The way a right is enforced by a court of law when injury, harm, or a wrongful act is imposed upon another individual. The laws of remedies will be based on the extent of relief the plaintiff is entitled to receive after appropriate court procedures were followed and the plaintiff proved with sufficient evidence they were wronged by the defendant. Hope this helps!
Answer:
Asset = Equity + Liability
Account Receivable(+850) = Service Revenue (+850) + No impact
Explanation:
Service performed on Account create a receivable and increase the service revenue. As we know a receivable is an asset, addition to the receivable will increase the total asset value. On the other hand the service revenue ultimately becomes the part of equity in the form of net income or retained earning. So, increase in service revenue will increase the equity value.
Answer:
Consumer's surplus is $5 and the producer's surplus is $4.
Explanation:
1) Consumer surplus is the extra amount a consumer is willing to pay for a product above the price they actually do pay.
Consumer surplus = maximum price willing to pay – actual price
Maximum price willing to pay = $25
Actual price = $20
Consumer surplus = $25 – $20
Consumer surplus = $5
Therefore, the customer saved $5 as a consumer surplus which he/she can spend on some other goods or services.
2) Producer surplus is the difference between what price producers are willing and able to sell a good for and what price they actually receive from consumers (market price).
Producer surplus = Actual price – minimum price willing to accept
Actual price = $20
Minimum price willing to accept = $16
Producer surplus = $20 – $16
Producer surplus = $4.
Answer:
Dr land $278,000
Dr building $347,500
Dr equipment $556,000
Dr inventories $208,500
Cr cash $1,390,000
Explanation:
The total amount spent in acquiring the assets is $1,390,000 which needs to be shared between the assets acquired on the basis of individual values of the assets
Total of individual assets' values=$304000+$380000+ $608000+$228000=$ 1,520,000.00
Cost attributable to land:$304000/$1520000*$1,390,000=$ 278,000.00
Cost attributable to Building:$380000/$1520000*$1390000=$ 347,500.00
cost attributable to equipment=$608000/$1520000*$1390000=$556,000.00
cost attributable to inventories=$228000/$1520000*$1390000
=$208,500.00