Answer:
(B) A noncurrent liability of $4,000
Explanation:
The non-current liability in respect of deferred tax shall be recognised in the accounts of Bren Co. as at December 31 as follows:
Deferred income tax liability related to non-current assets= $15,000
Deferred income tax asset related to non-current liability = ($3,000)
Deferred income tax asset related to current liability = ($8,000)
Deferred income tax liability to be recorded at year end = $4,000
So based on the above discussion the answer is (B) A noncurrent liability of $4,000
Answer:
Gain= $14,500
Explanation:
<u>First, we need to calculate the book value of the equipment:</u>
Book value= purchase price - accumulated depreciation
Book value= 95,000 - 78,500
Book value= $16,500
<u>If the selling price is higher than the book value, the company made a profit by selling the equipment.</u>
Gain/loss= selling price - book value
Gain/loss= 31,000 - 16,500
Gain= $14,500
Answer:
Steps to Solving the Problems With Your Problem Solving
Step 1: Pin the Problem. Clearly define the issue at hand. ...
Step 2: Identify the Issues. Start breaking down the problem into subcomponents. ...
Step 3: Generate Hypotheses and Prioritize Proving Them. ...
Step 4: Conduct Your Analysis. ...
Step 5: Advance Your Answer
Answer:
C) consumer’s desired price is too low, producers may limit the amount produced
Explanation:
Free markets follow the laws of rational expectations, and supply and demand.
If consumers believe that any product or service is too expensive and does not provide enough satisfaction that will justify its high price, then they will simply not purchase it.
On the other hand, if businesses see that the quantity demanded for a good or service is too low, then they will reduce its production until an equilibrium quantity and price is reached. If businesses overstock themselves, they are going to lose money, and businesses are not willing to lose money.
Answer:
It can completely eradicate the use of human labors.
Explanation:
As technology became more advanced, sustaining economy using technology to replace humans will be much more cheaper compared to paying employees' salary.
So far. technology only used to replace repetitive /non-complex labors. Due to the development of Artificial Intelligence, technology will become capable to take up more complex jobs. Eventually, this will eradicate all available jobs and human are forced to develop new economic system around it.
