Answer:
C. not change, and the price received by sellers will not change.
Explanation:
Because previously there was a tax of the same ammoutn nothing will change. The sellers will will transfer the tax into the price therefore, the after-tax proceeds will not change netiher the selling price. The same effect of the consumer tax will occur again, some or the entire tax will be pay for the seller or the consumer based on the elasticity of the supply and demand curve.
The effect of chaging the law will not alter the economic reality of translate taxes into consumers
Answer:
Darla's amount realized on the sale is $800
Adjusted basis in the assets sold is $300
Producing a realized gain on the sale of $500
Explanation:
Amount realized = cash received + FMV of other property + buyer’s assumption of seller’s liabilities – seller’s expenses
Amount realized = 600 + 200 + 0 -0
= $800
Adjusted basis = initial basis – cost recovery deductions
Adjusted basis = 2500-2200 = $300
Gain or loss realized = amount realized – adjusted basis = 800-300
= $500
Therefore Darla's amount realized on the sale is $800 and the adjusted basis in the assets sold is $300, producing a realized gain on the sale of $500
A cash payment received from a customer for a product purchased on account would be recorded as DEBIT TO CASH AND CREDIT TO ACCOUNT RECEIVABLE. Cash is debited because cash has been received by the company and it has to be debited to the asset account of cash. The account receivable is credited to record the fact that money has been received.
Aldi!!! Personal preference due to the organization.
