Answer: See explanation
Explanation:
Mandy's deductions and credits allowed and the suspended losses and credits are calculated as follows:
Mandy's deduction (her utilized loss) total = $12000 + $18000 - $10000 = $20000
Her suspended loss = $0
After deducting the loss, Mandy has available a deduction equivalent of = $5000
Hee utilized credit is ($5000 × 22%) = $1100 and her suspended credit is ($2100 - $1100) = $1000.
Answer:
The amount paid to the issuer is $2,971,080.
Explanation:
The total number of shares is 135,000.
Though only 122,400 shares are sold to the public.
The initial selling price is $24.
The spread percentage is given at 8.3%.
The amount paid to the issuer will be
=Total number of shares*Initial selling price (1-spread)
=135,000*24*(1-0.083)
=135,000*24*0.917
=2,971,080
So, the amount paid to the issuer is $2,971,080.
Answer:
Slope of short-run aggregate supply curve: wage-price flexibility
In the short run, some factors are fixed and some factors can vary and the costs incurred on fixed factors are constant. Thus, the price level does not change as fast as it could have been if all are variable resources.
However, if prices are subjected to the variation in the wages, then the price level will increase faster than the costs. If actual price level is below the expected level, then the nominal wage rate is more than the expected and vice-versa. This would result in a greater slope of the short-run aggregate supply curve, which means short-run aggregate supply curve will be relatively steeper.
In the short run, the wage rate and price level are sticky downward because fall in nominal wage of workers will reduce the incentive to work.
Hence, if the wage rate adjusts continuously to any change in price; then the aggregate supply curie is relatively steep, and when wage and price level are sticky, then the short-run aggregate supply curve will be relatively flat.
Answer:
Dr retained earnings($21,600+$15,800) $37,400.00
Cr accumulated depreciation $21,600
Cr inventory $15,800
Explanation:
The errors that require adjustment are the overstatement and understatement of depreciation expense as well as the December 2021 overstatement of inventory.
The understatement of inventory in 2020 would have self-corrected itself in 2021 since closing inventory in 2020 deducted from costs of goods available for sale would be introduced as opening inventory in 2021.
net effect of depreciation=understatement -overstatement=$37,500-$15,900=$21,600.00
hence retained earnings would reduce by $21,600.00
for the overstatement of inventory,retained earnings would reduce by $15,800
