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3 years ago

In two to three sentences, explain how a tariff on cars can reduce the demand for imported cars.

1 answer:

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A tariff by definition is a tax to be paid on a particular class of imports or exports. so if people had to start paying extra for imported cars the demand for imported cars would be reduced and the demand for more domestic vehicles would rise.

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Trez Company began operations this year. During this first year, the company produced 100,000 units and sold 80,000 units. The a

hjlf

Answer:

<u>Income statement for the company under variable costing</u>

Sales (80,000 units x $45) $3,600,000

Less Cost of Sales

Beginning inventory $0

Cost of goods manufactured (100,000 units x $19) $1,900,000

Cost of good available for sale $1,900,000

Less Ending inventory (20,000 x $19) ($380,000) ($1,520,000)

Contribution $2,080,000

Less Period Costs

Fixed Manufacturing Overhead ($600,000)

Selling and administrative expenses - Fixed ($400,000)

Selling and administrative expenses - Variable ($180,000)

Net Income / (loss) $900,000

Explanation:

Under Variable Costing.

1.Product cost = Variable Manufacturing Costs Only

Therefore, Product cost = $4 + $11 + $ 4

= $19

2.Period Cost = Fixed Manufacturing Overheads + Non - Manufacturing Costs

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2 years ago

Which of the following conditions ensures that excess profits cannot persist in a perfectly competitive market over the long run

konstantin123 [22]

Answer:

Ease of entry into the market

Explanation:

A perfect competition is characterised by many buyers and sellers of homogenous goods and services.

In the long run, perfect competition make zero economic profit because if firms are making economic profits in the short run , new firms would enter into the industry in the long run. This is made possible because of the ease of entry into the market.

I hope my answer helps you

3 0

3 years ago

The starting point for preparing the operating activities section using the indirect method is ______. Multiple choice question.

vitfil [10]

Net income serves as the beginning point for the indirect technique of preparing the operating activities section.

<h3>What does "net income" mean?</h3>

Net income is the amount of money left over after all costs, such as salaries and wages, the cost of commodities or raw materials, and taxes, have been paid. Net income is the amount that a person keeps after paying taxes, health insurance premiums, and retirement contributions.

<h3>How is net income demonstrated?</h3>

Operating income for the business was $23,000 after operating costs of $12,500. After deducting interest expense of $1,500 and adding interest income of $1,700, ABYZ arrived at a net income before taxes of $23,200.

<h3>What is net income post-tax?</h3>

A person's income after taxes and deductions is referred to as their net income.

learn more about net income here <u>brainly.com/question/15530787</u>

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1 year ago

Mr. Boyd and Ms. Tuck decide to form a new corporation named BT Inc. Mr. Boyd transfers $10,000 cash and business inventory ($20

kicyunya [14]

Answer:

1. Mr Boyd's share = 400, Ms Tuck = 800

2. Mr Boyd's realised gain = $16,800, recognized gain = $0, basis = $13200

Ms Tuck's realized gain = $18500, gain recognized = 0, basis = $41500

Explanation:

Total share = $1200

Cash received from Mr Boyd = 10000

FMV from him = 20000

Total value = 30000

FMV of equipment from Ms Tuck = 60000

Total value from both of them = 60000 + 30000 = $90000

Number of share Mr Boyd is to receive = 1200x(30000/90000)

= 400

Number of share Ms Tuck is to receive

= 1200x(60000/90000)

= 800

<u>Mr Boyd's gains</u>

Cash received = 10000

FMV = 20000

Total = 30000

Adjusted basis = 3200

Total tax basis = 10000+3200

Gain realized = 30000-13200

= 16800

Gain realized = 0 because it is a non taxable exchange.

Mr Boyd's realised gain = $16800, recognised gain = $0, basis = $13200

<u>Ms Tuck</u>

FMV = 60000

Adjusted tax basis = 41500

Gain realized = 60000-41500

= 18500

Gain recognized = 0(non taxable exchange)

Ms Tuck's realized gain = $18500, recognized gain = $0, basis = $41500

the FMV basis of inventory = 20000

carryover basis = 3200

equipment basis FMV = 60000

carryover basis = 41500

note that no gain if equal to or more than 80 percent of the ownership of the stock in a non taxable exchange.

6 0

3 years ago

Keiko manages a team of graphic designers. She distributes a document describing in detail each task for an upcoming project. Ea

seraphim [82]

Answer:

responsibilities scope

Explanation:

Keiko is describing responsibilities for each team member so each one knowns what is expected from them

4 0

3 years ago