Answer:
$1 or 100% of the tax
Explanation:
When the price elasticity of demand is 0, it means that the good or service will be purchased regardless of its cost. Very few things have such a low price elasticity, and the fact that this is drug for treating cancer is the reason why that happens. Anyone that can purchase a drug that will keep you alive, will do so as long as you have enough money to do so. Another good with a very low price elasticity, but not 0, is gasoline with a 0.02 to 0.04, and gasoline is a basic necessity also.
The curve for a perfectly inelastic good is vertical. So any increase in taxes will be paid by the customers.
When bank charged another company's check against our account this would be included on the bank reconciliation as a addition to the balance per books.
A bank reconciliation statement summarizes banking and business activities and reconciles a company's bank accounts and its financial records. A bank reconciliation statement confirms that the payment has been processed and the cash collection has been credited to your bank account.
Withdraw an outstanding check. This will give you a reconciled bank balance. Then, use the cash balance at the end of the business to add up the interest earned and any outstanding bills. Deduct all bank charges, penalties and NSF checks.
Procedures for verifying the accuracy of both company bank statements and cash accounts. - Must be completed at the end of each month. A common cause of differences between the bank's ending balance and the cash book's ending balance.
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Answer:
$14,343.25
Explanation:
The computation is shown below;
For the first bank
The value of investment is
= $68,000 × 8% × 8 + $68,000
= $111,520
For the second bank
= $68,000 × (1 + 0.08)^8
= $125,863.25
So, the difference in these both amount should be
= $125,863.25 - $111,520
= $14,343.25
Answer:
The correct answer is $720 in Year 1 and $240 in Year 2 Next.
Explanation:
According to the scenario, the given data are as follows:
Loan Amount =$16,000
Rate of interest = 6%
Time period for first year (Apr - Dec) = 9 months
Time period for second year ( Jan - Mar) = 3 months
So, we can calculate the amount of interest by using following formula:
For first year:
Amount of interest (1st year) = $16,000 × 6% × 9 ÷ 12 = $720
Amount of interest (2nd year) = $16,000 × 6% × 3 ÷ 12 = $240
