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koban [17]
3 years ago
14

An accountant increases the price he charges for his services by 2 percent. In​ response, the demand for his services decreases

by 16 percent. Will the​ accountant's revenue from his accounting services​ increase, decrease, or remain​ unchanged?
Business
1 answer:
Rashid [163]3 years ago
4 0

Answer:

Decrease

Explanation:

The reason is that the price and demand are inversely proportional so if the price has been increased then the demand of the product will be decreased. Take the example of Bugatti Chiron, the price of the car is $19 million and total number of people that own is in tens this is because the buyers are less in quantity due to higher prices of the product. Same is the case here, if the accountant is going to charge high then his revenue will drop due to lower people are willing to buy its services.

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Ellen loans Nicole $45,000 to start a hair salon. Unfortunately, the business fails in 2019 and she is unable to pay back Ellen.
Dahasolnce [82]

Answer:

c. $18,000, with $27,000 carried forward to 2020.

Explanation:

Non-business bad debts are accounted as short-term capital losses. Short-term and long-term capital gains may be offset by short-term capital losses. Ellen may offset $15,000 of her $45,000 bad debt from Nicole against the $15,000 capital gain from the sale of stock.

In addition, Ellen may claim up to the annual limitation amount of $3,000 in short-term capital losses. In total, $18,000 of the bad debt can be claimed as a capital loss in the current year with $27,000 in unused short-term capital losses carried forward.

5 0
3 years ago
Big-Mouth Frog Corporation had revenues of $200,000, expenses of $120,000, and dividends of $30,000. When Income Summary is clos
Aleksandr-060686 [28]

Answer:

Credit of $80,000

Explanation:

Big-Mouth Frog Corporation Calculation for Retained earnings

Using this formula

Retained earnings =Revenue- Expenses

Where,

Revenue =$200,000

Expenses =$180,000

Let plug in the formula

Retained earnings =$200,000-$180,000

Retained earnings =$80,000

Therefore when the Income Summary is closed to Retained Earnings, the amount of the credit to Retained Earnings will be $80,000

6 0
2 years ago
In the United States, sole proprietorships and partnerships outnumber corporations.a. Trueb. False
lianna [129]

Answer:

a. True

Explanation:

The sole proprietorship and partnerships outnumber corporations in United States but they net fewer sales and less income than corporations, individually and when combined.

8 0
3 years ago
1. Some bacteria are helpful to the body and:
Anna35 [415]

Answer:

I messaged you the asnwer.

Explanation:

8 0
2 years ago
"Which one of the following items requires an adjustment on the bank side of the bank reconciliation?
ale4655 [162]

Answer:

Deposits in transit

Explanation:

A company's deposit in transit is the currency and customers' checks that have been received and are rightfully reported as cash on the date received, and the amount will not appear on the company's bank statement until a later date. A deposit in transit is also known as an outstanding deposit.

When there is a deposit in transit, the amount should be listed on the company's bank reconciliation as an addition to the balance per bank.

5 0
3 years ago
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