Answer:
B. buyer must pay $2.33 per gallon for the rest of the year.
Explanation:
The correct answer is B. The seller agrees to supply gasoline for next year at $3 per gallon, the buyer agreed to it. When the gasoline prices declined the buyer insisted to reduce price and seller agreed to it. When the prices rise again the seller asked to raise price but buyer refused. Buyer cannot terminate the contract instead it has to continue buying at $2.33 per gallon if the seller is agreed to sell on this price for the rest of the year.
D. Graphic designer is the answer
Answer:
$1.78 per gallon of ethanol
Explanation:
The market price in which the conversion of ethanol becomes attractive is:
($3.75 + $1.60 / bushel of corn) / (3 gallons of ethanol / bushel of corn)
= $1.78 per gallon of ethanol.
Answer: credit; $200
Explanation:
<em>The journal entry to record the sale of treasury stock using the cost method would include a </em><em><u>credit </u></em><em>to Treasury Stock in the amount of </em><em><u>$200</u></em><em>.</em>
<em />
Using the cost method, the journal entry should reflect the sale of the stock at the original price it was purchased at ( its cost). With the original cost of purchase being $20, the 10 shares that were sold will be recorded as;
= 10 shares * $20
= $200
This will be credited to the Treasury account and along with the additional amount made on the sale, debited to the cash account to reflect a cash increase.
