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Economists can predict what consumers in general will do because all humans seek D. BENEFIT MAXIMIZATION.
Consumers want to get the value for their money. They buy goods that are worth the amount they are willing to spend.
For example, in comparing two products, product A is cheaper but has a shorter life-span. Product B is pricier but lasts longer than Product A.
Given the choices, I'd prefer to buy Product B because I will benefit form it for a longer time than Product A.
Answer:
*** Cash $37,500
Explanation:
Optimum weight loss classified balance sheet .
Assets
Current assets
Cash $37,500
Account receivables $116,750
Prepaid insurance $7,200
Prepaid rent $21,000
Supplies $4,800
Total current assets $187,250
Non current assets
Equipment $474,150
Less
Accumulated depreciation $186,400
NBV $287,750
Land $300,000
Total non current assets
$587,750
Total assets
$775,000
Liabilities
Accounts payable $37,700
Salaries payable $9,000
Unearned fees $18,000
Total liabilities
$64,700
Equity
Common $75,000
Retained earnings $635,300
Total equity
$710,000
Total liabilities + equity
$710,300 + $64,700 = $775,000
Answer:
option A. The loans provide Wren Corporation with a business bad debt deduction.
Explanation:
Bad Debt is an accounting term. it is used to denote a sad case where a borrower whose inability to pay back loan or funds borrowed from a creditor as a result of bankruptcy, mismanagement e.t.c. Bad Debt simply is cancellation (write-off) of an amount that is receivable in business.
Income taxation laws provides the avenue to granting a creditor to deduct any debt not repaid as a bad debt deduction, which will invariably reduce the taxable income.