Answer: this means that there is fall in price of a goods on the demand market. This is because of price ceiling.
Explanation:
Answer:
Savings, taxes, and imports are "leaked" out of the main flow
Explanation:
Answer:
Common Stock $3,400 (credit)
Mower $1,600 (debit)
Revenue Service $1,000 (credit)
Cash $2,600 (debit)
Gas Expense $100 (debit)
Dividends $0
Explanation:
See below the posting i have done to the ledger accounts.
Mower T - Account
Debit :
Accounts Payable $1,600
Credit :
Balance c/d $1,600
Revenue Service T - Account
Debit :
Balance c/d $1,000
Credit :
Account Receivable $1,000
Cash T - Account
Debit :
Common Stock $3,400
Credit :
Gas Expense $100
Dividends $700
Balance c/d $2,600
Gas Expense T - Account
Debit :
Cash $100
Credit :
Balance c/d $100
Dividends - T Account
Debit :
Shareholders for dividends $700
Credit :
Cash $700
Answer:
Instructios are listed below
Explanation:
Giving the following information:
Assume Pinkie started the year with 100 containers of ink (average cost of $ 9.10 each, FIFO cost of $ 8.60 each, LIFO cost of $ 8.00 each).
During the year, the company purchased 800 containers of ink at $10.00 and sold 600 units for $21.75 each. Pinkie paid operating expenses throughout the year, a total of $ 5,000.
FIFO:
Sales= 600*21.75= 13,050
COGS= (100*8.60 + 500*10)= 5860
Gross profit= 7190
Operating expense= 5000
Net operating profit= $2,190
LIFO:
Sales= 13,050
COGS= (600*10)= 6000
Gross profit= 7,050
Operating expense= 5000
Net operating profit= $2,050
Average-cost
Sales= 13,050
COGS= [(9.10+10)/2]*600= 5730
Gross profit= 7,320
Operating expense= 5000
Net operating profit= $2,320
Answer:
Tariff of 1832
Explanation:
The Tariff of 1832 was enacted to replace the 1828 import tariffs commonly known as Tariffs of Abomination. Most southern states did not like it, but its greatest opposition came from South Carolina since its economy depended greatly in foreign trade. Back then America's largest export was cotton produced by southern states.
Due to South Carolina's extreme opposition, it was replaced by the Compromise Tariff of 1833. This last tariff would gradually decrease the tax rates until they fell back to 1816 levels, which was approximately 20%.
The Nullification Crisis refers to a legal process carried out in South Carolina that determined that federal taxes, specifically import tariffs were unconstitutional and shouldn't apply to them. The problem is that the Supreme Court decides what is unconstitutional or not, not a state court.
