Answer and Explanation:
The Journal entry is shown below:-
Cash A/c Dr, $20,000
Accounts Receivables A/c Dr, $140,000
($145,000 - $5,000)
Inventory A/c Dr, $101,700
Equipment A/c Dr, $81,200.
To Allowance for doubtful Accounts $4,400
To Payne's Capital A/c $338,500
(Being assets contributed by partner in business is recorded)
For recording the assets contributed by partner in business we simply debited the cash account, accounts Receivables, Inventory and Equipment as increase the assets while we credited the Allowance for doubtful Accounts as it decreasing the assets and Payne's Capital as increasing the stockholder equity.
Consumers express self-interest when they seek the lowest price for a product.
<h3>What is the meaning of self interest?</h3>
This is the term that has to do with the personal advantage that a person would have due to the choices that they make which they intend to suit them first before any other person. People seek for lower prices without having to care about the way that the request would affect the business that they are buying from.
Hence we can say that: Consumers express self-interest when they seek the lowest price for a product.
Read more on self-interest here: brainly.com/question/20566107
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Answer:
The multiple choices are:
A decrease of $9,500.
An increase of $9,500.
An increase of $30,500.
A decrease of $30,500.
An increase of 73,500.
The correct option is a decrease of $9,500
Explanation:
The changes in stockholders' equity is in the form of the difference between inflow to stockholders and outflow to stockholders.
Inflow to stockholders is the earnings attributable to them in form of net income while outflow is the dividends paid to them.
net income=revenues-expenses=$96,000-$85,500=$10,500
Dividends were paid to the tune of $20,000
change in stockholders' equity=$10,500-$20,000=-$9,500
In essence ,the opening balance of stockholders' equity went down by $9,500 since the net income generated of $10,500 was not enough to fund dividend payment
Answer:
The disallowed loss may be used to offset gain on the subsequent sale
Explanation:
A recognized gain or loss is simply refered to as the gains or losses that increase or decrease the gross income of taxpayers.
The Internal Revenue Code (IRC) §267 had laid out rules guiding or relations to the deductions of either losses or expenses between 2 or more related parties.
The related-party loss disallowance rules states that tax laws significantly treat parties involved as though they are the same taxpayer and does not allow recognition of losses on sales to related parties and it may be able to forthrightly deduct the disallowed loss by selling the property to an unrelated third party at a gain and also oonly if the related buyer sells the property at a gain(the related-party buyer sells it for more than she purchased it for).
On the condition that the related-party buyer sells the property for less than her purchase price from the related seller, then disallowed loss expires unused.
Answer:
Price level may increase or decrease and output decreases.
Explanation:
The price level is determinated bu the money supply and demand. A single price, in this case oil, cannot determinate prices or we end up in a loop.
So this is insufficient information to determinate the price level.
While the income decrease at a worldwide level will make the output of the economy even lower.