Answer:
Please find the diagrams in the attached images
Explanation:
A) If a surgeon warns that high-cholesterol foods cause heart attacks, the demand for eggs would fall because eggs are high in cholesterol. The fall in demand would shift the demand curve to the left , price and quantity would fall.
B. Complementary goods are goods consumed together. If the price of a complementary good falls, the demand for the other good increases. If the price of bacon falls, the demand for eggs would increase. The demand curve would shift to the right, the price and quantity would increase.
C. If the price of chicken feed increases, the cost of producing eggs increases and the quantity supplied falls. The supply curve shifts to the left, prices rise and quantity falls.
D. If Caesar salad becomes more trendy, the demand for eggs increases. The demand curve shifts to the right, price and quantity increases.
E. Technological innovation would increase the quantity supplied. The supply curve would shift to the right, price falls and quantity increases.
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Answer:
JOURNAL ENTRY :
Unrealized holding loss on purchase commitment - - - - - $48,700 Dr.
Estimated liability on purchase commitment ($990,700 - $942,000) - - - - 48,700 Cr.
Explanation:
Given the following :
Agreed purchase price of raw materials in 2018 = $990,700
Market value of raw material at 31, December 2018 = $942,000
JOURNAL ENTRY :
Unrealized holding loss on purchase commitment - - - - - $48,700 Dr.
Estimated liability on purchase commitment ($990,700 - $942,000) - - - - 48,700 Cr.
Gill company calculated equipment depreciation for the month of $500. The necessary adjusting entry will include a credit to accumulated depreciation, and debit to depreciation expense.
The basic journal entry for depreciation is to debit the depreciation expense account and credit the accumulated depreciation account. Depreciation expense is recorded on the income statement as an expense or debit, reducing net income.
On the other hand, accumulated depreciation is not recorded separately on the balance sheet. Instead, it is recorded in a contra asset account as a credit, by reducing the value of fixed assets.
Hence, the entry will include a credit to accumulated depreciation, and debit to depreciation expense.
To learn more about depreciation here:
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Answer: A
Explanation:
Balance sheet report the financial position for a specific period
Answer: This is a violation of position limits
Explanation:
When checking to see if there has been a violation of control limits, all the accounts managed by a single entity or all accounts under <em>common control</em> will be added up instead of being evaluated on an individual basis.
John manages 25 accounts out of which he bought calls for 10. He bought 30,000 for each of the 10 which would mean that he bought 300,000 call contracts.
This exceeds the 250,000 contract limit so is a violation of position limits.
