The science of economics is needed because people have unlimited wants and needs and limited resources.
Economics is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behavior and interactions of economic agents and how economies work.
Economics is the study of scarcity and its consequences for the use of resources, the production of goods and services, the growth of production and well-being over time, and a host of other complex problems vital to society.
Economics is essentially the study of people. It seeks to explain what drives human behavior, decisions, and responses when faced with adversity or success. Economics is a discipline that combines politics, sociology, psychology, and history.
Learn more about economics here https://brainly.com/question/17996535
#SPJ9
What advice would you give a firm about how to respond to the changing marketing environment?.
What advice would you give a firm about how to respond to the changing marketing environment?
The advice would be: whenever possible, take a positive approach to the environment.
What is marketing environment?
The marketing environment includes all internal and external factors that control and influence an organization's marketing activities.Marketing managers must be aware of the marketing environment in order to maintain success and deal with threats or opportunities that may affect their work.The marketing environment is vast and diverse, consisting of controllable and uncontrollable factors. A good understanding of your marketing environment helps, Identify opportunities, Identify threats, Managing ChangeTo learn more about marketing environment, refer to:
brainly.com/question/28136248
#SPJ4
What are the advantages of public limited company
Answer:
Advantages Of A Public Limited Company
Raising Capital Through Public Issue Of Shares. ...
Widening The Shareholder Base And Spreading Risk. ...
Other Finance Opportunities. ...
Growth And Expansion Opportunities. ...
Prestigious Profile And Confidence. ...
Transferability Of Shares. ...
Exit Strategy. ...
More Regulatory Requirements.
Explanation:
In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.
Businesses are likely to reduce their choices of suppliers during the proposal analysis, vendor negotiation, and selection stages of the business-to-business purchasing process.
More about proposal analysis, vendor negotiation:
The proposal analysis report's predictions are contrasted with the proposal results. This report also displays how long a proposal has been open thus far.
Vendor negotiation is the strategic process of reaching an agreement that benefits the company and its third parties. It might involve a lot of conversations, compromises on both ends, and the use of soft skills.
Learn more about proposal analysis here:
https://brainly.com/question/13009016
#SPJ4
in the rare circumstance that production of an important good or service has been hobbled by asymmetric information, how might the government intervene?
The authorities has a wide variety of policy equipment at its disposal to correct uneven facts and to control externalities.
These encompass taxes, schooling programmes and production law supposed to increase the flow of statistics to consumers.
What occurs when there is asymmetric information?"Asymmetric information" is a time period that refers to when one birthday celebration in a transaction is in possession of greater information than the other. In certain transactions, agents can take advantage of buyers because uneven statistics exists whereby the seller has more information of the desirable being sold than the buyer
Learn more about asymmetric information here:
https://brainly.com/question/8002460#SPJ4true or false: the expectations theory of the term structure states that a series of short-maturity bonds must offer the same expected return as an investment in a single long-maturity bond.
The expectations theory of the term structure of interest rates states that the yields on financial assets of different maturities are related primarily by market expectations of future yields. The expectations theory has occupied a prominent place in both theoretical and policy debates at various times.
What is expectations theory ?According to the term structure's expectations theory, the long-term interest rate is a weighted average of the current and anticipated short-term interest rates in the future. The long rate will equal the short rate if forecasts for future short rates are consistent (plus a constant risk premium).
Expectations theory, market segmentation theory, and liquidity preference theory are the theories that make an effort to explain the term structure of interest rates. Due to the difficulty in observing the term structure in the market, spot and forward are calculated from the coupon curve.Learn more about Expectation theory here:
https://brainly.com/question/20630240
#SPJ4
When a corporation or government wishes to borrow money from the public on a long-term basis, it usually does so by issuing or selling debt securities that are generically called.
When a corporation or government wishes to borrow money from the public on a long-term basis, it usually does so by issuing or selling debt securities that are generically called bonds.
In a business, bonds are formed in order to represent the money that is borrowed from a lender by the borrower. Bonds make it easier to track how much debt has been taken and what will be the terms and conditions that will be applied in returning the money.
Bonds provide debt securities and are used by corporations and governments when they have to borrow money from the public on a long-term basis.
It becomes easier to get back the money that a lender has provided through the formation of bonds. It also helps in assessing the terms and conditions that are formed while making an agreement.
To learn more about bonds, click here:
brainly.com/question/25965295
#SPJ4
a salesperson working for a broker was disciplined for pursuing a flagrant and continued course of misrepresentations, making false promises, and failing to pay over money belonging to others. in this case, the broker’s license
only be suspended or canceled if Betty was aware of the salesperson's actions and took no action.
A professional license allows real estate agents to assist clients in the purchase, sale, and rental of real estate. They must be employed by a broker or brokerage business that sponsors them. Real estate agents who have met extra training and licensing requirements are called brokers. They have the option of working on their own and hiring other real estate brokers. A Realtor is a member of the National Association of Realtors and a licensed real estate agent, broker, or other real estate professional (NAR). Members are required to abide by the rigorous Code of Ethics of NAR. A real estate agent or salesperson that is also licensed can sell or rent certain properties is hired by a licensed broker, according to the definition of an employing broker.
To know more about broker license refer to https://brainly.com/question/28255336
#SPJ4
The demand for loanable funds is _____ sloping because _____ respond to lower interest rates by _____ their quantity demanded of loanable funds.
The demand for loanable funds is downward sloping because investors respond to lower interest rates by increasing the quantity demanded of loanable funds.
What are loanable funds?A hypothesis of market interest rates in economics is the loanable fund's concept. With this strategy, the supply and demand of loanable money determine the interest rate. All types of credit, including loans, bonds, and savings accounts, are referred to as "loanable money."
The loanable fund's concept adds bank credit to the traditional approach, which only considered saving and investments for determining interest rates. Due to the ability of the banking sector to generate credit out of thin air, the total quantity of credit available in an economy may exceed private savings. Therefore, in addition to the propensities for saving and investing, the creation or destruction of fiat money and credit also has an impact on the equilibrium (or market) interest rate.
To know more about loanable funds visit:- https://brainly.com/question/15851247
#SPJ4
if 1,000 units remain unsold at the end of the month and sales total $150,000 for the month, what is the amount of the contribution margin that would be reported on the variable costing income statement?
The amount of the contribution margin that would be recorded on the income statement for variable costing if 1,000 units are still unsold at the end of the month and sales total $150,000 for the month is not reported.
What is an income statement?One of the three key financial statements, together with the balance sheet and the cash flow statement, that summarizes a company's financial performance for a certain accounting period is the income statement.Net income is calculated as total revenue less gains minus total expenses plus losses.Total revenue is the sum of operational and nonoperating revenue, whereas total expenses cover both primary and auxiliary costs.Not all receipts are revenue. On the income statement, revenue is earned and shown. Cash receipts—whether received or disbursed—are not.A company's operations, managerial effectiveness, underperforming industries, and performance in comparison to competitors are all useful insights that may be gained from an income statement.To know more about income statement, refer to the following link:
https://brainly.com/question/15169974
#SPJ4
What information would be beneficial in determining if a company is a worthwhile investment?
What industries are on the upswing and will be needing more funding?
Are there individual companies with a great amount of potential growth?
The information that would be beneficial in determining if a company is a worthwhile investment is the business model, the earnings growth, and the plans of the company. Moreover, companies that focus on technology and services are more likely to need investors.
What information would be beneficial in determining if a company is a worthwhile investment?Before you invest in any company you need to understand how the company is doing and what will possibly happen with it in the next months and years. Due to this, it is a good idea to know about:
The mission of the company.The busieness model.The earnings growth.Plans and predictions.What companies require more investment?Considering the most important sectors in market are technology and services, it is likely these companies require more investment.
Are here individual companies with a great amount of potential growth?Yes, even small local companies can have a great potentia of growth depending on their model and products/services offered.
Learn more about investments in https://brainly.com/question/14682309
#SPJ1
a blank is a written document that includes the current marketing situation, specified objectives and strategies, action programs, and projected income statements.
A marketing strategy is a written document that details the present state of the market, specific goals and tactics, action plans, and anticipated financial results.
A marketing plan is a written document that describes the operations, clients, competitors, marketing strategies, and related costs of your business. A marketing plan is a strategy an organization will utilize to market and sell its products or services. The target market, the best way to contact them, the price point at which the product or service should be supplied, and how the business will evaluate its effectiveness are all identified in the marketing plan. Marketing objectives are the outcomes that a brand expects to obtain from its marketing activities. In order to strategically and narrowly target your efforts, they should be measurable (and practical). You may identify your target market and how your product or service can help it by using a marketing plan. Identify potential methods for luring new clients. Encourage your current clients to buy your goods and services again.Know more about marketing plan:
https://brainly.com/question/1438675
#SPJ4
If you are able to articulate thoughts and ideas clearly and effectively in written and oral forms to persons you know and to those of a wider, general audience, you have a proficiency in which competency?.
Listen.
Writing well and editing
Confidently make your case.
Leave the keyboard alone.
What would you say about your ability to communicate?Here is an example response: "I have honed great communication abilities via my professional experience and schooling, and I'm able to clearly explain themes to a variety of groups. Additionally, I'm a terrific listener, which helps me fully comprehend a situation and formulate the best course of action.
How would you characterize your spoken communication skills?Put words like "Ability to communicate ideas and messages" or "Proficient in delivering oral presentations" in your sentences. If you are bilingual, mention that on your resume along with a list of the languages you are fluent in.
To Know more about messages
https://brainly.com/question/28529665
#SPJ9
Based on their observations, what should the researchers do to further clarify how the availability of the protein outside the cells affects the rate of endocytosis of the protein?.
Incubate the cells in the presence of several different concentrations of the protein.
Reason: Changing the concentration of the protein will change the availability of the protein outside the cells.
What is Endocytosis?
A biological process called endocytosis allows chemicals to enter the cell. An region of cell membrane that surrounds the substance to be swallowed then buds off inside the cell to create a vesicle containing the substance to be ingested. Pinocytosis (cell drinking) and phagocytosis (cell eating) are two types of endocytosis . It is an active mode of transport.
The internalisation of the plasma membrane (PM) and its constituent membrane proteins and lipids happens during endocytosis, which takes place at the cell surface. Endocytosis controls a number of processes that are started at the cell surface. These comprise food assimilation, communication through cell-surface receptors, and numerous other procedures crucial for metazoan cells and tissues to operate. The maintenance of PM lipid and protein homeostasis depends on it as well.
To know more about Endocytosis refer:
https://brainly.com/question/26500494
#SPJ4
during the trial of a suit concerning liability for an accident involving cartage ltd. and docking inc., the plaintiff’s attorney presents evidence from emma, a commercial accident reconstruction specialist. with respect to the evidence in the case that falls within emma’s field, she can
Emma can provide her opinions and findings with regard to the evidence in the case that pertains to her area of expertise.
A trial is what?A court trial, also known as a bench trial or jury trial, is a hearing during which all relevant facts are presented, and the judge or jury then renders a verdict on the matter. In a bench trial, the defendant may elect to forego the right to a jury trial in favor of the judge's decision.
In contrast to a jury trial, which has a panel of the defendant's peers decide on the case, a bench trial leaves the choice up to a judge. Let's examine the many steps that occur throughout a court proceeding.
Learn more about the trial here:
brainly.com/question/13485586
#SPJ4
Although 80% to 95% of americans cherish their privacy as a very important right and principle, what percentage also act in ways that allow others to easily monitor and track their activities?.
60% of Americans believe that their activities are easily monitored and tracked on daily basis.
The freedom from interruption and intrusion is a component of privacy. To freely associate with anybody. To have the power to decide who can access or utilize information about you. An example of a circumstance where you have privacy is when you have your own room that no one else uses and you can store all of your belongings there out of sight of others.
The majority of Americans think that businesses and the government routinely follow and monitor their online and offline behavior. Six in ten U.S. citizens said they do not believe it is possible to live a normal life without having data on them gathered by businesses or the government. This is a prevalent condition of modern living.
To learn more about privacy
https://brainly.com/question/14603023
#SPJ4
Suppose that on your 21st birthday you are given a $1,000,000 trust fund. what interest rate must you earn to ensure that if you withdraw $20,000 per year there is money in the account forever?
The amount a lender charges a borrower is called an interest rate, and it is expressed as a percentage of the principle, or the lent amount. Typically, a loan's interest rate is expressed as an annual percentage rate, or APR (APR).
The right response is 5%.According to The Question,
The provided data are listed below in accordance with the scenario:
$1,000,000 yearly withdrawal$50,000 withdrawn annuallyConsequently, we can get the interest rate using the formula below:
Interest rate equals the annual withdrawal rate.
The calculation yields Interest Rate = $50,000 divided by $1,000,000, or 0.05 percent, or 5%.So, 5% should be the interest rate.
To Learn more about Interest Rate, Click the links.
https://brainly.com/question/13324776
https://brainly.com/question/14445709
#SPJ4
The purpose of "tell me" is all of the following except:
demonstrate the "how"
introduce something new
explain the "why"
set clear expectations
The purpose of "tell me" is to demonstrate the "how", introduce something new, explain the "why", and set clear expectations, but that's all. Because "tell me" is used when asking a question. And answer the "why" question.
The demo comes from the Latin "to prove", meaning "to show by argument or reasoning." To substantiate your point, you need to make a valid claim and provide an example of why you think it is true. A protest can also mean a public demonstration.
The demonstration is defined as demonstrating something by one's own example. An example of a demo is to show someone how to cook a meal. The demonstration is something that is made clear by reasoning, something that is done in action to clarify a situation. A show, on the other hand, means making the other person see something without explicit action.
Learn more about demonstration here:
https://brainly.com/question/15103686
#SPJ4
What is the cost per square inch? Round answers to the nearest hundredth if necessary.
The cost per square inch: To calculate the price-per-square-inch of a work of art is simple: you multiply the length of the piece by its width to get the number of square inches, and then you divide the price of the piece by the number of square inches. (You can also use united inches instead of square inches.)
“Cost” in its singular form refers to the sum of a total group; “costs” refers to all of the pieces within that group. For example, “the cost of a service includes material costs and labor costs.” From legal contracts to discussions of budgets, the difference between “cost” and “costs” often befuddles people.
In accounting, costs are the monetary value of expenditures for supplies, services, labor, products, equipment and other items purchased for use by a business or other accounting entity. It is the amount denoted on invoices as the price and recorded in book keeping records as an expense or asset cost basis.
Costs are the amount a business incurs to produce goods or provide services. Costs are important to your business because: It is to deplete the profits earned by the business. The difference between good and bad returns.
Learn more about costs here: https://brainly.com/question/25109150
#SPJ9
companies that engage in blank marketing typically benefit from favorable word of mouth, and outperform other companies financially. multiple choice question. sustainable comprehensive focused progressive
Blank marketing is generally used by sustainable companies to generate positive word-of-mouth and surpass competitors financially.
What is company?A corporation is a legal body that represents a group of individuals with a certain goal, whether they be natural, legal, or a combination of the two. Members of the company work together for a shared cause in order to accomplish clearly stated objectives.A company is a legal body created by a group of people to conduct and manage a business venture, whether it be commercial or industrial.Depending on the corporate legislation of its country, a corporation may be set up in a variety of ways for tax and financial responsibility reasons.A company is a legal person or an officially recognised commercial entity that has been registered under the Companies Act.It may be a private or public business, limited by guarantee or having a share capital, limited or unlimited, or community interest corporation.To know more about company, refer to the following link:
https://brainly.com/question/24553900
#SPJ4
What is the income number that Susan will likely list on her tax return?
What feature displays data that meets certain criteria and temporarily hides the rows that do not meet the specified criteria?
Answer:hhh
Explanation:
Andy, 68, has a gross estate currently valued at $2,500,000 that consists primarily of highly appreciated growth securities. Within the last six months, andy transferred $500,000 worth of these securities to his wife, harriet. His cost in these securities was $200,000. Harriet recently died. The fair market value of the transferred securities at the time of her death was $500,000. The securities passed to andy under the terms of harriet's will
If his cost in these securities was $200,000 and the fair market value of the transferred securities at the time of her death was $500,000. The income tax implication of the transfer of stock is $200,000.
Transfer of stockSince we were told his cost in the securities was the amount of $200,000 which means that basis the Harriet that received from the lifetime gift from Andy will be the same basis as that of Andy.
The reason why the basis will be the same is because Harriet died and did not live for more than a year, which in turn means that property is a basis since the property does not qualify as a reverse gift. Hence the basis will be the amount of $200,000.
Therefore If his cost in these securities was $200,000 and the fair market value of the transferred securities at the time of her death was $500,000. The income tax implication of the transfer of stock is $200,000.
Learn more about transfer of stock here:https://brainly.com/question/14259593
#SPJ1
The complete question is:
Andy, age 68, has a gross estate currently valued at $2,500,000 that consists primarily of highly appreciated growth securities. Within the last six months, Andy transferred $500,000 worth of these securities to his wife, Harriet. His cost in these securities was $200,000. Harriet recently died. The fair market value of the transferred securities at the time of her death was $500,000. The securities passed to Andy under the terms of Harriet's will.
Which one is an income tax implication of the transfer of stock?
bell international estimates that a $10 million loss will occur if a foreign government expropriates some company property. expropriation is considered reasonably possible. how should bell report the loss contingency?
The correct options are
The contingency is not accrued.This is a loss contingency.The contingency can be reasonably estimated.A disclosure note should describe the contingency.Since this loss resulted via expropriation, it serves as an illustration of loss contingency. This is a contingency that can be rationally estimated since we are provided with a specific amount (estimation of loss). Given the likelihood that the loss may really materialize, it is crucial to provide a disclosure statement that fully outlines the actual contingency (giving it a basis). A contingency plan, sometimes known as Plan B informally, is a strategy created to deal with a situation that wasn't anticipated in the original plan. It is frequently employed in risk management for a rare risk that, albeit uncommon, might have disastrous results.
To know more about contingency refer to https://brainly.com/question/14545598
#SPJ4
introduced the scientific management approach that advocated the application of scientific methods to analyze work and to determine how to complete production tasks efficiently.
Federick W. Taylor supported scientific management, generally known as Taylorism, as a management theory. It use scientific approaches to determine the most effective manufacturing process in order to boost productivity.
Why is Frederick Taylor referred to be the "Father of Scientific Management"?Frederick Winslow Taylor is known as the "Father of Scientific Management," also known as "Taylorism," because he believed that it was the role and responsibility of manufacturing plant managers to determine the best way for a worker to do a job, as well as to provide the necessary tools and training.
According to Henri Fayol, the five management roles are: planning, organising, command, coordination, and control. These five roles compose "management," one of Henri's six industrial activities.
learn more about scientific management refer
https://brainly.com/question/17313334
#SPJ4
a company sells widgets. the amount of profit, y, made by the company, is related to the selling price of each widget, x, by the given equation. using this equation, find out what price the widgets should be sold for, to the nearest cent, for the company to make the maximum profit.
The price should be, to the nearest cent, to make the maximum profit is 775.34.
What is the price the widgets should be sold for?
This is a quadratic equation and if you were to graph this you would see that it is a parabola that opens down because of the negative leading coefficient (-3).
The maximum profit would be at the vertex, of the graph. Therefore, we need to find the value of "y" when "x" is the line of symmetry. We find this by x=-b/(2a) where a = -3 and b = 152:
x=-152/(2)(-3)
x=-152/-6
x=152/6
We put this value of "x" into the original formula to find out the value of "y":
y=-3x2+152x-1150
y=(-3)(152/6)2+152(152/6)-1150
y=-1925.33+3850.67-1150
y=775.34
Therefore, the maximum profit would be 775.34.
To learn more about quadratic equation, refer:
#SPJ4
draw a curve that shows the effect of a new dip that increases the quantity of potato chips that people want to buy by million bags per week at each price. label the curve potato chips
Please find attached an image showing the shift of the demand curve to the right.
Demand for potato chips increases when the new dip is released on the market. However, it has no impact on supply. The demand curve consequently moves to the right.
The weekly increase in demand is 40 million bags. A rightward shift occurs in the demand curve. The new equilibrium quantity is 165 million bags each week, and the new equilibrium price is 85 cents per bag.
The new dip in the market for potato chips has two effects: it raises supply and demand for the snack food.
What is the Demand curve ?
The relationship between the cost of an item or service and the quantity demanded over a specific time period is represented graphically by the demand curve.The law of demand states that as the price of a given good rises, the quantity demanded decreases, all other things being equal. This is expressed by the demand curve moving downward from the left to the right.To know more about Fall in supply visit:
https://brainly.com/question/14929900
#SPJ4
Pendant publishing recently reported $5,070,642 in sales, $3,528,000 in cost of goods sold, $719,988 in other operating expenses, and $18,900 in depreciation. It had an interest expense of $43,828 and its federal-plus-state income tax rate was 40%. What was pendant publishing s ebit?.
Based on the computation of EBIT by using reported sales of $5,070,642, $3,528,000 in cost of goods sold, $719,988 in other operating expenses, and $18,900 in depreciation, then, the Earnings Before Interest and Taxes equals to $803,754.
What is an Earnings Before Interest and Taxes?In accounting, an Earnings Before Interest and Taxes refers to a company's net income before income tax expense and interest expenses are deducted. The finance tool is mostly used to analyze the performance of a company's core operations without the costs of the capital structure and tax expenses impacting profit.
Also, an Earnings Before Interest and Taxes is also known as operating income because they both exclude interest expenses and taxes from their calculations.
Computation of the EBIT
EBIT = Sales - (COGS+ Expenses+Depreciation)
EBIT= $5,070,642 - ($3,528,000+$719,988+$18,900)
EBIT= $803,754.
In conclusion, the the Earnings Before Interest and Taxes equals to $803,754.
Read more about EBIT
brainly.com/question/14565042
#SPJ1
Project irr. A firm evaluates all of its projects by applying the irr rule. The required rate of return is 14 percent. What is the irr of a project that requires an investment today of $158,500 and has an expected cash flow in one year of $175,000?.
The required rate of return—the opportunity cost offered on equivalent investments—is 14%, the IRR does not compare well with other equivalent investments, so this investment should be rejected.
A statistic used in financial analysis to calculate the profitability of possible investments is the internal rate of return (IRR). IRR is a discount rate that, in a discounted cash flow analysis, sets the net present value (NPV) of all cash flows to zero.
Calculations of IRR use the same formula as NPV calculations. Remember that the IRR does not represent the project's true financial worth. The yearly return is what reduces the NPV to zero.
In general, an investment is more desirable to make the more desirable it is to have a greater internal rate of return. IRR may be used to rank several potential investments or projects fairly since it is consistent across investments of various sorts.
Learn more about Internal rate of return (IRR), here
https://brainly.com/question/27833699
#SPJ4
during a strategic change, some employees are likely to lack the willingness or the ability to support the new strategy. the employees who are critical to implementing the new strategy may help it to take hold and ultimately influence the strategy’s effectiveness.
When a company is doing well, the employees and managers are capable to earn some of this price created through their corporations with the aid of what they are paid by means of the company.
This can be through certain advantages like bonuses or this can be thru their salary.
What is worker improvement strategy?An worker development plan, from time to time referred to as an employee growth plan, is a procedure for supporting persons improve skills for their modern-day job and acquire information and abilities for new roles and obligations in an organization.
Sometimes that capacity education them to be leaders, however no longer always.
Learn more about employee development here:
https://brainly.com/question/14619520#SPJ4the legislature adopted and the governor approved a budget. estimated traffic fine revenues were $1,500,000. appropriations were for parks and recreation program salaries of $1,300,000 and for parks and recreation program supplies of $180,000.
Answer:
To improve its recreation facilities and to reduce its unemployment...
To improve its recreation facilities and to reduce its unemployment rate, Empire State created the Ticonderoga Trails Special Revenue Fund. By law, all traffic fines collected by the state police were directed to be deposited into the Ticonderoga Trails Special Revenue Fund, and used only to pay for the supplies and salaries of individuals employed to create new hiking trails in Ticonderoga State Park. The Fund had the following transactions and events during calendar year 2018.
1. The legislature adopted and the governor approved a budget. Estimated traffic fine revenues were $1,500,000. Appropriations were for parks and recreation program salaries of $1,300,000 and for parks and recreation program supplies of $180,000.
2. Received traffic fine revenues of $1,520,000 during the year.
3. Paid salaries of $1,250,000 during the year.
4. Incurred a liability of $30,000 for salaries earned by employees during the last work week in December that will be paid early January 2019.
5. Issued purchase orders for supplies totaling $170,000.
6. Received deliveries of all the supplies ordered in the previous transaction. The supplies were inspected and vouchers were prepared for payment. Then, the invoices were paid.
Prepare journal entries to record these transactions and events, and A statement of revenues, expenditures, and changes in fund balance.
Explanation:
o improve its recreation facilities and to reduce its unemployment rate, Empire State created the Ticon- deroga Trails Special Revenue Fund. By law, all traffic fines collected by the state police were directed to be deposited into the Ticonderoga Trails Special Revenue Fund, and used only to pay for the supplies and salaries of individuals employed to create new hiking trails in Ticonderoga State Park. The Fund had the following transactions and events during calendar year 2018. Prepare journal entries to record these transactions and events, and prepare a statement of revenues, expenditures, and changes in fund balance 1. The legislature adopted and the governor approved a budget. Estimated traffic fine revenues were $1,500,000. Appropriations were for parks and recreation program salaries of $1,300,000 and for parks and recreation program supplies of $180,000 2. Received traffic fine revenues of $1,520,000 during the year. 3. Paid salaries of $1,250,000 during the year 4. Incurred a liability of $30,000 for salaries earned by employees during the last work week in De- cember that will be paid early January 2019. 5. Issued purchase orders for supplies totaling $170,000. 6. Received deliveries of all the supplies ordered in the previous transaction. The supplies were in- spected and vouchers were prepared for payment. Then, the invoices were paid.