Given the following adjusted trial balance: Debit Credit
Cash $681
Accounts receivable 860
Inventory 1281
Prepaid rent 35
Equipment 120
Accumulated depreciation-equipment $21
Accounts payable 34
Unearned service revenue 50
Common stock 85
Retained earnings 2710
Service revenue 151
Interest revenue 23
Salaries and wages expense 70
Travel expense 27
Total $3074 $3074
Net income for the year is:.
a. $120.
b. $240.
c. $77.
d. $174.

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.

Factors like the unemployment rate,the stock market,global trade,economic policy,and the economic situation of other countries have no influence on the financial status of individuals. true or false

Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?