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V125BC [204]
3 years ago
13

In the recent years, prices of basic food commodities such as corn, rice, and wheat have increased sharply. A recent article in

the Wall Street Journal states that Chinese authorities are concerned that escalating prices will cause inflation and be followed by civil unrest. (Source: Wall Street Journal, February 20, 2011) If the Chinese government sets a price ceiling below the equilibrium price, the result will be I. an increase in the quantity demanded. II. a decrease in the quantity supplied. III. a shortage.
Business
1 answer:
TiliK225 [7]3 years ago
6 0

Answer:

I, II and III.

Explanation:

Price ceiling refers to the price control policy that is used by the government to protect the customers who are not able afford goods at the prevailing price.

If government of a nation sets a price ceiling below the equilibrium price level then this will increase the quantity demanded for the product because now goods become more affordable to the consumers and decreases the quantity supplied because it will become less profitable for the producers.

Hence, the demand for goods exceeds the supply of goods, this will create a shortage of goods in an economy.

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In March 2017​, the money price of a carton of milk was ​$1.76 and the money price of a gallon of gasoline was ​$2.39. Calculate
igor_vitrenko [27]

Answer:

A gallon of gasoline cost 1.36 carton of milk

Explanation:

We should divide the given product over the base product

\frac{P_x}{P_b} In this case, gasoline is the product we want to express based on carton of milk:

2.39 gallon of gasoline / 1.76 carton of milk =  1,35795454

A gallon of gasoline cost 1.36 carton of milk

6 0
3 years ago
Which of the following would count as a SMART (specific, measurable, attainable, realistic, and timely) goal for a 21-year-old r
Sergeeva-Olga [200]

<u>Note:</u>

<u>I was unable to find the complete question. The only thing I accessed successfully was the solution of the question.</u>

Answer:

Reduce student loan balances by $12,000 within 5 years by making extra payments of $200 each month.

Explanation:

The reason is that the reduction in the student loan is:

Specific as it addresses about the solution of the plan which in this case is paying extra $200 each month.

Measurable as the student loan reduction is by $12,000, time duration and the extra payment is also measurable.

Attainable as the each month extra payment of $200 is not large amount.

Realistic as the reduction by $12,000 is computed on appropriate grounds ($200 per month * 12 month * 5 years).

Timely as the achievement duration of the goal set is 5 years.

Hence the goal is SMART.

3 0
3 years ago
Zoom call anyone<br> im bored
Mrac [35]

Answer:

me i love zoom because i do it every day

Explanation:

8 0
3 years ago
When Patey Pontoons issued 6% bonds on January 1, 2018, with a face amount of $600,000, the market yield for bonds of similar ri
Sliva [168]

Answer:

<u>1.- issued at : </u>$579,378

<u></u>

<u>2.- the schedule is attached.</u>

<u></u>

<u>3 and 4.- journal entries</u>

cash                                     579,378 debit

discount on bonds payable 20,622 debit

         bonds payabe                        600,000 credit

--to record issuance-------

interest expense 20278.23 debit

        discount on bonds payable     2278.23 credit

        cash                                  18000 credit

--to record June 30th payment---

<u>5.-At December 31th 2018 will report as follow:</u>

bonds payable        600,000

discount on bonds    (15,986)

                           net 584,014

<u>6.- it will report interest expense for:</u>

20,278.23 June

20,357.97 December

total: 40.636,2‬

7.- maturity:

interest expense 20,898.55

discount on bonds payable 2,898.55

cash 618,000

Explanation:

For the value of the bonds at issuance, we will calcualtethe present value of the coupon payment and the maturity at market rate.

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 18,000 ( 600,000 x 0.06/2)

time 8 (4 years x 2 payment per year

rate 0.035(market rate / 2)

18000 \times \frac{1-(1+0.035)^{-8} }{0.035} = PV\\

PV $123,731.1997

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   600,000.00

time   8.00

rate  0.035

\frac{600000}{(1 + 0.035)^{8} } = PV  

PV   455,646.93

PV c $123,731.1997

PV m  $455,646.9337

Total $579,378.1334

for the schedule we will multuply the carrying value by the market rate.

the ncompare with the proceed in cash to know the amortizaiton.

This amortization will increase the carrying value of the loan.

5 0
2 years ago
Larned Corporation recorded the following transactions for the just completed month. $80,000 in raw materials were purchased on
sesenic [268]

Answer and Explanation:

The Journal entry is shown below:-

a. Raw material Dr, $80,000

                To Account payable $80,000

(Being purchase of raw material is recorded)

Here we debited the raw material as it increased the assets and we credited the accounts payable as  it also increased the liabilities

b. Work in process Dr, $62,000

   Manufacturing overhead Dr $9000

           To Raw material $71,000

(Being raw material used is recorded)

Here we debited the work in progress ,  the manufacturing overhead as it increased the assets and expenses and credited the raw material as  it decreased the assets

c. Work in process Dr, $101,000

   Manufacturing overhead Dr, $11,000

                       To Cash $112,000

(Being paid to labor is recorded)

Here we debited the work in progress ,  the manufacturing overhead as it increased the assets and expenses and credited the cash as  it decreased the assets

d. Manufacturing overhead Dr, $175,000

          To Accumulated depreciation-Equipment $175,000

(Being manufacturing overhead is recorded)

Here we debited the manufacturing overhead as it increased the expenses and we credited the accumulated depreciation of depreciation as it reduced the assets

5 0
3 years ago
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