Answer:
Explanation:
The statement of stockholder's equity comprises common stock and retained earnings. The ending balance after adjustment shown in the attached spreadsheet.
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
= $52,000 + $34,000 - $12,000
= $74,000
And, the ending balance of the common stock = Beginning balance of common stock + issued shares
= $71,000 + $20,000
= $91,000
The preparation of the statement of stockholders’ equity is presented in the spreadsheet. Kindly find the attachment below:
Amateurs who cash bad checks because of some financial crisis but have little identification with a criminal subculture are called naive check forger. Forgery is defined by general or common law as the fraudulent execution of a legal document, which entails liability.
The term "naive forgery" was created to describe forgeries carried out by people with no prior criminal history and no prior contact or interaction with offenders. It is intended to exclude forgeries that are committed as a byproduct of other crimes and forgeries that are either the initial or later stages of a criminal career. Forgeries of the kinds that have been eradicated sometimes occur when criminals enter a business office and discover a drawer full of checks, which they frequently — and foolishly — cash.
The forgeries produced by embezzlers and occasionally by con artists are also excluded, mostly because they serve as a byproduct or a secondary method of committing their crimes. The fact that the embezzler was in a position of trust further sets him apart from the forger. On the grounds that it unnecessarily restricts the range of crimes and hence lessens the effectiveness of our generalisations, the legitimacy of how we define the class of forgeries about which we attempt to generalise may be questioned. The nature of the prior records of individuals found guilty of forgery will provide the answer to any such question we may have.
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The short-run price elasticity of demand will be inelastic and the short-run price elasticity of supply will be inelastic.
Elasticity of demand measures the relationship that exists between price and quantity demanded.
Elasticity of supply measures how quantity supplied changes when there is a change in the price of a good.
<u><em>Types of elasticity.</em></u>
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Elastic demand (supply): This means that demand (supply) is sensitive to price changes
- Inelastic demand (supply): this means that demand (supply) does not respond to price changes. The coefficient of elasticity is less than one.
- Unit elastic demand (supply): demand (supply) changes in equal proportion. The coefficient of elasticity is equal to one.
<em><u>Factors that affect elasticity </u></em>
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The number of substitutes the good has: the more substitutes the good has, the more elastic demand is.
- The length of time: demand (supply) is inelastic in the short run. In the short run, producers (consumers) do not have enough time to find suitable substitutes. In the long run, producers would have more time to search for suitable substitutes or shift to the production of other goods when compared with the short-run.
- Ease of entry or exit into an industry: the more easy it is for firms to enter into an industry, the more elastic supply would be.
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