The value of the American dollar would go down drastically. By doing that it would increase the prices of basically anything and everything. It will place our country in an immense debt and could potentially have our country fail.
Answer: Positive.
Explanation:
Suppose there are two related goods, i.e, Good A and Good B.
Cross price elasticity of demand refers to the responsiveness of demand for Good A if there is a change in the price of its related good, i.e, Good B.
Now, we are talking about gasoline and public transportation, suppose if there is increase in the price of gasoline then it will be costlier for the people to drive their own cars, as a result demand for public transportation increases.
There is a positive relationship between the gasoline and public transportation.
Hence, cross-price elasticity of demand between gasoline and public transportation is Positive.
Based on the information given the appropriate journal entry to record the redemption of the bonds is:
Casey Company Journal entry
June 30, 2021
Debit Bonds payable $500,000
Debit Premium on bonds payable $8,000
($508,000-$500.000)
Credit Gain on bond redemption $28,000
($508,000 - $480,000)
Credit Cash $480,000
($500,000 x 96%)
(To record redemption of the bonds)
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Answer:
Part 1
Cost of ending inventory calculation :
a. FIFO
b. LIFO
c. weighted average cost
Part 2
Cost of goods sold calculation :
a. FIFO
b. LIFo
c. weighted average cost
Explanation:
Cost of ending inventory calculation :
FIFO
LIFO
weighted average cost
Cost of goods sold calculation :
FIFO
LIFO
weighted average cost
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