Answer:
<u>Cowboy Law Firm</u>
<u>Income statement for the period ended December</u>
Amount in $
Service revenue 8,500
Utilities (1,000)
Salaries expense <u> (1,300)</u>
Net income/(loss) <u> 6,200</u>
Explanation:
An income statement is a part of the financial statements that shows how profitable the activities of an entity was for a given period of time. It is usually stated as the income statement for a period end.
The elements of the income statement include the revenue otherwise called sales, expenses including cost of goods sold, operating expenses etc and the profit or loss as well as the other comprehensive income/loss.
An example of a natural monopoly found across the globe is power delivery.
Is electricity a natural monopoly?
- Electricity service grocery delivery retail store security driveway concrete repair Natural Monopolies.
- A natural monopoly exists when average costs continuously fall as the firm gets larger.
- An electric company is a classic example of a natural monopoly.
What are some examples of monopolies?
Natural gas, electricity companies, and other utility companies are examples of natural monopolies.
They exist as monopolies because the cost to enter the industry is high and new entrants are unable to provide the same services at lower prices and in quantities comparable to the existing firm.
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Answer:
See explanation section
Explanation:
Municipal security from which an investor will receive a return on investment from an initial principal is called a capital appreciation bond. However, in this security, the return on investment will be reinvested further until the security matures at a specific rate. The primary purpose of the CABs is to permit the local authority to generate revenue. Due to the financing in the innovative project without increasing the tax is one of the controversial ways for local governments to finance projects. Another controversial way is to owe investors more than what they acquired.
Answer:
The correct answer is option D.
Explanation:
Suppose technological advancement has helped in decreasing the cost of producing organic produce. This means that the farmers can now produce more at the same cost. As a result, the supply of organic produce will increase. This will cause a rightward shift in the supply curve.
At the same time, the demand for organic produce has increased. This will lead to a rightward shift in the demand curve.
The rightward shift in both demand and supply curve will lead to an increase in the equilibrium quantity. The change in the price level depends on the extent of the change in demand and supply.
Answer:
d. $74,749.60 ( depreciation allowance @ 8.92% )
Explanation:
Under Modified Accelerated Cost Recovery System the Office furniture and fixtures, agricultural machinery and equipment, any other property not associated with another class is classified as 7-years property.
These assets are depreciated as follows:
Year Percentage Depreciate
1 14.29%
2 24.49%
3 17.49%
4 12.49%
5 8.93%
6 8.92%
7 8.93%
8 4.46%
In the Sixth year depreciation will be charged by 8.92%.
Asset Value = $838,000
Depreciation Allowance in 6th year = $838,000 x 8.92%
Depreciation Allowance in 6th year = $74749.60
*Option for the given Mcqs are missing and written as follows:
Select one:
a. $80,411.60
b. $74,833.40
c. $89,108.00
d. $74,749.60
e. $89,327.08
