Answer:
D) Quantity sold rose while the effect on price is ambiguous.
Explanation:
Two separate things happened here;
- Change in consumer habits have shifted the the demand curve to the right, increasing the quantity demanded at every price level.
- Better technology and lower costs have also shifted the supply curve to the right, increasing the quantity supplied at every price level.
One thing is certain, the quantity demanded and supplied increased, so the total quantity sold definitely increased. The price issue is not certain because you would need additional information about which shift was larger, the shift of the supply curve or the demand curve.
Answer:
The answer is the market supply curve will shift to the right, and the market price will decrease.
Explanation:
It is likely to the market supply curve will shift to the right, and the market price will decrease.
Answer:All
Explanation:All would have to be the same as they are calculated by the bank with every transaction except your own register which should match if you are keeping it up to date.
The answer to your question is False
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Answer: $324,800
Explanation:
It is a general Principle that when calculating income tax expense, that the Extraordinary loss is treated separately because it is not a usual thing.
The income gained from changing the Accounting principle is not included as well.
The Taxable income to be recorded therefore is,
Taxable income = Income + Gain on disposal - Unusual loss (due to its infrequency)
Taxable income = 928,000 + 32,000 - 148,000
Taxable income = $812,000
Tax expense would therefore be,
= 812,000 * 40%
= $324,800
$324,800 is the amount of income tax expense Arreaga would report on its income statement.
