Answer:
Explanation:
The preparation of the statement of stockholders' equity at the end of the year is presented below:
Apex Systems Co.
Statement of stockholders' equity
For the fiscal year ended December 31, 2016
Particulars Common Stock
Beginning
Balance $1,340,000
Add: Net income $356,000
Less:
Bart Nesbit, Drawing -$91,200
Ending balance $1,604,800
Answer:
The incidence of a tax is determined by which group (buyers or sellers) must actually pay the government. FALSE, the real effect of taxes is measured by the price elasticity of the demand and the supply.
When demand is inelastic and supply is elastic, the burden of a tax falls mainly on producers. FALSE, when the price elasticity of demand is inelastic and the price elasticity of supply is elastic, the burden of tax falls mainly on the consumers.
When demand is elastic and supply is inelastic, the burden of a tax falls mainly on consumers. FALSE, when the price elasticity of demand is elastic and the price elasticity of supply is inelastic, the burden of tax falls mainly on the suppliers.
An excise tax can distort incentives and create missed opportunities for mutually beneficial transactions. TRUE
Answer:
Option C.
Explanation:
From the scenario presented above, Golden is not in any way liable for the inability to supply the total quantity of the 6-ounce yogurt containers, therefore, Golden can choose to reject the delivery of the 8-ounce containers.
Also, Golden can give Food Packaging a reasonable amount of time to enable them replace the containers, of Golden is not in a hurry to begin production and packaging.
Answer: True
According to the law of demand, the demand for a good increases when its price falls. Thus, when a fruit or vegetable is in season, it is relatively less expensive than in off seasons. Thus, consumers buy more of these seasonal fruits in season. Thus, demand for the good increases when it becomes cheaper.
Thus, the statement is true.
