Answer:
$1,500
Explanation:
On the end-of-period spreadsheet, the credit adjustment of $500 is made in the Debit balance of Supplies inventory, which will net off the values and resulted Supplies Inventory value will be $1,500 at the end of the year and it will be reported on the financial statements. $1,500 should be appeared for supplies in the adjusted Trial Balance column.
Answer:
d. the supply curve of new houses would shift rightward, since builders would be willing to produce and sell more houses at each given price.
Place more oil on the market this year, shifting the curve rightward.
Explanation:
1. In the given scenario the government is willing to give home-construction companies $10,000 for every house that they build.
This will result in more willingness on the part of the construction companies to build more houses.
More houses built means more income coming in from the government.
Therefore the supply curve of home building will shift to the right.
2. When oil producers expect prices of oil to increase in the next year, there is a need to control oil prices by increasing availability of oil in the market.
Increase in price results from a scarcity of oil. So to mitigate this excess oil is supplied to control price increase.
This action will shift the curve rightward.
The correct answer is $380 per unit.
The lower-of-cost-or market rule requires that you report the lower value of either the purchase price or current market price of items in inventory. In this case the current market price is lower, so it should be used when calculating the value of inventory.
Answer:
The explicit tax would Curtis incur on interest earned on the Initech, Inc. bond is $7,395
Explanation:
The computation of the explicit tax is shown below:
= (Invested amount × interest rate with similar risk) × marginal tax rate
= ($425,000 × 7.25%) × 24%
= $30,812.50 × 24%
= $7,395
We consider the invested amount, similar risk interest rate, and the marginal tax rate. The paying interest rate would not be considered. Hence, ignore it
