Answer: It will reduce in demand
Explanation: If you raise a price customers are less likely to buy it when it’s at a higher price
Answer:
$284,000
Explanation:
Calculation to determine what The financing section of the statement of cash flows will report net cash inflows of
Using this formula
Net cash inflows=Common stock-Dividends-Treasury stock
Let plug in the formula
Net cash inflows= $389000-$88000 -$17000
Net cash inflows=$284,000
Therefore The financing section of the statement of cash flows will report net cash inflows of $284,000
For a promise or order to be considered negotiable, it must
of a necessity be an unconditional order for payment. Unlike deals where satisfaction
with the goods being purchased is prerequisite for payment, for a negotiable
promise or order, payment cannot depend upon any condition or contract.
Answer:
The Rex’s gross income from the partnership in 2019 and 2020 is $1,20,000 and $1,80,000 respectively
Explanation:
The computation of the gross income for each year is shown below:
In 2019:
Gross income = Taxable income × percentage of interest in profits
= $400,000 × 30%
= $1,20,000
In 2020:
Gross income = Taxable income × percentage of interest in profits
= $600,000 × 30%
= $1,80,000
The withdrawn amount is not consider for computing the gross income. So, we ignored it
Answer:
Debit Credit
July 2021
Cash 17,500
Loan payable 17,500
June 30, 2022
Loan Payable 17,500
Interest payable 2,100
Cash 19,600
Adjusting Entry's
Debit Credit
Interest expense 1050
Interest Payable 1050
Explanation:
Interest for the year = 0.12*17500=2100
Interest expense 2021= 6/12*2100= 1050