Answer:
1) Debit Prepaid insurance, Credit Bank
2) Debit wages, credit Bank
3) Debit Supplies Account , Credit Accounts payable
4) Debit Utility account credit Accounts payable
Explanation:
The Question requires that for each of the transaction identify account to be debited and account to be credit.
clear transactions end at the 4th transaction. After the 4th its just terms and accounts
<span>When white settlers from Europe moved to North America, Native Americans lost their reign on their land. They were forced out of the regions where they thrived, with many dying from battles or from the diseases that the Europeans brought over. It is estimated that more Native Americans died from diseases than from the actual battles that took place to defend their lands. In the 21st century, Native Americans live on 2 percent of the land in North Americ</span>
When an economist makes a prediction that a rise in consumer incomes will increase the demand for bicycles sold by a bicycle company, it is made on assumption that bicycles are normal goods. Therefore, the option A holds true.
<h3>What is the significance of normal goods?</h3>
The normal goods or services being sold in the market of an economy can be referred to or considered as goods that have a direct relation with the demand for such goods, which are affected by consumer income.
As per the behavior of normal goods, it can be inferred that their demands increases with a given increase in the disposable income of the consumer, such as the one in the condition given above.
Therefore, the option A holds true and states regarding the significance of normal goods.
Learn more about normal goods here:
brainly.com/question/24100151
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An economist for a bicycle company predicts that a rise in consumer incomes will increase the demand for bicycles. This prediction assumes that bicycles are _____.
A. Normal goods
B. Luxury Goods
C. Inferior Goods
D. None of the Above
