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The special tax was called J<span>izya.</span>
Answer:
A). The price of gasoline increased in coastal cities since gasoline was harder to find.
Explanation:
As per the principles of demand and supply, a decrease in supply while demand remains constant will cause the price to increase. In Georgia, the supply of gasoline was interrupted by the storm's effect. There was little gasoline coming in, leading to a shortage. After Electricity went off, gasoline demand must have gone high as people needed fuel for generators.
Gasoline has no close substitutes, especially when used as fuel for cars and generators. A shortage results in the scramble for the little available products. Sellers hike prices to maximize profits, and buyers are willing to pay more to get the scarce gasoline, thereby increasing its prices.
Explanation:
The journal entries are shown below:
On February 1
Account receivable - Sarah’s Cycles A/c Dr $550
To Sales $550
(Being the goods are sold on credit)
Cost of goods sold A/c Dr $375
To Merchandise Inventory A/c $375
(Being goods are sold at cost)
On February 9
Sales return and allowance A/c Dr $137.50 ($550 ÷ 4)
To Accounts receivable - Sarah’s Cycles $137.50
(Being sales return is recorded)
Merchandise Inventory A/c $85
To Cost of goods sold A/c Dr $85
(Being sales return is recorded)
On March 2
Cash A/c Dr $412.50 ($550 - $137.50)
To Accounts receivable - Sarah’s Cycles $412.50
(Being cash is received)
The net profit margin is
= (Net sales - Cost of goods sold) ÷ Net sales
= ($412.50 - $290) ÷ ($412.50)
= 29.69%
The cost of goods sold
= $375 - $85
= $290
Answer: c. $20,000
Explanation:
The Loss on Realization is monies accrued after assets have been sold off at less than their original value and in Calculating it, the following formula is used,
Loss on realization = Total Capital Balances after payment of liabilities minus - balance
Slotting in the figures therefore we have,
Loss on realization = $40,000 + $70,000 - $80,000
= $30,000 was the total loss on Realization
Seeing as Antonio and Barbara are partners who share income in the ratio of 1:2 we allocate to Barbara as follows,
Barbara = $30,000 * 2/(1+2)
= $20,000
Therefore option C is correct.