Answer:
a shortage would arise since quantity demanded would exceed the quantity supplied
Explanation:
The law of demand states an inverse relationship between price of a good and it's demand.
In the given case, per month rental for rooms has significantly reduced for students. This would result into an immediate increase in demand for the rooms. Now since, the rooms available are limited in number, a shortage would arise.
Owing to such a shortage, a possibility would arise wherein students who do not require such rooms may avail such rooms at $500 and subsequently let out the rooms to outsiders at anything below $900 thereby earning a profit.
<span>The American Opportunity Credit is a tax credit that is offered on education expenses for eligible students that qualify. It is only applicable in the first four years that a student is attending a type of higher education and the maximum yearly credit caps out at $2500 per student who is eligible.</span>
Answer and Explanation:
The journal entry is shown below:
Peter ($174,000 - ($66,000 ÷ 2)) $141,000
Chong ($162,000 - ($66,000 ÷ 2)) $129,000
To Cash $270,000
(Being the distribution should be recorded)
For this the capital accounts are debited as it reduced the stockholder equity and credited the cash as it also decreased the assets
Answer:
The correct answer is letter "B": You will not have access to Federal student aid, such as scholarships, grants, and loans.
Explanation:
Application to the Free Application for Federal Student Aid (FAFSA) is not mandatory. However, students who do not submit an application <em>will not be provided any financial aid</em> in their studies which implies paying several thousands of dollars more than if approved to the grant.
