Based on this model, households earn income when (firms /households) purchase (resources/goods and services) in resource markets.
suppose becky earns $650 per week working as an analyst for a-plus accountants. she uses $10 to order a mojito cocktail at little havana. little havana pays alex $250 per week to wait tables. alex uses $250 to purchase tax services from a-plus accountants.
identify whether each of the following events in this scenario occurs in the resource market or the product market.
1.alex earns $250 per week working for little havana. (resource market / product market)
2. becky spends $10 to order a mojito cocktail. (resource market / product market)
3. becky earns $650 per week working for a-plus accountants. (resource market / product market)
which of the elements of this scenario represent a flow from a household to a firm? this could be a flow of dollars, inputs, or outputs. check all that apply.
a. the mojito becky receives
b. the $250 alex spends to purchase tax services from a-plus accountants
c. the $250 per week alex earns working for little havana
d. becky's labor

The law firm of furlan and benson accumulates costs associated with individual cases, using a job order cost system. the following transactions occurred during july: jul. 3 charged 175 hours of professional (lawyer) time to the obsidian co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10 reimbursed travel costs to employees for depositions related to the obsidian case, $12,500. 14 charged 260 hours of professional time for the obsidian trial at a rate of $185 per hour. 18 received invoice from consultants wadsley and harden for $30,000 for expert testimony related to the obsidian trial. 27 applied office overhead at a rate of $62 per professional hour charged to the obsidian case. 31 paid administrative and support salaries of $28,500 for the month. 31 used office supplies for the month, $4,000. 31 paid professional salaries of $74,350 for the month. 31 billed obsidian $172,500 for successful defense of the case. required: a. provide the journal entries for each of these transactions. refer to the chart of accounts for exact wording of account titles. b. how much office overhead is over- or underapplied? c. determine the gross profit on the obsidian case, assuming that over- or underapplied office overhead is closed monthly to cost of services.