Because money creates a standard –, it is possible to compare the prices of two goods, which allows people to communicate the – of the goods in a way that is easily understood. this characteristic of money also enables it to serve as a – device, or a way to measure accounts and transactions in a consistent manner.

As a result of a thorough physical inventory, waterway company determined that it had inventory worth $320200 at december 31, 2020. this count did not take into consideration the following facts: walker consignment currently has goods worth $47400 on its sales floor that belong to waterway but are being sold on consignment by walker. the selling price of these goods is $75900. waterway purchased $21900 of goods that were shipped on december 27, fob destination, that will be received by waterway on january 3. determine the correct amount of inventory that waterway should report.

Why does the downward-sloping production possibilities curve imply that factors of production are scarce?

The petty cash fund has a current balance of $ 350, which is the established fund balance. based on activity in the fund, it is determined that the balance needs to be changed to $ 450. which journal entry is needed to make this change?