Answer:
$0
Explanation:
This transaction classifies as a § 351 exchange since Mr. Bass is exchanging his asset for 100% of Corporation C's stock.
§ 351 establishes that no gain or loss must be recognized when property is transferred in exchange for stock in a corporation. In order for this exchange to classify as § 351, the new stockholder must assume immediate control of the corporation as established by § 368 (c). This means that at least 80% of the stocks must be exchanged.
Answer:
the adjustment for estimated uncollectible accounts will require
b. Debit to Bad Debt Expense for $10,000.
Explanation:
There are two primary methods for estimating bad-debt expense. The first is an income-statement approach that measures bad debt as a percentage of sales.
Accout receivable at the end_ 80000
Credit sales_______________400000
Estimate________________ 2,50%
Debit bas debt expense______10000
Answer: The correct answer is "(B) Amputation procedures for diabetes sufferers".
The price elasticity of demand measures the degree of response of the quantity demanded of a good, given the change in the price of that good.
The demand for a good or service is less elastic when, given a change in the price, the demand varies in a smaller amount and the demand for a good or service is more elastic when, before a change in the price, the demand varies by greater or equal. Quantity than the price.
Between a diamond necklace and amputation procedures for patients with diabetes it is clear that the demand for amputation procedures for patients with diabetes is less elastic than that of a diamond necklace, since being a consequence of a disease and being treated of the health of the people the demand varies little or very little before a change in the price. On the other hand, a diamond necklace is a luxurious asset, which is not of extreme necessity for people.
Answer:
Debit: $300
Credit: $300
Explanation:
See attached picture for explanation.
Answer:
Long run aggregate supply (LRAS) is a theoretical concept and refers to the output that an economy can produce when using all its factors of production, and hence when operating at full employment. Graphically, it is a vertical curve indicating that, in the long run, output is not affected by changes in the price level.
