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Finer Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May. May 2 Sold merchandise costing $300 to B. Facer for $450 cash, invoice no. 5703. 5 Purchased $2,400 of merchandise on credit from Marchant Corp. 7 Sold merchandise costing $800 to J. Dryer for $1,250, terms 2/10, n/30, invoice no. 5704. 8 Borrowed $9,000 cash by signing a note payable to the bank. 12 Sold merchandise costing $200 to R. Lamb for $340, terms n/30, invoice no. 5705. 16 Received $1,225 cash from J. Dryer to pay for the purchase of May 7. 19 Sold used store equipment for $900 cash to Golf, Inc. 25 Sold merchandise costing $500 to T. Taylor for $750, terms n/30, invoice no. 5706. Journalize the May transactions that should be recorded in the sales journal assuming the perpetual inventory system is used.
Insurance companies must provide insurance to drivers who may take risks that go unreported because they don’t wreck or get ticketed (or if they do wreck or get ticketed, it goes unreported to the insurance company). Briefly explain the principal-age..
In an effort to estimate the mean amount spent per customer for dinner at an Atlanta restaurant, data were collected for a sample of 42 customers. The data collected resulted in a sample mean of $29. Based upon past studies the population standard..
What do you see as the benefits and costs of incomeredistribution? To what extent should the government seek toequalize incomes and how does this affect personal initiative? Isit fair that a couple of guys who start a business in a garage canbecom..
Explain whether you think the supply of the following goods is elastic or inelastic,
Explain why a monopolist, such as Media Cable, faces a downward-sloping demand curve? Explain why the marginal revenue from an additional sale is less than the price of the service?
The socio-economic shortcomings that China experienced
Explain how might the international monetary system be reorganised to rely less on the US dollar.
Explain the relationship among the required reserve ratio, the potential deposit expansion multiplier, and deposit expansion multiplier.
The economy is in a recession. The government enacts a policy to increase spending by $2 billion. The MPS is .2. What would be the full increase in real GDP from the change in government spending assuming the increase would be in the horizontal range..
Describe the total cash flows in real terms and the depreciation tax shield. What is it that has you concerned.
Spending $1,500 more today for a hybrid engine rather than a gasoline engine will result in annual fuel savings of $300. How many years must this savings continue in order to justify the extra investment if money is worth 10% per year, compounded ..
State your main research question (don't worry if your topic or question changes during the semester). What relationships are you trying to uncover?
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