Andrea started a taxi business by transferring her car, at a value of $5,000, into the business. What accounting entries are required to record this transaction?

Answers

Answer 1

Answer: To record Andrea transferring her car valued at $5,000 into her taxi business, you would typically make the following accounting entries:

Debit (Increase) the "Assets" account:
Debit "Taxi Car" or "Vehicle" account for $5,000.
Credit (Increase) the "Owner's Equity" or "Capital" account:
Credit "Owner's Equity" or "Capital" account for $5,000.
This entry reflects that the value of Andrea's car is now an asset of the taxi business, and her ownership stake in the business (equity or capital) has increased by the same amount. Please note that specific account names and details may vary depending on the accounting system and chart of accounts used by the business. It's advisable to consult with an accountant or use accounting software for precise record-keeping.

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How does the market price of a good in a monopoly market compare with the market price of the same good in a perfectly competitive market?

Answers

In a monopoly, prices are usually higher because there's no competition, whereas in a competitive market items that are not priced accordingly may never sell. For example, if you are the only bread-maker in town you can charge whatever you want - if people want bread they have to pay your prices, period. But in a competitive market where there are 20 other bread-makers, your prices have to remain competitive with the other 20 or no one will buy your bread.

In addition to contributing money to a candidate, which is limited to only $5,000, which way does a PAC contribute to campaign efforts?a. transportation
b. gifts
c. food and lodging
d. advertising

Answers

The answer is B. Gift

a Political Action Committee can designate a charitable organization to receive some sort of gifts equal to their contribution

These gifts can took form in Pins, Stickers, T-Shirt, Posters, etc

Answer:

Advertising

Explanation:

I just got it right

Which of the following is an accurate description of trends in the banking industry over the last thirty years? A. Fewer people use banking services. B. Banks have become more decentralized. C. Banking has been unaffected by occasional recessions. D. Medium-sized banks have merged to become large banks.

Answers

The right answer for the question that is being asked and shown above is that: "C. Banking has been unaffected by occasional recessions." The statement that is an accurate description of trends in the banking industry over the last thirty years is that banking has been unaffected by occasional recessions

34. In logrolling, if the parties do in fact have different preferences on different issues, each party gets their most preferred outcome on their high priority issue and should be happy with the overall agreement. True False

Answers

Answer:

The answer is: TRUE

Explanation:

Logrolling refers to the trading of favors, or quid pro quo, usually carried out by legislators (representatives, senators, city council members, etc.) for mutual political gain by voting for each other's proposed bills or amendments.

Different sectors of political or even political parties themselves (other countries usually have more than two political parties) use logrolling to promote each other's agendas

Evaluate the endogenous reasons of business cycle

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In certain schools of economics, business cycles -- the ebb and flow of business and economic health -- are said to be tied to endogenous and exogenous factors. Endogenous factors are considered internal forces and occur entirely within a particular model, while exogenous factors are considered external and occur entirely outside a particular model. Both endogenous and exogenous factors exert influence on the way a business, and the economy as a whole, behaves.

According to Carl Jung, what are the two main ways that people process information?a. Thinking and sensing
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c. Doing and thinking
d. Observing and doing

Answers

The answer is A. Thinking and sensing

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Meanwhile, the sensing type will rely on their 5 senses to process information, which mean they have to experience it first before they can make their decision

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