Answer:
household buying goods and services in the product market
Explanation:
The product market is where final goods and services are sold to households and firms.
The factor market is where factors of production are exchanged.
Mary is buying food for her cat. There are no indications that Mary is a business and that the food is a factor of production. Therefore, Mary is an household and she's purchasing from the product market.
I hope my answer helps you
Answer:
Journal entry For Depreciation
Date Account and explanation Debit Credit
July 1 Depreciation expense $7,500
(105000/7)*6/12
Accumulated depreciation-Machine $7,500
(To record Depreciation)
1) Journal entry
Date Account and explanation Debit Credit
July 1 Cash $45,500
Accumulated depreciation-Machine $67,500
Machine $105,000
Gain on Sale of Machine $8,000
(To record sale of Machine)
2) Journal entry
Date Account and explanation Debit Credit
July 1 Cash $25,000
Accumulated depreciation-Machine $67,500
(105000/7*4.5)
Loss on sale of machine $12,500
Machine $105,000
(To record sale of Machine)
Answer:
Option (d) is correct.
Explanation:
Given that,
Sales = $ 413,000
Cost of goods sold (all variable) = $ 169,100
Total variable selling expense = $ 20,700
Total fixed selling expense = $ 17,900
Total variable administrative expense = $ 13,100
Total fixed administrative expense = $ 30,400
Gross margin:
= Sales - Cost of goods sold
= $ 413,000 - $ 169,100
= $243,900
Answer:
Wedding Clothings Inc.,
232 Wasington Drive,
Tennessee State,
United States of America.
33 Georgia county,
New York City.
Dear MaryJane,
Re: <u>Inquiry on your recent wedding dress order.</u>
I am writing to inquire about your recent order for a custom wedding suit. I notice that, you might be busy with the wedding planning and organization hence the reason why you forgot that you placed an order. In your order, you did not indicate what color you want, and your measurements. This two information is necessary to be able to provide you with the suit before your actual the wedding.
If you don't mind me asking, when exactly is the happy day going to be? And, also, it would be nice if you can spare some time and stop by in our shop in person inorder to pick out your suit. This is because, we do offer an incredibly wide selection of fine wedding attire. The opportunity would afford you the time to select an appropriate tie and shirt.
I would also suggest that you choose clothing for your best man and ushers, assuming that you are having a large wedding. We are prepared to provide the best in both custom and rental formal attire for your entire wedding party, regardless of how large or small it may be. Also, you could bring your fiancée along to coordinate the men’s clothing with the bridesmaid’s dresses. You know how picky women are about clothes.
If you can’t come by in person, you should send me a letter stating your measurements and indicating your color and style preferences, or call me at 633-4296. After we receive this information, we will need at least two weeks to complete the suit. Thank you for your cooperation in this matter.
Sincerely yours,
Janet McCoy (Sales Manager)
For: Wedding Clothings Inc.
Explanation:
Answer:
Entry to replenish
Dr. Expenses $517.5
Dr. Cash Short $20
Cr. Cash (675-137.5) $537.5
Explanation:
Petty cash is a small amount of fund which is kept in the business for day to day expenses. Cash is issued from this fund for daily small expense which is not appropriate to withdraw from the bank by check.
The difference between the expenses receipts and cash outflow is cash excess or short.
In this question there is a cash shortage because the cash payment is more than the receipt received / available.
