The accounts listed below appeared in the December 31 trial balance of the Savard Theater. Debit Credit
Equipment $192,000
Accumulated DepreciationâEquipment $60,000
Notes Payable 90,000
Admissions Revenue 380,000
Advertising Expense 13,680
Salaries Expense 57,600
Interest Expense 1,400

a. From the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31.
1. The equipment has an estimated life of 16 years and a salvage value of $22,944 at the end of that time. (Use straight-line method.)
2. The note payable is a 90-day note given to the bank on October 20 and bearing interest at 8%. (Use 360 days for denominator.)
3. In December, 1,910 coupon admission books were sold at $30 each and recorded as Admissions Revenue. They could be used for admission any time after January 1.
4. Advertising expense paid in advance and included in Advertising Expense $1,025.
5. Salaries and wages accrued but unpaid $4,408.

Upper a report about the decline of western investment in third world countries included this: "after years of daily flights comma several european airlines halted passenger service. foreign investment fell 400 percent during the 1990 s." what is wrong with this statement? choose the correct answer below. a. if foreign investment fell by 100 % comma it would be totally eliminated comma so it is not possible for it to fall by more than 100 %. b. the actual amount of the decrease in foreign investment is less than 100%. c. if foreign investment fell by 100%, it would be cut in half. thus, a decrease of 200% means that it would be totally eliminated, and a decrease of more than 200% is impossible. d. the statement does not mention the initial amount of foreign investment.

What is the difference between the contractual interest rate and the market interest rate?

6. why the aggregate supply curve slopes upward in the short run in the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy deviates from the expected price level. several theories explain how this might happen. for example, the misperceptions theory asserts that changes in the price level can temporarily mislead firms about what is happening to their output prices. consider a soybean farmer who expects a price level of 100 in the coming year. if the actual price level turns out to be 90, soybean prices will , and if the farmer mistakenly assumes that the price of soybeans declined relative to other prices of goods and services, she will respond by the quantity of soybeans supplied. if other producers in this economy mistake changes in the price level for changes in their relative prices, the unexpected decrease in the price level causes the quantity of output supplied to the natural level of output in the short run.