Answer:
c. there will be a surplus of candy bars.
Explanation:
A price ceiling is when the government or an agency of the government sets the maximum price for a good or service.
If a price ceiling is effective, the price ceiling is set below equilibrium price.
If price is set below equilibrium price, the quantity supplied would fall and this would lead to an excess of demand over supply. Also, scarcity of the product for which a price ceiling has been set would occur.
A black market would occur. There would be a drop in the quality of product as sellers would be trying to maximise profits.
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Answer:
$20,000
Explanation:
Calculation for what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense
Using this formula
Balance in the allowance for doubtful accounts=
(Outstanding Accounts Receivable
* Percentage uncollectible)- Eebit balance of in the allowance for uncollectible accounts.
Let plug in the formula
Balance in the allowance for doubtful accounts=($500,000*8%)-$20,000
Balance in the allowance for doubtful accounts=$40,000-$20,000
Balance in the allowance for doubtful accounts=$20,000
Therefore the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense is $20,000
Answer:
C) Sales Tax
Explanation:
The Government-wide Statement of Activities shows the revenues and expenses of the government and the general revenues indicate all the taxes, aid received from other governments and earnings from investments. According to that, the answer is that the option that is considered a source of general revenue in the Government-wide Statement of Activities is sales tax.
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