Answer:
The correct answer is option d.
Explanation:
If oligopolists are able to collude successfully, they will be able to fix price and output similar to a monopoly.
In order to maximize profits, the oligopoly firms keep their prices higher than a perfectly competitive firm but lower than monopoly. The output level is kept higher than a monopoly firm but lower than a perfectly competitive firm.
Answer:
Date Accounts Titles & Explanation Debit Credit
Dec 31 Rent Expense $2,040
($6,120 *2/6)
Prepaid Rent $2,040
Dec 31 Deferred Revenue $525
Service Revenue $525
Dec 31 Salaries Expense $700
Salaries Payable $700
Dec 31 Supplies Expense $2,390
($3,100 - $710)
Supplies $2,390
Demon Deacons Corporation
Adjusted Trial balance
December 31, 2021
Accounts Debit$ Credit$
Cash 9,100
Account receivable 14,100
Prepaid rent 4080
Supplies 710
Deferred revenue 1,575
Salaries payable 700
Common stock 11,000
Retain earnings 5,100
Service revenue 45,245
Salaries expenses 31,200
Rent expenses 2,040
Supplies expenses <u>2,390</u> <u> </u>
Total $<u>63,620</u> $<u>63,620</u>
Prepaid rent = 6,120 - 2,040 = 4080
Supplies = 3100 - 2390 = 710
Deferred revenue = 2,100 - 525 = 1575
Options:
A. $20
B. $200
C. $40
D. $400
Answer:C. $40
Explanation: Opportunity cost is a term used in Economics to describe the value of the next most profitable alternative of this an investor puts his or her resources into,in this case the opportunity cost for Bubba is the percentage of the interest which Bubba earned from the interest.
Opportunity cost for Bubba can be calculated as follows
(2%/100)* $2,000=$40.
Opportunity cost helps economists to ensure that resources are effectively put to use.
Answer:
Dr Cash $310,400
Dr Factoring expense$9,600
Cr Account receivable $320,000
Explanation:
Preparation of the journal entry to record the sale of the receivables on Morales Company's books.
Dr Cash $310,400
($320,000-$9,600)
Dr Factoring expense$9,600
($320,000*3%)
Cr Account receivable $320,000
(Being to record the sale of the receivables on Morales Company's books