Answer:
Sweetpea have a gain of $1,000
Explanation:
When the depreciable property is sold, then the gain or loss will be computed to the extent on the difference among the selling price and the adjusted basis.
So, the adjusted basis will be
= Cost of the basis - Depreciation
= $5,000 - $2,000
= $3.000
Therefore,
Gain or Loss = Selling Price - Adjusted basis
= $4,000 - $3,000
= $1,000
Hence, it is a gain of $1,000.
Answer:
A. Competitive markets face perfectly elastic demand and marginal revenue, while monopolies face downward-sloping demand and marginal revenue.
Explanation:
In the case when competitive firms and monopolies generated at the level in which the marginal cost is equivalent to marginal revenue keeping the other things constant so the price should be less in the competitive market as compared to the monopoly because in the competitive markets it face perfectly elastic demand but in the monopoly it face the down ward sloping demand curve
Therefore the option a is correct
Answer:
Some of the troubles that could occur in the economy if inflation rate get as high as 8% or 10% per year are:
1) Foreign investors will avoid the country.
2) Money losses value very fast causing an increase in the prices of goods and services.
3) The economy becomes unstable making the the government leaders to loose credibility.
Explanation:
The type of inflation that gets as high as 8% or 10% is called Galloping inflation.
Some of the troubles that could occur in the economy if inflation rate get as high as 8% or 10% per year are:
1) Foreign investors will avoid the country.
2) Money losses value very fast causing an increase in the prices of goods and services.
3) The economy becomes unstable making the the government leaders to loose credibility.
Amount to be credited = $2,020
Outstanding balance = $480
Explanation:
The payment terms state that
- 3% discount may be taken within 10 days of the invoice date (up to May 20); or
- 1% discount may be taken within 15 days of the invoice date (after May 20 but not later than May 25); or
- The net amount is due within 60 days of the invoice date if advantage is not taken of the cash discounts offered.
- The 3% cash discount is not applicable as the payment was made on May 22 which is after the end of the discount period. However, the 1% discount is allowed, since payment on May 22 is within the 15-day period for the 1% discount.
Amount to be credited
= 2000 / (1−0.01)
= 2000 / (0.99)
= $2,020
Outstanding balance
= 2500 - 2020
= $480
