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3 years ago

Which of the following is the BEST description of the law of demand?

1 answer:

34kurt3 years ago

8 0

D

This is shown because when a item in demand is needed it becomes price and thus becomes lower of supply and gains value

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Kentucky Lumber and MillWork Company contracted to supply Rommell Company millwork for use in the construction of a school build

omeli [17]

Answer:

Kentucky can gain advantage since it has not breached any terms of the contract.

Explanation:

Kentucky Lumber will be beneficiary of the decision since it is Rommel company who is ending up the contract but Kentucky Lumber is willing to continue the service according to the terms of the contract. Kentucky mill work was destroyed but it bought the equipment from a third party to continue providing the service according to the contract terms.

5 0

2 years ago

Read 2 more answers

Record the following transactions for Summer Consulting. Explanations are not required.

Anvisha [2.4K]

Answer:

Apr. 15

Dr Accounts Receivable—Jones $1,500

Cr Service Revenue $1,500

Apr. 18

Dr Accounts Receivable—Cruise $865

Cr Service Revenue $865

Apr. 25

Dr Cash $750

Cr Accounts Receivable—Jones $750

Apr. 28

Dr Accounts Receivable—Taylor $625

Cr Service Revenue $625

Apr. 28

Dr Cash $865

Cr Accounts Receivable—Cruise $865

Apr. 30

Dr Cash $1,375

Cr Accounts Receivable—Jones $750

Cr Accounts Receivable—Taylor $625

Explanation:

Preparation of journal entries

Apr. 15

Dr Accounts Receivable—Jones $1,500

Cr Service Revenue $1,500

Apr. 18

Dr Accounts Receivable—Cruise $865

Cr Service Revenue $865

Apr. 25

Dr Cash $750

Cr Accounts Receivable—Jones $750

Apr. 28

Dr Accounts Receivable—Taylor $625

Cr Service Revenue $625

Apr. 28

Dr Cash $865

Cr Accounts Receivable—Cruise $865

Apr. 30

Dr Cash $1,375

Cr Accounts Receivable—Jones $750

Cr Accounts Receivable—Taylor $625

8 0

2 years ago

Brody and tanya recently sold some land they owned for $200,000. they received the land five years ago as a wedding gift from br

Andrej [43]

When calculating the long term capital gain on the sale of the property, it is important to make sure adjustments are made from the original date of purchase and when the land was gifted.

To solve:
Adjusted amount = Original purchase amount + (gift tax X difference in what the land was worth/original land worth amount)
Adjusted amount = $20,000 + ($40,000 X $80,000/$100,000)
Adjusted amount = $52,000

Land owned for $200,000
Adjust amount is $52,000

$200,000 - $52,000 = $148,000

The long-term capital gain on the property is $148,000.

5 0

3 years ago

A good economic theory is best described as one that:: A. Is true. B. Realistically depicts the real world economists are trying

ollegr [7]

Answer:

Explanation:

thats my answer my module

8 0

2 years ago

The theory of ______ states that the prices of tradable goods, when expressed in a common currency, will tend to equalize across

IgorLugansk [536]

The answer is; Purchasing Power Parity.

<em>Hope this helped! :)</em>

3 0

3 years ago