The following list includes selected permanent accounts and all of the temporary accounts from the december 31, 2018, unadjusted trial balance of emiko co.. emiko co. uses a perpetual inventory system. debit credit merchandise inventory $ 31,500 prepaid selling expenses 5,900 dividends 36,000 sales $ 541,000 sales returns and allowances 18,100 sales discounts 5,300 cost of goods sold 218,000 sales salaries expense 51,000 utilities expense 16,500 selling expenses 37,500 administrative expenses 108,000 additional information accrued sales salaries amount to $1,500. prepaid selling expenses of $3,300 have expired. a physical count of year-end merchandise inventory shows $29,600 of goods still available. (a) use the above account balances along with the additional information, prepare the adjusting entries. (b) use the above account balances along with the additional information, prepare the closing entries.

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr

Differentiate between the trait, behavioral, and results-based performance appraisal systems, providing an example where each would be most applicable.