Answer:
Option "D" is the correct answer to the following question.
Explanation:
The authorized reserves assets of a nation are made mainly from the currencies of other nations.
National reserves contain mainly foreign currency.
These types of reserves used to influenced business and import-export between countries.
These reserves are measure a county's financial condition, it is a symbol of Countries repay loan situation.
Answer:
The correct answer is the option A: convenience store.
Explanation:
To begin with, the term of ''<em>convenience store''</em> refers to the small retail business that generally sales only products that are essential to the every day life and that do not require much thinking or money to buy it. Moreover, this type of stores tend to be open long hours of the day due to the fact that convenience products are found there and it also are mainly located in appropriated places alongside busy roads or near railroad stations so that the people could buy every day products easily at any time.
Answer and Explanation:
The journal entries are shown below:
On Sep 1
Cash $500
To Sales revenue $500
(Being the sale is recorded))
On Sep 1
Cost of goods sold $200
To Finished goods inventory $200
(Being the the cost of mower sales is recorded)
On Sep 1
Warranty expense (8% × $500) $40
To Warranty liability $40
(Being the estimated warranty expense is recorded)
On Jan 24
Warranty liability $35
To Repair parts inventory $35
(being the cost of warranty repairs is recorded)
Answer:
C) debit Cash $540 and Service Revenue, $280, credit Accounts Receivable, $820
Explanation:
The correct journal entry should have been:
Dr Cash 820
Cr Accounts receivable 820
But since the transaction was erroneously recorded as:
Dr Cash 280
Cr Sales revenue 280
an adjusting entry is necessary for the difference:
Dr Cash 540
Dr Sales revenue 280
Cr Accounts receivable 820
This way cash account will have increased by $280 + $540 = $820, sales revenue will remain unchanged $280 - $280 = $0, and accounts receivable will decrease by $820.
<span>The price of coffee rose sharply last month, while the quantity sold remained the same can be a result of several situations and therefor there are several explanations that are possible:
</span><span>Demand increased, but supply was perfectly inelastic.
</span><span>Demand increased, but supply decreased at the same time.
</span>Supply decreased, but demand was perfectly inelastic.
