Answer:
Adjustment balance will be $13800
Explanation:
We have given estimated uncollectible accounts are $11,000
And doubtful account is $2800
We have to find the balance after adjustment
Balance after adjustment will be sum of uncollectible accounts and doubtful account
So the adjustment balance will be equal to $11000 + $2800 = $13800
So the adjustment balance will be $13800
Answer: Price Ceilings
Price Ceilings are usually controlled by the Government and their main use is to keep prices up. Sometimes a customer will switch to other goods and that person that wants there item bought the price will get lower to attract more customers. In this case, they want to keep the prices from falling - therefore, it would be Price Ceilings.
The answers are the following:
a.
Brandon:
$7,000 + [($10,000/4)×3¿= $8,500
Ryan:
$7,000 + [($10,000/4)×1¿= $7,500
b.
Brandon $7,000
Ryan <span>$7,000</span>
Answer:
First we need to first find the equilibrium quantity and price during normal times.
The equilibrium price in normal times is P=$3 and the equilibrium quantity is 55 bottles.
During the hurricane, the government will set a price ceiling of $3. We can infer from the table that the quantity supplied at P=$3 is 55 bottles while the quantity demanded during hurricane at the price of $3 per bottle is 105 bottles. Hence,
105-55= 50
During a hurricane, there would be a shortage of 50 bottles of water.
If there were no price ceiling, then the equilibrium price would be such that the quantity demanded during hurricane equals the quantity supplied. From the table we can see that the equilibrium price would in that case be P=$5 per bottle where the equilibrium quantity is 85 bottles. With the price ceiling only 55 bottles are available for trading. Now without the price ceiling 85 bottles are available.
Hence consumers would have to pay an additional $2 (=5-3) but they can now buy an additional 30 bottles [=85-55].
Without the antiprice gouging law, consumers would have to pay $2 more than the ceiling price, but they would bv able to buy 30 more bottles of water.
The word secure is a protected sounding word so it’s the process of securing something from a business to protecting something from terrorist BASICALLY protecting♂️
