Answer:
a.- 20,500 less tax collected
b.- 1,750 less tax collected
c.- 26,750 less tax collected
Explanation:
<u>under a static forecast:</u>
205,000 x (0.35-0.25) = 205,000 x 0.1 = 20,500
The government will collect 20,500 less dollars from Ms BK's
<u>under a flexible forecast:</u>
205,000 x 35% - 280,000 x 25% = 71,750 - 70,000 = 1,750
It will loss tax revenue for $1,750
205,000 x 35% - 180,000 x 25% = 71,750 - 45,000 = 26,750
Explanation:
The Journal entry is shown below:-
a. Salary Expense Dr, $2,550
To salaries payable $2,550
(Being accrual of salary is recorded)
b. Income summary Dr, $324,750
To Salary expense $324,750
($322,200 + $2,550)
(Being closing of salary expense is recorded)
Answer:
Criteria 2: The magnitude or impact of the problem is clear.
Explanation:
The problem is well defined in the statement given above. Cryptocurrency is one of the latest investment opportunity for the investors. It is a digital asset which is traded online with different investors. It is used to trade online where physical transfer of cash takes much time or is not possible at all. The magnitude and impact of cryptocurrency is well defined.
<span>A good orientation would have explored the changes in these usage trends. By doing this, they could have figured out how to best market to these customers and maximize their profits. Even though there were drops in consumption, understanding and targeting those who still did consume would have borne the most success for those companies that undertook these steps.</span>
Equilibrium is the intersect of the two curves. The curves show you how much the producers supply and how much the consumers demand at each possible price.
The demand curves shows that the higher the price is, the less the consumers demand. That's obvious—the consumer wants something, but not at any price. He's only willing to pay so much. If the price goes higher and higher, less and less people want to buy the good.
The higher the price is, the more the producers can supply. This is because some producers are able to produce at lower costs; they're better and more efficient than other producers. Other producers, who produce at higher costs, would go bankrupt if they tried to produce at lower prices. But when the price goes up, even the worse producers, who have higher costs, are able to make profit. So, more producers supply to the market.
What happens now, when the price gets lower than the equlibrium? As you can see from the chart, producers would supply less than consumers would be willing to consume at that particular price. There would be SHORTAGE. This happens when the goverment sets price ceilings (like on gas in the 30's). An opposite situation happens when there is price floor—for example minimum wage (because wages are prices too; prices of labor). In that case, there is surplus—in case of minimum wage that means surplus of labor (unemployment).
But when the markets are free to set the price, they will quickly establish equlibrium again. The producers will see that there is a shortage. They'll realize they can set higher prices and make bigger profits. They can't set higher price than the equilibrium though, because there would be surplus and they would have their warehouses stuffed with goods noone wants to buy at that price.
This is the Answer Am 100% sure.
