Answer:
$46,000
Explanation:
Note: The balance sheet is shown in the attachment. Kindly find it below:
The computation of the cost of goods sold expense is shown below:
Cost of goods sold = Opening inventory + Purchase - ending inventory
where,
Opening inventory = $22,000
Purchase = $42,000
And, the ending inventory is $18,000
So, the cost of goods sold is
= $22,000 + $42,000 - $18,000
= $46,000
Basically we applied the above formula to find out the cost of goods sold expense in 2014
Contractual workers or seasonal workers are favorable to businessmen because they don't have benefits to be complied on by companies compared to permanent workers. They also have the idea that other workers can be employed if the basis is seasonal work.
Answer: The correct answer is "C) LM: shifts to the right".
Explanation: An increase in the money supply shifts the <u>LM</u> curve to the right, and the aggregate demand curve <u>shifts to the right.</u>
As the supply of money increases, the LM curve shifts to the right, establishing a new equilibrium point in which production is going to be higher, thus increasing aggregate demand.
Answer:
d. balance sheet: assets understated, equity understated income statement: revenues understated
Explanation:
The journal entry would be
Account receivable Dr $450
To sales revenue $450
(Being sales revenue is recorded)
Here the account receivable is debited as it increased the assets and credited the sales revenue as it also increased the revenue also the equity would be increased
Therefore if this entry is not recorded so the revenue, net income, assets and equity all are overstated
hence, the correct option is d.
Answer: Entrepreneurs
In addition to risking and investing time and money to start and manage a business, entrepreneurs have an innate ability to identify a need for a new technology or invention. They then build a business by putting together all the resources (land, labour and capital) that are required to make a new technology or invention into a commercially viable (profitable) product.
