May 1 Sold goods costing $6,600 to Wright Company on account, $11,000, terms 1/10, n/30. The goods are sold FOB shipping point, freight prepaid by seller, $110. May 7 Wright Company returned damaged merchandise previously purchased on account, $700. May 12 Received the amount due from Wright Company. Note: The entry to record the shipping payment to the delivery company is not required in this problem.

How does your household gain from specialization and comparative advantage? (what is produced, what is not produced yet paid to a specialist to produce? )

Determine if the following statements are true or false. an increase in government spending can crowd out private investment. an improvement in the budget balance increases the demand for financial capital. an increase in private consumption may crowd out private investment. lower interest rates can lead to private investment being crowded out. a trade balance in sur+ increases the supply of financial capital. if private savings is equal to private investment, then there is neither a budget sur+ nor a budget deficit.

Singer and mcmann are partners in a business. singer’s original capital was $40,000 and mcmann’s was $60,000. they agree to salaries of $12,000 and $18,000 for singer and mcmann respectively and 10% interest on original capital. if they agree to share remaining profits and losses on a 3: 2 ratio, what will mcmann’s share of the income be if the income for the year was $15,000?