Taxation decreases the income earned by a firm by 28% it means this affects the business negatively and when taxation is paid it positively improve the economic growth
Explanation:
The journal entries are shown below:
On October 12
Purchases ($47,500 x 0.99) $47,025
To Account Payable $47,025
(Being the purchase of merchandise is recorded)
On October 12
Freight In $670
To Cash $670
(Being the freight charges is recorded)
On October 31
Account Payable $47,025
To Interest Expense $475
To Cash $47,500
(Being the payment for purchases is recorded)
Account Receivable $31,400
to Sales Revenue $31,400
(To record the sales on account)
On October 31
Cost of Goods Sold $20,550
Ending Inventory $59,145
To Beginning Inventory $32,000
To Purchases $47,025
To Freight In $670
(Being recording the adjusting entry is made)
Answer:
A. A change in the price of good X.
Explanation:
A demand curve plots price against quantity demanded. A change in price causes a movement along the demand curve according to the law of demand which says an increase in price leads to a reduction in quantity demanded and a fall in price leads to a rise in quantity demanded.
If the price of a complementary good increases, the demand for good x would fall and the demand curve would shift leftwards.
If income increases, and good x is a normal good, the demand curve would shift to the right.
If a change in taste and preference is in favour for good x, more of good x would be demanded and the demand curve would shift to the right.
I hope my answer helps.
Answer:
<h2> D. Repatriation restrictions should not affect the prices of commodities</h2>
Explanation:
Repatriation has to do with the conversion of foreign currency to home based currency. this is done in a bid to carry out international transaction effectively
while these items affects the prices of export
A. The tariff rate and value-added tax.
B. Transportation costs.
C. Prices of substitutes in foreign markets.
Answer:
Amount deductible as a charitable contribution=$175.
Explanation:
Given data:
Cost at which the ticket is purchased=$250
Actual cost of the ticket=$75
Required:
Amount deductible as a charitable contribution=?
Solution:
Any amount above the fair market value/Normal value will be the deductible charitable contribution.
In our case:
Amount deductible as a charitable contribution=Cost at which the ticket is purchased - Actual cost of the ticket.
Amount deductible as a charitable contribution=$250-$75.
Amount deductible as a charitable contribution=$175.
