Answer:
Richard can deduct $1600 as real property tax during the current year.Only the tax amount paid by the mortgage company from the escrow account to taxing authority can be claimed as deduction.
The items that describes what happens at the equilibrium price are:
Producers supply the exact goods that consumers buy.
Consumers have enough goods, at the given price.
Producers used their resources efficiently.
Equilibrium pricing is when the items demanded match the items supplied. When this happens, the demand and good available equal each other, hence, equilibrium. The pricing is exactly where it should be for consumers to want and purchase the good or service.
Answer
Retained earnings at the beginning of Year 2 was: $1,450
Explanation
Revenue = $2,100
Retained Earnings Closing Balance = $1,850
Expenses = $1,150
Dividends = $550
Retained Earnings Closing Balance = Revenue - Expenses - Dividends + Retained Earning Beginning Balance
$1,850 = $2,100 - $1,150 - $550 + Retained Earning Beginning Balance
Retained Earning Beginning Balance = $1,450
Answer:
a. 50%
Explanation:
Model P-4 requires 30 minutes of machine time.
A machine hour consists of 60 minutes
Calculating the machine time of Model P-4 in terms of percent of machine hour:
= (Model P-4 Machine time/Machine Hour)*100
= (30/60)*100
= 0.5 * 100
=50%
So, the percent of Model P-4 machine time in terms of a machine hour is 50%.
Answer:
In a true communist economy, the community makes decisions. In most communist countries, the government makes those decisions on their behalf. This system is called a command economy.
