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3 years ago

Price ceilings are often established in order to

1 answer:

monitta3 years ago

3 0

The correct answer is C. keep products affordable for consumers.

Price ceilings are created to help people acquire bare necessities such as water, or wheat and flour, or anything similar. A price ceiling is imposed and you pay that amount maximum, and if prices should rise because of production costs then the country pays for the extra charge out of its budget.

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Which of the following entries would be recorded by a company that uses the cash basis method of accounting? A. Salaries Expens

liubo4ka [24]

Answer:

B is the correct option, because it indicates that rent expense was only recognized in the books of account when paid for in cash.

Explanation:

Cash basis of accounting simply implies that an organization that adopts it recognizes income when received and expense when paid for in cash.

The above is different from accrual basis,where income is recognized when earned(when obligation is discharged by the seller) and expense when incurred(when the goods involved or services have been received)

All other options except B have something to do with payment on account,hence they are wrong.

6 0

3 years ago

XYZ Company makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost P

Liono4ka [1.6K]

Answer:

labour rate variance = $616 unfavorable

Explanation:

The rate variance would be the difference between the standard labour cost of the 500 actual hours worked and the actual labour cost.

This derived below:

Standard labor cost ($23 per × 500) = 11500

Actual labour cost (12,116)

labour rate variance $616 unfavorable

4 0

2 years ago

On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of

faltersainse [42]

Answer:

2021

revenue 2,666,667

we have cost for 2,000,000

income for 666,667

2022

revenue 3.278.400‬

cost 2,500,000

income 778.400‬

2023

revenue 2,054,933‬

cost 3,800,000

loss 1,745,067‬

Explanation:

2,000,000/ (2,000,000 + 4,000,000) = 1/3

in 2021 a third of the contract was complete therefore we recognize a third of revenue:

8,000,000 x 1/3 = 2,666,667

we have cost for 2,000,000

income for 666,667

2,500,000 / (2,500,000 + 3,600,000) = 0,4098

we recognize revenues for 40.98 of the total contract value.

8,000,000 x 40.98 = 3.278.400‬

cost 2,500,000

income 778.400‬

2023

we recognize the remaining revenue.

8,000,000 - 2,666,667 - 3,278,400 = 2.054.933‬ revenue

cost 3,800,000

loss 1,745,067‬

7 0

2 years ago

All other things being equal, the numerical difference between a present and a future value corresponds to the amount of interes

Valentin [98]

Answer:

im sorry but GOD BLEESED YOU

3 0

2 years ago

What is an argument in favor of a $15 minimum wage

tamaranim1 [39]

The idea for a $15/hour minimum wage is to provide a living wage for employees, meaning that they can meet their basic housing, food, medical, and living expenses when working full time at minimum wage.

7 0

3 years ago