the 40 pollution permit of B to make firm A to be 40 + 40 = 80 pollution permit.
Thus, A will emit 20 fewer tons of pollution while B will emit 100 tons.
Answer:
Cost of good sold is $203,150.
Explanation:
Sheridan Company cost of goods sold section (periodic system) for the year ending August 31, 2022
Details $ $
Beginning Inventory 24,230
Purchases 200,300
Freight-In 8,530
Purchase Returns and Allowances <u> (8,210) </u>
Net purchases <u> 200,620 </u>
Cost of goods available for sales 224,850
Ending inventory <u> (21,700) </u>
Cost of good sold <u>203,150 </u>
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