a. what happens to the number of sandwiches and ice cream cones consumed if the price of ice cream cones rises to $2 a piece?

Answers

Answer 1

It is to be noted that the demand for sandwiches and ice cream cones consumed after the price of ice cream cones rises to $2 a piece will both reduce (all things being equal).

Why would the demand for both items reduce?

The demand for both goods will both come down because they are complementary or joint demand goods.

A pair of goods are termed "joint demand" when both must or usually is consumed with the other.

Recall that (where all things are equal) demand will decrease as price increases.

Learn more about demand at;
https://brainly.com/question/1245771
#SPJ11


Related Questions

An increase in venous return will _______

Answers

An increase in venous return will increase EDV and therefore, increase stroke volume

What are venous return?

Venous return is a term used to describe the  flow of blood from the periphery back to the right atrium.

An increase in venous return will increase EDV and therefore, increase stroke volume. These increased pulmonary venous return to the left atrium leads to increase the filling of the left ventricle.

Learn more on venous return here: https://brainly.com/question/14168379

#SPJ12

1. What area of law protects the sale of a home?

common law

contract law

statutory law

criminal law

2. With respect to a contract, what does the term “consideration” mean?

Both parties agree to be considerate to one another.

Something of value must be exchanged between the parties.

One party offers valid terms, and the other party accepts those terms.

The terms of the contract are enforceable.

3. Which system of law is a complete set of rules enacted as a single written system or code?

common law

administrative law

civil law

statutory law

Answers

1 contract law

2 Something of value must be exchanged between the parties.

3 civil law

Why is the law important?

Laws are created for protect our general safety, and ensure our rights as citizens against abuses by other people, by organization's, and by the government itself. We have laws for help provide to our general safety.

How many kinds of Laws?

Natural or Moral Laws: Natural laws are the belief that certain laws of morality are inherent by human nature, reason, or religious belief.

Scientific LawsImperative LawsCommon LawsCriminal Laws

Learn more about Law here https://brainly.com/question/6590381

#SPJ10

A firm operating in a perfectly competitive market is a price taker because:

Answers

Firms in perfectly competitive markets are considered price takers because they do not set the price of their goods and services.

What is a price taker?

This refers to a supplier who does not set the price at which they sell their own goods and services but rather takes the price set by the market.

Perfectly competitive markets are like this because suppliers have to face a lot of competition.

Find out more on price takers at https://brainly.com/question/15416827.

#SPJ12

Suppose a piece of equipment cost $35,000 and has accumulated depreciation of $10,000. It is sold for $15,000 cash. What is the journal entry to record the sale of the equipment

Answers

The amount of the journal entry are as follows:-

Cash                                           $15000

Accumulated Depreciation         $10000

Equipment cost                         $35000

Loss on sale                               $10000

What is Depreciation?

An asset loses value over time as a result of use, damage, or obsolescence. Depreciation is the measurement for this decline.

The complete solution is attached below.

Depreciation, or a decline in asset value, can be brought on by a variety of other variables, such as bad market conditions, etc.

Thus the journal entry credit amount is Equipment cost $35000 and Debit amount of the journal entry are Cash $15000 Accumulated Depreciation $10000 and Loss on sale $10000.

Learn more about Depreciation here:

https://brainly.com/question/15085933

#SPJ1

In the context of brand extensions, stretchability of a brand depends on: a. preventing the transfer of meaning from the new branded product to the original brand schema. b. consumers' ability to process relationships between the parent brand and associated products. c. consumers' rejection of the fit between the parent brand and other products on which it appears. d. finding consumers with the same degree of liking for a parent brand. e. the usage differences between parent brand and associated products.

Answers

The answer should be A

If Microsoft were to dominate the entire software industry, effectively eliminating all other competitors, then Microsoft would be seen in economic terms as (a/an)

Answers

If Microsoft were to dominate the entire software industry, effectively eliminating all other competitors, then Microsoft would be seen in economic terms as a monopolist.

What is a monopoly?

Monopoly is the exclusive ownership resulting from a legal advantage, control over the supply, or collective action.

Numerous well-known businesses, such as dining establishments, hair salons, clothes, and consumer electronics, are subject to monopolistic competition. McDonald's and Burger King are two excellent examples. Both are fast food companies that cater to the same clientele and provide comparable goods and services.

Learn more about monopolistic here:

https://brainly.com/question/15413375

#SPJ4

_____ is the most common, real-world method of estimating projects. Group of answer choices Delphi Technique Time Boxing Bottom-Up Estimating Guesstimating Top-Down Estimating

Answers

Bottom-Up Estimating is the most common, real-world method of estimating projects. Option c is correct.

What is the bottom up estimating technique?

This is the  term that is used to refer to the estimation of work by making use of the details that are the possible least.

This method is known to be the most common method that is made use of while going through real world projects.

Read more on the Bottom-Up Estimating here:

https://brainly.com/question/17283932

#SPJ1

Market owner Lucy buys 12 cans of baby formula off of Mark--Lucy plans to sell them in her market even though she knows (or should have known) Mark got the cans of formula by illegal means. Lucy has committed the crime of:

Answers

If Mark got the cans of formula by illegal means. Lucy has committed the crime of: d. Fraud.

What is fraud?

Fraud can be the defined as the act of defrauding someone by deceiving them because of the financial gain the defrauder what to gain.

Based on the given scenario the act committed by Lucy is fraudulent act because she knew the can of formula was gotten through illegal means and she went ahead to still buy it from Mark.

Therefore  Lucy has committed the crime of:d. Fraud.

Learn more about fraud here:https://brainly.com/question/1260589

#SPJ1

The complete question is:

Market owner Lucy buys 12 cans of baby formula off of Mark--Lucy plans to sell them in her market even though she knows (or should have known) Mark got the cans of formula by illegal means. Lucy has committed the crime of:

a. larceny

b. receiving stolen goods

c. arson

d. fraud

Tommy wishes to determine the return on two stocks she owned in 2019. At the beginning of the year, stock X traded for $81per share. During the year, X paid dividends of $5 At the end of the year, Xstock was worth $72 Calculate the annual rate of return, r, for X (Enter the answer in % format without % sign -> 20.51 and not 20.51% or 0.2051)

Answers

The annual rate of return based on the information is 1.24%

How to calculate the annual rate?

Based on the information given, the annual rate of return will be:

= (Future price + Dividends - Last year price)/ Lat year price × 100

= (72 + 5 - 81)/81 × 100

= 1/81 × 100

= 0.0124

= 1.24%

Therefore, the annual rate of return is 1.24%.

Learn more about annual rate of return on:

brainly.com/question/12946716

#SPJ12

which of the following is not an economic goal of leaders of most nations? a. efficiency b. price stability c. growth d. full employment e. excess goods and services

Answers

One thing that is not the economic goal of most nations is e. excess goods and services.

What economic goals do most countries want?

Most countries want to be able to provide their people with an adequate living standard.

For this to happen, the economy needs to be growing and have price stability as well as full employment. There is no need for excess goods and services because this represents a waste of resources.

Find out more on economic goals at https://brainly.com/question/3140788.

#SPJ11

Which accounting method correctly reflects the results in finacial statements

Answers

The accounting method that correctly reflects financial statement results is Accrual accounting.

What is accrual accounting?

This is a type of accounting that takes into account the various transactions that the business goes through even those that are not cash-based.

This will therefore accurately reflect the results of the financial statement because business get involved in non-cash transactions as well as cash transactions.

Find out more on accrual-based accounting at https://brainly.com/question/25817056.

#SPJ12

The role of the Federal Open Market Committee is to:

Answers

Correct Option B : The role of the Federal Open Market Committee is to appoint the Federal Reserve Board of Governors.

The Open Market Committee (FOMC) is a regulator, but it is only loosely "controlled" by the laws that make it up and by the organizations to which it belongs (the Federal Reserve Board of Governors, and the 12 Federal Reserve District Banks, which are owned in turn by Private Banks).

Learn more about Federal Open Market Committee here :

https://brainly.com/question/13794291

#SPJ10

Answer: D. Set monetary policy for the United States.

Explanation: just did the test :) hope it helps you

1. describe a buying situation in which you were successfully cross-sold and a situation in which you were ""traded up.""

Answers

To cross-sell is a phenomenon in sales that means to sell a product to a customer because of the initial product that they purchased. A great example would be purchasing a memory card because one purchased a mobile phone.

What does it mean to Trade-Up?

Trading up simply refers to giving up a product for a more expensive one. An example would be trading up a 1995 Mercedes Benz for a 2022 BMW.

The two sales phenomenon described above can be used as strategies for sales.

Learn more about sales at:
https://brainly.com/question/4978438
#SPJ11

Business analytics use Blank______ to derive meaning form data by finding patterns to make future predictions. Multiple choice question. facts analysis algorithms knowledge

Answers

Business analytics use Blank algorithms to derive meaning form data by finding patterns to make future predictions.

What is Business Analytics?

Business analytics (BA) is a fixed of disciplines and technology for fixing commercial enterprise issues the usage of records analysis, statistical fashions and different quantitative methods. It includes an iterative, methodical exploration of an organization's records, with an emphasis on statistical analysis, to force decision-making.

Data-pushed businesses deal with their records as a commercial enterprise asset and actively search for methods to show it right into a aggressive advantage. Success with commercial enterprise analytics relies upon on records quality, professional analysts who apprehend the technology and the commercial enterprise, and a dedication to the usage of records to benefit insights that tell commercial enterprise decisions.

Learn more about  Business Analytics on:

brainly.com/question/26299461

#SPJ4

The marketing concept that relates to the idea that the entire organization must be focused on customer satisfaction is called the:

Answers

The marketing concept that relates to the idea that the entire organization must be focused on customer satisfaction is called the: service orientation.

What is service orientation?

This is the strategy that businesses would take in order to ensure that they put their customer satisfaction on a high pedestal.

The goal is to be able to meet and deliver the needs of the consumers even before they are articulated by the consumers.

Read more on service orientation here:

https://brainly.com/question/11962394

#SPJ12

Percy Corporation was formed on January 1. The corporate charter authorized 100,000 shares of $10 par value common stock. During the first month of operation, the corporation issued 230 shares to its attorneys in payment of a $4,300 charge for drawing up the articles of incorporation. The entry to record this transaction would include:

Answers

The journal entry for the transaction as mentioned above will include a debit in the organizational expenses for $4,300.

What are the golden rules of a journal entry?

As per the golden rules of a journal entry, all the expenses of an organization, whether direct or indirect are debited. Thus, in the above case, the organization expenses will be debited.

Hence, the significance of a journal entry is aforementioned.

Learn more about journal entry here:

https://brainly.com/question/20421012

#SPJ1

Country M wants its regional trading group of countries to have a common currency and common monetary and fiscal policies. This level of integration is called a(n) ________.

Answers

Country M wants its regional trading group of countries to have a common currency and common monetary and fiscal policies. This level of integration is called a(n)  Economic Integration.

What Is Economic Integration?

Economic integration is an arrangement among nations that typically includes the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies. Economic integration aims to reduce costs for both consumers and producers and to increase trade between the countries involved in the agreement.

Economic integration is sometimes referred to as regional integration as it often occurs among neighboring nations. Economic integration refers to the agreement between the economies of the world in a given geographic region in order to reduce trade barriers such as removal of trade tariffs, free flow of goods, etc. This facilitates global trade and economic cooperation wherein the countries engage them in encouraging and promoting the trade business of each other.

Learn more about  Economic Integration on:

brainly.com/question/12495509

#SPJ4

________, which are incurred when pursuing a related-diversification strategy, are a function of the number, size, and types of businesses that are linked to one another.

Answers

coordination costs which are incurred when pursuing a related-diversification strategy, are a function of the number, size, and types of businesses that are linked to one another.

What are coordination costs?

This is the term that has to do with the type of costs that people come about through the fact that they collaborate.

Firms are made to work together so that they would be able to carry out an activity.

Read more on coordination costs here:

https://brainly.com/question/24940564

#SPJ12

Enterprise systems help managers and companies improve their performance by

Answers

The enterprise systems improves the managers and companies  performance by Integrating an internal business processes and link to external business partners.

What is an enterprise planning resources?

This resource planning refers to the management and integration of business processes through a single system.

Hence, the systems improves the managers and companies  performance by Integrating an internal business processes and link to external business partners.

Read more about enterprise system

brainly.com/question/3369578

#SPJ12

if you are in the 20 percent tax bracket, what is your aftertax yield on a par value municipal bond yielding 5 percent? ignore state and local taxes.

Answers

if you are in the 20 percent tax bracket, Five percent. For this reason, the after-tax yield is the same as the pre-tax yield since interest income from Muni is free from federal income tax. This is further explained below.

What is tax?

Generally, taxation  is simply defined as a kind of mandatory public financing that is assessed on the purchase price of certain products and services as well as on the earnings of individuals and businesses.

In conclusion, there would be a 5% reduction if your tax bracket was 20%. Since interest income from Muni is exempt from federal income tax, the after-tax yield is identical to the pre-tax rate.

Read more about tax

https://brainly.com/question/16423331

#SPJ12

An alcohol server must complete an abc approved rbs training program and pass an abc administered exam within ____ calendar days of employment.

Answers

An alcohol server must complete an ABC-approved rbs training program and pass an ABC-administered exam within 60 calendar days of employment.

Who is an Alcoholic Server?

This refers to the person that pours the alcoholic drink to people that come to bars to buy.

Hence, we can see that based on government regulations, an alcoholic server is mandated to take an ABC-approved exam within the period of 60 days after he has been employed.

Read more about alcohol servers here:

https://brainly.com/question/11885626

#SPJ1

The size of the money multiplier is: Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices not fixed but depends on how much of their assets banks want to hold as reserves. not fixed but depends on interest rates. not fixed but is set by the Federal Reserve. equal to 2.

Answers

The money multiplier in the United States is not fixed but is set by the Federal Reserve.

What is the money multiplier?

It is a figure that measures the total amount of money that can be derived from a single deposit into the financial system.

It is set by the Fed though indirectly when the Fed sets the required reserve ratio. This is because the money multiplier is calculated as:

= 1 / required reserves

Find out more on the money multiplier at https://brainly.com/question/4412587.

#SPJ12

Managers in a cosmetics factory have been having problems with employees starting cliques. To develop more of a team culture, the ceo suggested utilizing mary parker follett’s idea that companies should.

Answers

To develop more of a team culture, the ceo suggested utilizing mary parker follett’s idea that companies should: C. Operate as a community, with employees working in harmony.


What is team culture?

Team culture can be defined as the way  in which team members are united and they tend to understand the purpose or goals of the team by ensuring they all achieve the set goals.

Mary parker follett’s idea  stated that companies should  work as a community including the employees working in unity.

Therefore the correct option is C.

The missing options are:

A. Increase diversity.

B. Utilize time-motion studies.

C. Operate as a community, with employees working in harmony.

D. Implement a more rigid environment.

E. Strive to cut costs and increase efficiency.

Learn more about Team culture here:https://brainly.com/question/27778728

#SPJ1

______ for an expatriate is the combination of many types of payments or reimbursements and must take into consideration exchange rates and inflation.

Answers

Compensation package for an expatriate is the combination of many types of payments or reimbursements and must take into consideration exchange rates and inflation.

What is compensation package?

Compensation package can come in form of monetary payment given to an individual or employee.

This can be money accrued over a long time.

Therefore, compensation package for an expatriate is the combination of many types of payments or reimbursements and must take into consideration exchange rates and inflation.

Learn more on compensation package below,

https://brainly.com/question/1156377

#SPJ11

On November 1, Jovel Company loaned another company $100,000 at a 6% interest rate. The note receivable plus interest will not be collected until March 1 of the following year. The company's annual accounting period ends on December 31. The amount of interest revenue that should be reported in the first year is:

Answers

The amount of interest revenue that will be recorded in the books of Jovel Company as on December 31 will be $1,000.

What is interest revenue?

The revenue which is generated by a company by the way of earnings made through interest over debts during a financial period is known as an interest revenue.

Using the above information, it can be ascertained that the total interest revenue over a loan of $100,000 will be $6,000, however, it was issued on November 1, and accounts close on December 31, so the interest revenue for 2 months will be computed as under,

[tex]\rm Interest\ Revenue\ for\ 2\ Months= \dfrac{Total\ Interest\ Revenue}{12}\ x\ No.\ of\ Months\\\\\rm Interest\ Revenue\ for\ 2\ Months= \dfrac{6000}{12}\ x\ 2\\\\\rm Interest\ Revenue\ for\ 2\ Months= \$1000[/tex]

Thus, the interest revenue has been computed as above.

Learn more about interest revenue here:

https://brainly.com/question/19165765

#SPJ1

Wright Aircraft, Inc. Wright Aircraft is the global leading builder of long-haul jet aircraft for civilian aviation. Management expects the company to maintain its leadership for the foreseeable future. Wright is considering two projects to develop an improved engine control system to to improve fuel utilization (an important factor in airlines' aircraft purchase decisions). Cash flows due only to sales of the new system are included in Chapter 2. (Assume the projections reasonably reflect the facts of the case.) Project Lindbergh utilizes a revolutionary technology to increase fuel utilization 15%. Project Lindbergh's system can be used on all airline aircraft, whether purchased from Wright or its competitors, and on Wright's next product generation. Project Post utilizes an existing technology that promises to increase fuel utilization 5%. Project Post's system can be used on Wright aircraft only. What discount rate should you use for each project?
Project Lindbergh -(000s of $s) Chapter 1: R&D Phase Chapter 2: Launch and Commercialization Year ($7.500) ($6,000) ($3,500) ($1,500) $60,000 $125,000 $175,000 $235,000 Probability of Techical Success 35% 55% Stage Gate 1 - End of Year 2 - Satge Gate 2 - End of Year 4 Project Post (000s of $s) Year Chapter 1 Cash Flows Chapter 2: Launch and Commercialization 234 5678 ($5,500) ($3,000) ($1,500) $10,000 $20,000 $25,000 $35,000 $45,000 60% Probability of R&D Success (1 stage gate - end of Year 2)

Answers

A 25% discount rate for Project Lindbergh and 15% discount rate for Project Post are used.

How to depict the information?

The question pertains to capital budgeting and the formula used to calculate Present Value (PV) of future Cash flows is (CFt / (1+r)^t) and NPV is the sum of PV of all future cash flows from t=1 to t=8.

Also,, the probability of success is given for both projects. In the first project, it is 0.35 multiplied by 0.55 and in the second Project, it is 60%.

The NPV should be multiplied by the probability of success in order to get the expected NPV from both projects. The expected NPV of Project 2 is higher than Project 1.

Therefore, the management should go ahead with Project 2.

The missing part of the question:

Project Lindbergh utilizes a revolutionary technology to increase fuel utilization 15%. Project Lindbergh's system can be used on all airline aircraft, whether purchased from Wright or its competitors, and on Wright's next product generation. Project Post utilizes an existing technology that promises to increase fuel utilization 5%. Project Post's system can be used on Wright aircraft only. please assume a 25% discount rate for Project Lindbergh and 15% discount rate for Project Post.

Learn more about discount rate on:

https://brainly.com/question/13660799

#SPJ1

A loan in which a parent deposits money with a host-country bank, which then lends the money to a subsidiary located in the host country is known as a(n) ________.

Answers

A loan in which a parent deposits money with a host-country bank, which then lends the money to a subsidiary located in the host country is known as a back-to-back loan.

What is a back-to-back loan?

A back-to-back loan is a deal in which two parent corporations from separate nations borrow equal sums of money in their home currencies and lend it to the local subsidiary of the other.

While businesses could trade money on the currency markets, back-to-back loans can be more practical and provide the necessary currency. However, back-to-back loans have mainly been replaced by currency swaps and other comparable instruments. Nevertheless, these tools support global trade.

Learn more about loans here:

https://brainly.com/question/26390951

#SPJ4

Connors company paid​ $700 cash to make a repair on equipment it sold under a​ one-year warranty in the prior year. The entry to record the payment will debit:.

Answers

The Journal entry to record the payment will include a debit to Accrued Warranty Payable for $700 and a credit Cash for $700.

What is a Warranty account?

This account is used by firm to allocate expenses for replacing or repairing damaged products for customers.

Hence, for Connors company, the Journal entry to record the payment will include a debit to Accrued Warranty Payable for $700 and a credit Cash for $700.

Read more about Warranty account

brainly.com/question/25750069

#SPJ1

You have older parents who have been saving for retirement for decades. They are now getting close to retirement age and are looking at their options. One would like to leave everything in the pension fund and draw out a fixed, unchangeable amount over their retirement time. Your other parent wants to take out a chunk of retirement funds and purchase a business and use the profit from it to generate funds on which to live. You have noticed that inflation over the last year is on a rapid rise. What would you advise your parents to do based on what you know of inflation and its redistribution of purchasing power

Answers

Based on my knowledge of inflation and its redistribution of purchasing power, I would advise my older parents to embark on Plan B by purchasing a business.

How does inflation redistribute purchasing power?

Inflation redistributes purchasing power by giving less value to lenders and savers than to borrowers and investors.

The purchasing power of a fixed money plan decreases.  On the other hand, the purchasing power from variable investment changes with inflation.

A business would also increase its value over time more than a fixed investment.

Thus, based on my knowledge of inflation and its redistribution of purchasing power, I would advise my older parents to embark on Plan B by purchasing a business.

Learn more about inflation and purchasing power at https://brainly.com/question/16467725

#SPJ12

When conducting an immediate charge on 2023 ariya, what is the first step if the timer is set?.

Answers

The first step to perform when conducting an immediate charge is to press the immediate charge switch on the lower left dash.

What is an immediate charge?

This is a vehicle features that allows a quick charge of the engine.

However, the first step to perform when conducting an immediate charge is to press the immediate charge switch on the lower left dash.

Read more about ariya

brainly.com/question/27930984

#SPJ1

Other Questions
culture started with 2,000 bacteria. After 3ours, it grew to 2,600 bacteria. Predict howany bacteria will be present after 9 hours.ound your answer to the nearest wholeumber.P = Aekt Help please asap!!! How many electrons are in a ion that has 16 protons and 59 neutrons if it has negative 2 charge? 324.55 cm - (6104.5 cm/22.3 cm) A doctor confirms that a patient is overweight after performing multiple tests and calculating the patient's bodymass index (BMI).Which strategy will the doctor most likely recommend to help the patient reduce his weight in a healthy way?Follow a workout plan if there is extra time in the day.Eat one serving of fruit each week.Follow a diet that increases food consumption.O Join a weight-loss support group. How many stereoisomers could exist for the following structure?481632 The minimum recommended frequency of a cardiorespiratory fitness program is:. Use the figure to decide the type of angle pair that describes Describe the characteristics that identify a sample of matter as being a substance. The coldest temperature ever recorded in New York City was -15F on February 9, 1934. The next day, the temperature rose 42F. Write an expression for the temperature on February 10. a nurse is caring for a newborn client who is diagnosed with myelomeningocele. which nursing intervention would protect the newborn from injury? deduce the molecular formula of hydrogen 18.2%, carbon 81.8%, relative molecular mass is 44 What is an important similarity between the uniform and normal probability distributions? Let f(t) represent the temperature of a turkey baking in an oven as a function of time (t) in the oven (in minutes). This means time (t) is the independent variable and temperature of the turkey f(t) is the dependent variable. The turkey was in the oven for 360 minutes and then removed. Note that when something is baked in an oven, the temperature of the oven stays constant. The graph of the function is shown below. Describe the rate of change pattern over each interval of the graph listed below. a. 0 < t < 345b. 345 < t < 360c. t > 360 Explain what is happening in each interval of your graph in terms of the turkey and its temperature, using complete sentences.Let's say that the turkey sat on the counter for an additional hour (beyond the 390 minutes) and its temperature cooled to 80 degrees. Write that value in function notation. Suppose y varies inversely as x, and y = 16 when x = 1/2. Find y when x = 17. Ive been stuck on this question for so long please somebody help I really need help Settlement in the New World was not the Pilgrims first attempt at relocating. From where did the Pilgrims set sail to the New World?the Netherlands, where they had sought religious freedom.the Netherlands, where they had faced religious persecution.England, where they had sought religious freedom.England, where they had faced religious persecution. A boy with a mass of 40kg carries a load of 10kg up a stairs of 3m given(ForceEffort) calculate the force used to carry the box up the stairs.a.30jb.500jc.1200jd.1500jtq for answering. (LOOK AT PHOTO) What is the quotient of the rational expression below?x-49 x-14x+49x+23x+6 Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Account Title Debits Credits Cash35,500 Accounts receivable43,000 Supplies3,000 Inventory63,000 Notes receivable23,000 Interest receivable0 Prepaid rent2,500 Prepaid insurance9,000 Office equipment92,000 Accumulated depreciation 34,500 Accounts payable 34,000 Salaries payable 0 Notes payable 53,000 Interest payable 0 Deferred sales revenue 3,500 Common stock 81,000 Retained earnings 36,000 Dividends7,000 Sales revenue 161,000 Interest revenue 0 Cost of goods sold85,000 Salaries expense20,400 Rent expense12,500 Depreciation expense0 Interest expense0 Supplies expense2,600 Insurance expense0 Advertising expense4,500 Totals 358,600358,600Information necessary to prepare the year-end adjusting entries appears below.1. Depreciation on the office equipment for the year is $10,300.2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $900.3. On October 1, 2021, Pastina borrowed $50,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.4. On March 1, 2021, the company lent a supplier $20,600 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.5. On April 1, 2021, the company paid an insurance company $6,600 for a one-year fire insurance policy. The entire $6,600 was debited to prepaid insurance.6. $560 of supplies remained on hand at December 31, 2021.7. A customer paid Pastina $2,300 in December for 900 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.8. On December 1, 2021, $1,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $600 per month. The entire amount was debited to prepaid rent.Prepare closing entries.