Goods sold for the day as per cash register roll for, R16 800. Purchased a Desk and Laptop form MM Designers and paid by cheque no. 161, R18 000. how do you record in a journal​

The answer is equipment, machinery and used to produce or sell products and services supplies notes receivable due in two years building.

A sale is an agreement between a buyer and a seller in which the seller exchanges money for the sale of tangible or intangible products, assets, or services. There are two or more parties involved in a sale. A sale, or a contract between two or more parties, such as the buyer and seller, can be thought of in larger terms.

Sales in general business operations refer to any exchanges of money or value for the right to possess a good or get a service. Sales, in the context of accounting, refers to the income generated by a corporation via the selling of goods or services (net sales).

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The correct entry when a company discards machinery that is fully depreciated is d) debit Accumulated Depreciation; credit Machinery.

When an asset has been fully depreciated, the carrying value of the asset is reduced to zero on the company's balance sheet. At this point, the asset has no residual value and is considered to have reached the end of its useful life. If the company disposes of the asset, the entry will reflect the removal of the asset's carrying value from the balance sheet.

The credit entry to the Machinery account will remove the asset from the balance sheet, and the debit entry to Accumulated Depreciation will reduce the balance in the contra-asset account to zero, reflecting that all depreciation expense related to the asset has been recognized.

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The correct option is D. The new supply will become, and The new equilibrium price is $40,000.

In economics, monetary equilibrium is a scenario in which financial forces which include delivering and demand are balanced and in the absence of external impacts the (equilibrium) values of financial variables will not change. For instance, in the trendy textual content best competition, equilibrium occurs at the factor at which the quantity demanded and the amount provided is equal.

market equilibrium in this example is a circumstance in which a market price is hooked up via opposition such that the amount of goods or offerings sought by using customers is equal to the number of goods or offerings produced with the aid of dealers. This rate is frequently called the competitive charge or market clearing price and could tend no longer to trade unless demand or supply adjustments, and the amount is called the "competitive amount" or market clearing amount.

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Complete Question:

Suppose that the U.S. Department of Transportation imposes costly regulations on manufacturers that cause them to reduce supply by one-third at any given price. Calculate the new supply schedule by filling by in the blanks in this table (quantities should include one decimal place. Based on your findings, identify the new equilibrium price and the new equilibrium quantity. Price of Truck Quantity of trucks demanded (millions) Quantity of trucks Supplied (millions) Quantity of trucks supplied after regulation (millions)

A). $20,000  

B). 25,000  

C). 30,000  

D). 35,000  

E). 40,000

Equipment, cash, retained earnings, and accounts payable are the accounts that would show up on a balance sheet.

The balance sheet, one of the three fundamental financial statements, is crucial to accounting and financial modeling. The balance sheet displays the total assets of the company along with the method of financing each asset, which might be either debt or equity. A statement of net worth or a statement of the financial situation are other names for it.

The basis for the balance sheet is the fundamental equation Assets = Liabilities + Equity. Thus, there are two sides to the balance sheet (or sections). On the left side of the balance sheet, the assets of the company are all listed. On the right side of the balance sheet, the company's obligations and shareholders' equity are listed.

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The probability of selecting a blue marble is 0.231 (rounded to three decimal places) or 3/13 as a fraction.

Generally, The probability of selecting a blue marble can be found by dividing the number of blue marbles by the total number of marbles in the box:

P(blue) = number of blue marbles / total number of marbles

P(blue) = 3 / (4 + 6 + 3)

P(blue) = 3 / 13

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Katherine Chapman recently launched a firm in the clothing industry, targeting 13-17-year-olds. Katherine is pursuing a global strategy. The correct option is d.

Global strategy as defined in business terms is an organization's strategic guide to globalization. Such a connected world, allows a business's revenue to not be confined by borders. A business can employ a global business strategy to reap the rewards of trading in a worldwide market. Academic research on global strategy came during the 1980s, including work by Michael Porter and Christopher Bartlett & Sumantra Ghoshal.

The International Classification of a global business strategy is employed by companies who may sell in foreign markets, but their primary focus is on their home market.

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As output rises, a downward-sloping, linear demand function displays a less elastic demand.(option a)

A demand curve in economics is a graph that shows the link between the cost of a given good and the amount that is desired at that cost. Levels can increase can be applied to the price-quantity connection for either a specific consumer or for every consumer in a given market. The initial cost plus the cost of manufacturing make up the cost function. We received the demand function. Simply multiplying x even by demand function yields the revenue function. We are aware that marginal revenue and marginal expense must match in order to optimise profit.

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Quadratic voting is a method for making decisions collectively in which people vote to express the degree of their preferences rather than just their preferences' direction.

Quadratic voting attempts to address the Condorcet paradox and majority rule in this manner.

The concept of equal voting representation is exemplified by the expression "one man, one vote" or "one person, one vote." Promoters of democracy and political equality use this slogan, particularly in relation to electoral reforms like proportional representation and universal suffrage.

65 and older: People between the ages of 18 and 24 are least likely to vote, while people 65 and older are most likely to.

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Frequency marketing refers to activities that drive repeat purchases through a formal program enrollment process and increase the loyalty and engagement of your customer base.

Can you give an example of frequency marketing?

One of the best examples of a perpetual frequency marketing program is an airline's frequent flyer program. The main target market is business travelers (members) who get benefits but whose employer covers the cost of the tickets they purchase.

What does the frequency example mean?

Frequency describes number of waves passing through a particular location in a particular time. So if the wave takes 1/2 second to travel, the frequency is 2 per second. If it takes 1/100th of an hour, the frequency is 100 per hour.  

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Fed uses M2 and M3 as reliable measures for monitoring and controlling the money supply.

Sam's savings account belongs to M2, which includes savings accounts, money market deposit accounts, and small time deposits.Neha's offshore bank account does not belong to any of the three categories because M2 and M3 only include money within the United States. However, if Neha keeps the money in a foreign bank account denominated in US dollars, it would belong to M3, which includes large time deposits, repurchase agreements, and institutional money market mutual fund balances.Lorenzo's roll of quarters belongs to M1, which includes physical currency (coins and banknotes) and demand deposits (checking accounts).M1 is the narrowest definition of the money supply, which includes only the most liquid forms of money that can be spent immediately, like cash and demand deposits. M2 is a broader definition of the money supply that includes M1 plus near-money deposits, such as savings accounts and small time deposits.

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The price elasticity of demand for Babar's bread will be 0.266. Thus, the correct option is A.

The price elasticity of demand is the percentage change in the quantity which is demanded of a good or service divided by the percentage change in the price of the good. The price elasticity of this supply is the percentage change in quantity which is supplied divided by the percentage change in price.

ep = Change in quantity/ Change in price

ep = [tex](dQ/Q)/ (dP/P)[/tex]

where,

ep = price elasticity,

Q = quantity of the demanded good,

P = price of the demanded good

ep = (70-100/ 100)/ (350-200/ 200)
ep = (-30/100)/ (150/200)

ep = (0.3)/ (3/4)

ep = (0.3 × 4)/ 3

ep = 0.4 ≈ 0.266

Therefore, the correct option is A.

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As shown in table 2,3 Probability that all 3 spins will land on $800 is 0.000579 ,4,Probability that in 3 spins, at least one will land on $ 800 is : 0.2297,5 =$668.650

Science uses a figure called the probability of occurrence to quantify how likely an event is to occur. It is written as a number between 0 and 1, or between 0% and 100%, when represented as a percentage. The possibility of an event occurring increases as it gets higher. An impossible event has a probability of 0, while a certain occurrence has a probability of 1.  The probability that two complementary events A and B will occur when either A or B occurs sums to one.

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A decrease in cost of goods sold will increase a firm's times interest earned ratio. The correct option is B.

The times interest earned ratio, also known as the interest coverage ratio, measures a company's capacity to pay its debts' interest obligations. It is calculated by dividing income before interest and taxes by interest expense.

The ability of a business to make debt payments on time is gauged by the interest coverage ratio or times interest collected. EBIT or EBITDA divided by the total interest expense might be used to determine it.

The ratio of interest earned to cost of items sold will rise for a company.

Thus, the correct option is B.

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The value of the total assets section of a balance sheet would be $51,810.

A balance sheet is financial statement that shows company's assets, liabilities, and equity at a specific point in time. It is divided into two sections, with assets listed on the left side and liabilities and equity on the right side. Assets include cash, investments, inventory, property, and equipment, while liabilities include debts, loans, and obligations owed to others. Equity represents the portion of the company's value that belongs to shareholders or owners. The balance sheet is an essential tool for understanding a company's financial health and is often used by investors, creditors, and analysts to evaluate the company's performance and potential risks.

Current Assets:

Cash 7,800

Short-term Debt Investment 1,580

Account Receivable 5,580

Notes Receivable-due before December 31, 2023 340

Inventory 15,840

Total Current Assets 31,140

Long-term Investments:

Patents 11,980

Property, Plant, and Equipment:

Buildings 21,620

Less: Accumulated Depreciation-Buildings (12,930)

Net Property, Plant, and Equipment 8,690

Total Assets $51,810

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When an offeror and an offeree agree to the contract, this is called an Agreement or Meeting of the Minds.

An agreement or meeting of minds is a concept in contract law that refers to a situation where both parties involved in a contract have a mutual understanding of the terms and conditions of the agreement.

This means that both parties have a shared comprehension of what they are committing to, and the agreement reflects their common intention. The agreement of meeting of minds is also known as mutual assent or mutual consent, and is a necessary requirement for the formation of a valid contract.

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"Power Distance" is the level at which a society's citizens anticipate an unequal distribution of power.

The degree to which a society recognizes or rejects an unequal allocation of power in organizations and society is known as the "power gap."

Thus, "Power Distance" is the level at which a society's citizens anticipate an unequal distribution of power.

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The correct question is-

The degree to which a society's members expect power to be unequally shared ______

There are a lot of high school students who would like to work at breweries, but they are not hired due to minimum-wage laws. This is the price ceiling

A price ceiling is the greatest cost that the government may charge for a commodity, whereas a price floor is the lowest price that must be paid for a commodity. Regulations governing minimum wages establish the lowest amount that businesses are required to pay their employees. In this case, high school students who want to work in breweries must be paid a base salary, which is set by the minimum wage law.

The objective of the minimum wage law is to ensure that workers receive a fair wage and ensure preventing companies from exploiting their employees by underpaying them. Some businesses may decide not to hire high school kids as a result of regulation as they cannot afford to pay them the base pay. Due to this, even students who are ready to work for less than the minimum may have trouble finding employment in breweries. In the given case, it could be argued that the minimum wage law discourages certain workers from finding proper jobs.

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When a company receives $10,000 in cash for the sale of goods and by accident records this cash receipt as an increase in accounts receivable, the accounting equation is still in balance.

The accounting equation demonstrates that a company's total assets equal the sum of its obligations and shareholders' equity (assets = liabilities + equity). The foundation of double-entry accounting is the unambiguous relationship between a company's liabilities, assets, and equity.

The connection between assets, liabilities, and equity the three parts of a balance sheet is captured by the accounting equation. When all else is equal, a company's equity will rise when its assets do, and vice versa. Increasing liabilities will result in a decline

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The Net cash flow from operations is $341,760

Net cash flow is the gain or loss of funds over a period of time after all debts have been paid.

Particulars                                                    Amount                        Amount

Net Income                                                   50090                          50,090

Adjustments for:

Less: Decrease in Account payable           -27,820

Add: Depreciation                                         308,810

Add: Decrease in Accounts receivables     26,680

Less: Increase in Inventory                           -31,620

Add: increase in accruals (Liability)               15,620                      291,670

Net cash flow from operations                                                          341,760

When a company has a cash surplus after paying all of its operating expenses, it is said to have a positive cash flow. A company is said to have a negative cash flow if it pays more for obligations and liabilities than it earns through operations.

When using net cash as a barometer to determine a company's financial health, it is critical to analyze what activities contribute to positive or negative net cash.

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North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific are the regions into which the Goodyear tire firm is divided.

A business sector is a division that generates revenue through the sale of a product, a product line, or a service that is unrelated to the company's primary area of emphasis. The process through which a business separates its target market into smaller, more controllable pieces or units is known as market segmentation. The business does this in an effort to successfully target each target market. Goodyear tires' division can be used to identify market segments. A business sector is a segment of an organization that is distinguishable from others by the products, services, or business areas it provides. In other words, it's a division of a company that can be easily recognized from the total enterprise based on its customers, products, or services.

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Consider a scenario in which the Fed announces a 50-basis point (or 0.5 percentage point) increases in its target interest rate. To do this, the Fed will use open-market operations to increase the supply of money by buying bonds from the public.

The grey star indicates that the interest rate was 0.5% before to the Fed's decision. The new junction of the money supply and money demand curves happens at an interest rate of 1.55% if the Fed is effective in lowering interest rates by 0.50 percentage points. Consequently, if the interest rate were 1.55 percent, you need to have drawn a green vertical line at the amount of money that individuals would desire.

You can see from the graph that this amounts to $0.7 trillion. The Fed will utilize open-market operations to purchase public bonds in order to expand the money supply. As the Fed purchases bonds from the general public, the amount of reserves in the banking system rises, increasing banks' capacity to extend credit.

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Yes, critical audit matters should be communicated in the critical audit matters section, which immediately follows the Basis for Opinion section.

In the given question for an auditor of an issuer, critical audit matters should be communicated in the critical audit matters section and we have to find which Immediately follows the Basis for Opinion section.

Yes, that is correct. The critical audit matters section of an auditor’s report typically immediately follows the Basis for Opinion section. The critical audit matters section contains the auditor’s communication of any matters that the auditor believes are of most significance to those who use the financial statements.

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According to the law of supply and demand, demand declines as prices rise. Therefore, option D is the proper one.

Both the bulk of these countries' fast rising per capita incomes and the extremely rapid rates of population growth have an impact on this surge in demand. Due to the substantial expansion in wheat demand in China, the nation must import a large volume of wheat. Real income falls when the price of rice rises, which is followed by a predicted decline in consumption of all other products. In this regard, the poor may be significantly impacted by the rise in rice prices. One agricultural crop, rice, has seen a sharp increase in demand, according to recent study from the University of Arkansas System Division of Agriculture.

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The balances of temporary accounts are moved from temporary accounts to retained profits using the income summary.

After that, liabilities will come next, then assets, and equity will be the last item. On the post-closing trial balance's bottom line, totals for both the credit and debit columns will be determined.

Just the permanent/real accounts—assets, liabilities, and equity—will be included in the post-closing trial balance. The closing entries would have zeroed out all other accounts (temporary/nominal accounts: revenue, cost, dividend).

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Gas Bags can recover $500. Thus, option C is correct.

A market consists of various structures, organizations, procedures, and processes that allow people to exchange commodities and services. The majority of marketplaces rely on purchasers providing their products or services to purchasers in exchange for payment, however, participants may move products by barter.

The information that is provided with respect to the Fiesta LLC

the order that was passed was for 1,000
The cost at that time was termed as $1.00

The amount then incurred will be 1000

The amount that will be after the decrease with then amount will  be .050

The amount will now be

=1000 - 500

= 500

Therefore, option C is correct.

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The statements, 1, 2 and 3 are normally included as key components of a corporation's annual report

A company's annual report is the one it submits to its shareholders or investors each year. It is an account of the actions taken and the money earned in the year before the current one. The components included are -

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Option (c), Even though cash is received in a separate accounting period than the revenue is earned, revenues are still recorded when services are rendered.

Since expenses are recorded when they are spent rather than when money is received, revenue is recorded as it is earned when using accrual accounting. Long-term planning is facilitated by this method, which provides a more precise picture of income and expenses than cash accounting.

Accrued income is the amount of money that has been made by providing a good or service but has not yet been paid for. Accrued revenues are recorded on the balance sheet as receivables to represent the amount that customers owe the business for the goods or services they purchased.

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In Bertrand equilibrium, both firm 1 and firm 2 will set their price at $25 per unit.

In Bertrand equilibrium, both firms will set prices equal to their marginal cost since consumers will always choose the lower-priced product. In this case, the marginal cost is $25 per unit.

The market demand is Q = 200 - p, which means that if the price is set at p, the quantity demanded will be 200 - p.

Therefore, each firm will set its price at $25 to capture half of the market demand, which is 100 units.

So, both firm 1 and firm 2 will set their price at $25 per unit.

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Limiting a firm's ability to switch back and forth between alternative generally accepted accounting methods is driven by Consistency of management process.

A sequence of processes known as the management process are utilized to carry out commercial activities. Planning, organizing, staffing, leading, managing, and assessing are all parts of the management process.

The management process' four functions. The four primary management process functions are as follows. The planned, organizing, directing, and controlling stages are what are referred to as these. Each of these phases aids businesses and organizations in carrying out their aims and objectives successfully and efficiently.

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Complete question:

Limiting a firm's ability to switch back and forth between alternative generally accepted accounting methods is driven by which of the following concepts/principles?

Procrastination is very much an emotional response to heading off duties we want to complete. In psychology, they name it undertaking aversiveness.

Triggering these emotions to prolong and put off responsibilities can come from any quantity of scenarios, some mundane, others that carry serious concern.

The college wage top class is rising due to will increase in demand for college-trained people b/c of technology improvements.

Root motive analysis (RCA) is the technique of discovering the root causes of troubles in order to identify splendid solutions. RCA assumes that it is a lot more fantastic to systematically prevent and remedy for underlying issues rather than just treating ad hoc symptoms and putting out fires.

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