Answer:
a. 
Date          Account Details                                  Debit                       Credit
                  Cash                                                $27,000
                  Common Stock                                                                 $27,000
b. 
Date          Account Details                                  Debit                       Credit
                  Land                                                 $9,000
                   Notes Payable                                                                  $9,000   
c. 
Date          Account Details                                  Debit                       Credit
                  Vehicles                                           $18,000
                  Cash                                                                                 $2,000
                  Notes Payable                                                                 $16,000
d. 
Date          Account Details                                  Debit                       Credit
                  Vehicles                                               $800
                  Cash                                                                                    $800
e. This does not require a journal entry as it is a personal transaction. 
 
        
             
        
        
        
Answer:
The depreciation expense is $5638.46 and the Addition to retained earnings is 4865
Explanation:
Solution
Given that:
Sales  = $95805
Less: Costs = $75885
Less depreciation expense ($95805 - $75,885 - 14281.54) = $5638.46
EBIT (12161.54 + 2120) = 14281.54
Less: Interest expense =2120
EBT (100%)(7905/0.65) = 12161.54
Less: tax at 35%(12161.54*35%) =4256.54
The Net income(65%) = 7905
The Less:dividends = 3040
Addition to retained earnings =4865
 
        
             
        
        
        
Answer:
use reasonable diligence and skill in selling.
Explanation:
A Sales Agent is an individual that is fully responsible to the company or broker under whom he or she licensed. They have no authority to make contracts or receive compensation
They ard salesperson hired by a company to help products or services sales. Usually under a in a specific geographical location. They earn commission on the basis or value of the sales they make.
 
        
             
        
        
        
Answer:
- 0.80
Explanation:
Price elasticity of demand describes the extent to which the quantity demanded of good X changes as result of a change in its own price.
The midpoint formula for price elasticity of demand is presented and used as follows:
Percentage change in quantity = %ΔQ = [Q2 - Q1] / [(Q2 + Q1) ÷ 2] × 100
Percentage change in quantity = %ΔP = [P2 - P1] / [(P2 + P1) ÷ 2] × 100
Midpoint price elasticity of demand = %ΔQ / %ΔP
Where:
Q2 = New quantity of good X = 150
Q1 = Initial quantity of good X = 100
P2 = New price of good X = $6
P1 = Initial price of good X = $10
Therefore,
Percentage change in quantity = %ΔQ = [150 - 100] / [(150 + 100) ÷ 2] × 100
                                                                 = [50/(250 ÷ 2)] × 100
                                                                  = (50/125) × 100
                                                                  = 40.00%
Percentage change in quantity = %ΔP = [$6 - $10] / [($6 + $10) ÷ 2] × 100
                                                                 = [-$4/($16 ÷ $2)] × 100
                                                                  = (-$4/$8) × 100
                                                                  = - 50.00%
Price elasticity of demand = 40% / 50% = - 0.80
The elasticity of demand of -0.80 less than 1. That indicate that the quantity demand is inelastic. That is the change in the degree of change in the quantity demanded of good X is lower than the degree of change in its price.