Answer: Price floor
Explanation:
A price floor is the legal minimum price control that is imposed by the government. It is binding when the equilibrium price is below the legal minimum price. At the price floor quantity supplied of a good is greater than its demand.Thus there is a surplus in the market at the price floor.
So, the lowest amount a manufacture can pay its factory workers is an example of a price floor.
Price ceiling is the maximum price that can be paid or charged for a good.
Answer:
Answers are available in the attached images
Explanation:
This question is incomplete. I will type the complete question below and add image attachments of the solution as tabulated journal entries are required.
At the end of 2017, Payne industries had a deferred tax asset account with a balance of $26 million attributable to a temporary book tax difference of $65 million in a liability for estimated expenses. At the end of 2018, the temporary difference is $60 million. Payne has no other temporary differences and no valuation allowance for the deferred tax asset. Taxable income for 2018 is $220 million and the tax rate is 40%. Required:
1. Prepare the journal entry(s) to record Payne’s income taxes for 2018, assuming it is more likely than not that the deferred tax asset will be realized.
2. Prepare the journal entry(s) to record Payne’s income taxes for 2018, assuming it is more likely than not that one-fourth of the deferred tax asset will ultimately be realized.
Answer:
C.
Explanation:
Economic globalization is a historical process, the result of human innovation and technological progress. It refers to the increasing integrations of the economies arround the world, particularly through the movement of goods, services and capital across borders.
Is foundamentally the integration of various political, economic and cultural systems. The conversion and interconnection of people, places and ideas that collectively transforms the economy and increases the productivity and growth of businesses.
Explanation:
The computation of accrued interest for each is shown below:
For Maple
= $23,000 × 10% × 40 days ÷ 360 days
= $255.56
The 40 days are counted from 9 days in November and 31 days in December month
For Wynam
= $19,000 × 9% × 18 days ÷ 360 days
= $855
The 18 days are taken from 18 days in December month
For Nahn
= $21,000 × 12% × 12 days ÷ 360 days
= $840
The 12 days are taken from 18 days in December month