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Liono4ka [1.6K]
3 years ago
14

Karen Meyer owns and operates Crystal Cleaning Company. Recently, Meyer withdrew $10,000 from Crystal Cleaning, and she contribu

ted $6,000, in her name, to the American Red Cross. The contribution of the $6,000 should be recorded on the accounting records of which of the following entities?
a. Karen Meyer's personal records
b. crystal cleaning
c. American red cross
Business
1 answer:
elena-14-01-66 [18.8K]3 years ago
6 0

Answer:

a. Karen Meyer's personal records

c. American red cross

Explanation:

The $6,000 contribution should be recorded in Karen Meyer's personal records because 1) the donation was made on her personal name 2) a donation of such size is relevant when Karen files her taxes.

The contribution should also be recorded in the American red cross records because the organization needs to clarify to the tax authorities where each sum of money it obtains comes from.

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<span>The answer is that the government will be forced to spend $15,000,000.
government imposes a price floor on wheat at $5 
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</span><span>the government will be forced to spend = $5 x $3,000,000 = $15,000,000</span>
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