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3 years ago

How might the market imbalances caused by an anti-price gouging law be dealt with?

1 answer:

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When a company price gouges they are increasing the price of a good or service in relation to the demand or supply of the item. If there is an anti-price gouging law in place, that means that a company is not allowed to change the price of their product even when the market for it is high.

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The managers most important food safety responsibility is training you to

Advocard [28]

There are lots of responsibilities of a manager training their employees to handle food. Such as training the employees to clean the food prep area, thoroughly cook food and store food in the right temperature, and to wash their hands as well as tie their hair back.

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4 years ago

Read 2 more answers

The following selected information is from Princeton Company’s comparative balance sheets. At December 31 2017 2016 Common stock

lukranit [14]

Answer:

Princeton Company

The T-accounts are attached.

Explanation:

They can also be obtained as follows:

1. T-accounts to calculate the Cash received from the sale of its common stock during 2017:

Common Stock & APIC

Closing balance of common stock = $131,000

Closing balance of APIC = $593,000

less Opening balance of common stock = $126,000

less Opening balance of APIC = $355,000

Cash collected = $243,000

2. T-account to calculate the cash paid for dividends during 2017:

Retained Earnings:

Opening balance = $313,500

Add net income = $61,000

Less closing balance = $339,500

Cash Dividends paid = $35,000

Download xlsx

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3 years ago

On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway p

Delicious77 [7]

Answer:

DR Interest receivable 26,400

CR Interest revenue 26,400

Explanation:

As first lease has already been paid, the amount left of the lease is;

= 280,000 - 40,000

=$240,000

Interest is 11% so the interest to be received in December is;

= 11% * 240,000

= $‭26,400‬

This will be debited to Interest receivable as it is money owed and credited to Interest revenue as it is money earned.

6 0

3 years ago

On April 30, 2015, Zono Electronics, Inc. made a payment of $3,500 to Imperial Distributors, a supplier. Choose the statement th

pav-90 [236]

Answer:

A) Debit cash, credit accounts receivable

Explanation:

As the statement said, Zoono electronics made a payment which means they are debiting cash amount of $3,500 to imperial distributor who is a supplier. So the best statement that best describes the recording of this financial transaction by imperial distributor is their account receivable has been credited and cash is debited. All the other options are wrong except this.

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3 years ago

Carl transfers land with a fair market value of $120,000 and basis of $30,000, to a new corporation in exchange for 85 percent o

Lera25 [3.4K]

Answer: $15,000

Explanation:

From the question, Carl transfers land with a fair market value of $120,000 and basis of $30,000, to a new corporation in exchange for 85 percent of the corporation's stock and that the land is subject to a $45,000 liability, which the corporation assumes.

The amount of gain that Carl must recognize as a result of this transaction will be the difference between the liability the land is subjected to which is $45,000 and the basis of the land which is $30,000.

= $45,000 - $30,000

= $15,000

6 0

3 years ago