The following items may appear on a bank statement:. A. NSF check B. EFT deposit C. Service charge D. Bank correction of an error from recording a $300 check as $30 Indicate whether the item would appear as debit or credit memo on the bank statement and whether the item would increase or decrease the balance of your account. Appears on the Bank Statement as a Debit or Credit Increases (Decreases) the Balance of the Company's Item No. Memo Bank Account 1. 2. 3. 4.

After all revenue and expense accounts have been closed at the end of the fiscal year, income summary has a debit of $2,450,000 and a credit of $3,000,000. at the same date, retained earnings has a credit balance of $8,222,600, and dividends has a balance of $125,000. required: a. journalize the entries required to complete the closing of the accounts on december 31. refer to the chart of accounts for exact wording of account titles. b. determine the amount of retained earnings at the end of the period.

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided