Answer:
The answer is: Yes, the student is right.
Explanation:
Some industries, especially agriculture, work on some unique ways due to their complexity. For instance, the government sets the price floor and the price ceiling for the main crops produced in the country. In order to do this, the government owns and manages huge warehouses and silos.
When the production of crops is higher than usual, the price of that crop will tend to drop because of excessive supply. The government then buys the crop to put a price floor and takes the overstock to its warehouses. That enables the government to control the market so that farmers get a "fair price" for their crops. If the government didn´t do anything, farmers would lose a lot of money and their customers (agricultural corporations) would probably overstock. That at the same time would cause further problems in the future due to lower future sales because the agricultural corporations companies are overstocked.
When farmers have a bad year due to drought or flooding, their production levels will fall, so the price of the crops would rise due to excessive demand. Then the government sells the crops it had stored previously in its warehouses to put a price ceiling. If the government didn´t do this then a lot of poor people would not be able to buy enough quantities of food.
Answer:
(1) establish the fund on January 1,
- Dr Petty cash fund 200
- Cr Cash 200
(2) reimburse it on January 8
- Dr Postage expenses 39
- Dr Transportation expenses 12
- Dr Delivery expenses 14
- Dr Miscellaneous expenses 28
- Cr Cash 93
(3) both reimburse the fund and increase it to $350 on January 8, assuming no entry in part 2.
- Dr Petty cash fund 150
- Dr Postage expenses 39
- Dr Transportation expenses 12
- Dr Delivery expenses 14
- Dr Miscellaneous expenses 28
- Cr Cash 243
The only difference between part 2 and 3 is that the Petty cash fund is increased by $150, and cash decreases by $243 instead of $93.
Answer:
Non-controlling interest in net income decreased would have by $6,000
Explanation:
The computation of net income is shown below:-
Profit on Intra-Entity Sales = Revenue - Cost of goods sold
= $200,000 - $140,000
= $60,000
Profit on Intra-Entity Sales × 25% still in Ending Inventory
= $60,000 × 25%
= $15,000
Adjustment to Net Income × 40% for Non-controlling Interest
= $200,000 × 25% × 30% × 40%
= $6,000
Net profits will go decline by $6,000
Answer:Hi Martina, okie anyway Im taking the test rn too I just answered Tanya, its $25
Explanation:
1 book= 50
2 books= 100
100-50=50
Then 50/2=25
Answer:
Gross pay
Explanation:
Gross pay is before all taxes and deductions. Therefore that value is greater than net pay which is after all taxes and deductions
