Answer:
The answer is $2,000
Explanation:
A monopolist is a single seller in the industry. A monopolist can influence the market price because he is the only one selling the product in the industry and has many buyers. Monopoly is an imperfect market and there are price discriminations in this market. A monopolist can charge different prices for different people.
We have first degree price discriminations, second degree price discriminations and third degree price discriminations.
Total revenue = selling price x units sold
Selling price is $100
Units sold is 20 jackets
Total revenue is therefore, $100 x 20 jackets
=$2,000
Answer:
The correct option is C
Explanation:
The journal entry which is to be passed in order to replenished the account is as:
Petty Cash A/c..................................Dr $84
Cash A/c...............................................Cr $81
Cash Over and Short A/c..................Cr $3
In order to replenish the account of petty cash, the account of expense (name of expense is not given, so petty cash account) is debited. Therefore, the petty cash is debited. The cash account is credited and the excess or over (which is $3 that is $200 - [$119 + $84 = $203] ) is replenished by crediting the account.
Answer:
1. Journal:
October 1:
Debit Cash $30,000
Debit Building $200,000
Credit Common Stock $230,000
To record the receipt of cash and building for common stock.
2. T-accounts:
Cash Account
Date Description Debit Credit Balance
Oct. 1 Common Stock $30,000 $30,000
Building Account
Oct. 1 Common Stock $200,000 $200,000
Common Stock
Oct. 1 Cash $30,000 $30,000
Oct. 1 Building $200,000 $200,000
Explanation:
Journal entries show the accounts to be debited and credited respectively. They are the initial records of a business transaction. They can be used to post any transaction, make adjustments to the accounts, and close the accounts at the end of the accounting period.
Answer: The answer is C
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