Solution:
Instructions Journalize the April transactions:
Date Account Titles and Explanation
4/30 Work in Process—Cooking
Work in Process—Canning
Raw Materials Inventory
4/30 Work in Process—Cooking
Work in Process—Canning
Factory Labor
4/30 Work in Process—Cooking
Work in Process—Canning
Manufacturing Overhead
4/30 Work in Process—Canning
Work in Process—Cooking
Cooking and out the debits
Debit Credit
22,800
10,900 33,700
9,400
7,230 16,630
33,800
28,100 61,900
55,900
55,900
Answer:
C
Explanation:
According to the Consider This box about hypothetical countries Slogo, Sumgo, and Speedo, small differences in economic growth rates make for large differences in real GDP per capita over several decades, assuming the same growth of population for each country.
For small countries ( less population and same growth of population over the years) even small growth rates makes a large change in real GDP per capita over the years.
Deadweight loss is a type of economic inefficiency when a good or service is not at its economic equilibrium (where supply equals demand). This loss may be experienced because of a tax or subsidy, or because of market power, such as a monopoly. Economists refer to deadweight loss when they want to show the negative effects of certain policy decisions that are less than optimal.
Answer:
Dr. Cr.
Purchases / Inventory $11,000
Promissory Note Payable $11,000
Explanation:
Promissory note is a signed document which contains a written promise for payment of stated amount to specific person or bond holder on demand or specified date.
In this case the purchases are made and a promissory note of $11,000 is signed for 45 days at 8% annual rate.
This entry will be recorded as the purchases or Inventory are debited and as promissory note is a short term liability so, promissory note payable is credited resulting increase in inventory as well increase in current liability.
