Han’s Supplies’ bank statement contained a $180 NSF check that one of its customers had written to pay for supplies purchased. Required:
a. Show the effects of recognizing the NSF check on the financial statements.

Which of the following results in an increase in the standard of living? a. an increase in unemployment pushes down the cost of production. b. wages go up to correct for the inflation of prices. c. income increases, enabling consumers to buy more goods and services. d. rising production costs drive up the price of goods and services.