Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $13,300 of common stock for cash. 2) The company paid cash to purchase $8,000 of inventory. 3) The company sold inventory that cost $5,400 for $11,150 cash. 4) Operating expenses incurred and paid during the year, $4,900. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $11,600 of inventory. 2) The company sold inventory that cost $9,600 for $17,750 cash. 3) Operating expenses incurred and paid during the year, $5,900. Note: Sanchez uses the perpetual inventory system. What is Sanchez's gross margin for Year 2

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Acompany recorded a check in its accounting records as $87. however, the check was actually written for $78 and it cleared the bank as $78. what adjustment is needed to the personal statement? a. decrease by $9 b. increase by $9 c. decrease by $18 d. increase by $9

The green revolution is a scientific breakthrough that improved seeds for basic crops. how did the green revolution impact the supply of basic crops such as wheat and corn? the supply of wheat and corn increased. there was no impact on the supply of basic crops. the supply of basic crops did not change, but the quantity supplied of basic crops increased. the supply of wheat and corn decreased.