Answer:
Dollar voting is an analogy that has been used to refer to the impact of consumer choice on producers' actions through the flow of consumer payments to producers for their goods and services.
Answer:
a. $33,000.
b. $36,000.
Explanation:
Net income is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses. It is also called net earnings.
Now, Cash accounting recognizes revenue and expenses only when money changes hands, but accrual accounting recognizes revenue when it's earned, and expenses when they're billed (but not paid).
a. 2014 Cash-basis net income:
Primo Industries collected $105,000 from customers in 2019
Primo Industries also paid $72,000 for expenses in 2019
=105,000-72,000
=$33,000
b. 2014 accrual-basis net income.
=(105,000-25000+40000)-(72000-30000+42000)
=120000-84000
=$36,000
Answer:
Puffin’s E & P after taking into account the distribution of the car is $6,000.
Explanation:
E & P will be decreased by the higher of the adjusted basis or the fair market value of the distributed property, net of any liabilities. The distribution losses will not be taken into consideration when determining E & P. Thus the current E & P of Puffin’s $30,000 is reduced by $24,000 ($30,000 basis of the car minus the liability amount). The remaining after the distribution current E & P will be $6,000.
Therefore, Puffin’s E & P after taking into account the distribution of the car is $6,000.
Answer:
government's policy.
Explanation:
Govenment policies on tax decide what to tax and where to allocate the resources of the tax.
