The supplies account balance on December 31, $4,750; supplies on hand, $960.3. Wages accrued but not paid, $2,700.4. Depreciation of office equipment, $1,650.5. Rent expired during year, $10,800.?
A) is allocatively efficient; the socially optimal price is allocatively inefficient. B) is allocatively inefficient; the socially optimal price is allocatively efficient. C) and the socially optimal price are both allocatively inefficient. D) and the socially optimal price are both allocatively efficient.
Assuming a statement of cash flows is prepared indicate the reporting of the transactions and events listed below by major categories on the statement. Use the following code letters to indicate the appropriate category under which the item would appear on the statement of cash flows.