Started the company when it acquired $20,000 cash from the issue of common stock. purchased a new cooktop that cost $19,000 cash. earned $33,000 in cash revenue. paid $17,000 cash for salaries expense. paid $7,100 cash for operating expenses. adjusted the records to reflect the use of the cooktop. the cooktop, purchased on january 1, year 1, has an expected useful life of four years and an estimated salvage value of $2,000. use straight-line depreciation. the adjusting entry was made as of december 31, year 1.

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency, government intervention can improve overall welfare o markets allocate goodseffectively