Lake of fire company purchased supplies costing $7,000 and debited supplies for the full amount. at the end of the accounting period, a physical count of supplies revealed $1,900 still on hand. the appropriate adjusting journal entry to be made at the end of the period would ) will include a debit to ticket revenue and a credit to unearned ticket revenue for $80,000.b) is not required. no adjusting entries will be made until the end of the season in november. c) will include a debit to cash and a credit to ticket revenue for $60,000.d) will include a debit to unearned ticket revenue and a credit to ticket revenue for $90,000.

scenario: hawaii and south carolina are trading partners. hawaii has an absolute advantage in the production of both coffee and tea. the opportunity cost of producing 1 pound of tea in hawaii is 2 pounds of coffee, and the opportunity cost of producing 1 pound of tea in south carolina is 1/3 pound of coffee. which of the following statements is true? a. south carolina should specialize in the production of both tea and coffee. b. hawaii should specialize in the production of tea, whereas south carolina should specialize in the production of coffee. c. hawaii should specialize in the production of coffee, whereas south carolina should specialize in the production of tea. d. hawaii should specialize in the production of both tea and coffee.