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Mars2501 [29]
3 years ago
5

Max murphey, a cash basis taxpayer, borrowed $10,000 from a bank for a business loan on august 1, to be repaid one year later. t

he interest for one year at 6 percent was deducted from the loan proceeds in advance. his interest deduction for the current year is:
Business
1 answer:
Lena [83]3 years ago
6 0
The maturity value of the loan is given by:

S= \frac{P}{1-dt}  \\  \\ = \frac{10000}{1-0.06\times1}  \\  \\ = \frac{10000}{0.94} =\$10,638.30

Therefore, the amount discounted for the first 5 months is given by:

D=Sdt=10638.30\times0.06\times \frac{5}{12} =\$265.96
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In long-run equilibrium with trade, losses from import competition will force some firms to ______________, increasing demand fo
MrMuchimi

Answer:

The correct answer is option b.

Explanation:

In an open economy, domestic firms have to face competition from the foreign producers. If firms face losses in the long run, because of import competition, these firms will leave the industry.

As the number of domestic firms get reduced, the demand curve of the other firms will become flatter. This happens because of the foreign firms that bring in a large variety of goods in the domestic market.

7 0
3 years ago
James owns two houses. He rents one house to the Johnson family for $10,000 per year. He lives in the other house. If he were to
AVprozaik [17]

Answer:

$22,000

Explanation:

Given that

1st house rented = 10,000

2nd house estimated rent = 12,000

Therefore,

The two houses would contribute

= 10,000 + 12000

= $22,000

Note: Rent is considered as consumption and as a result, rent is added into the GDP. Also, in GDP estimation, imputed rent which is the amount a house owner is willing to rent a house away for if he decides to is calculated as part of the GDP.

3 0
3 years ago
Of the four consumer protection groups listed below, identify which groups are government agencies and which are non-governmenta
Katen [24]

Answer:

c. II and IV are governmental; I and III are not.

Explanation:

A government agency is usually a permanent organization established by either a state or national government in a federal system. They are established by legislative or executive powers for oversight and administration of specific functions. Examples of government agencies are Food and Drugs Administration (FDA), Consumer Product Safety Commission, Intelligence, Finance and Communications agency.

Non-governmental agency usually referred to as NGOs is a non-profit.

Of the four consumer protection groups listed above, Consumer Product Safety Commission and Food and Drug Administration are governmental; Better Business Bureau and Consumers Union are not.

8 0
3 years ago
The journal entry for the purchase of inventory on account using the perpetual inventory system is
alexandr1967 [171]

Answer:

D. Merchandise Inventory xxx

Accounts Receivable xxx

Explanation:

The Journal Entry is shown below:-

Merchandise Inventory A/c Dr,         xxx

              To Accounts Payable     xxx

(Being purchase of inventory on account is recorded)

Therefore inventory is purchased so it will increasing assets, it is debited while accounts payable is increasing liabilities so it is credited.

5 0
3 years ago
An blank is a person who risks time and money to start and manage their own business
Harrizon [31]

Answer:

Entrepeneur

Explanation:

The entrepeneur is the person that is willing to take the financial risk linked to open up a business with the desire of obtain a profit.

5 0
3 years ago
Read 2 more answers
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