Answer:
Explanation:
Income Statement
Calculations:
Service revenue = Service revenue+ Services performed but unrecorded = 7000+700 = 7700
Salaries and wages expense = Salaries and wages expense + Accrued but unpaid salaries and wages = 2200 + 500 = 2700
Supplies expenses = Supplies expenses - supplies that are still on hand = 1400 -350 = 1050
Income statement
Service revenue 7700
Expenses:
Salaries and wages expenses 2700
Supplies expenses 1050
Utilities expense 400
Insurance expense 400
Depreciation expenses 350
Total expenses 4900
Net Income (7700-4900) 2800
Answer:
The correct answer for regular method is $2,514 and for simplified method is $1,450.
Explanation:
According to the scenario, the computation of the given data are as follows:
Regular Method:
Total home deduction = ( Real property taxes × 24%) + ( Interest on mortgage × 24%) + (Operating expenses × 24%) + ( Depreciation )
So, by putting the value, we get
Total home deduction = ( $2,400 × 24%) + ( $4,000 × 24%) + ($2,200 × 24%) + ( $450 )
= $576 + $960 + $528 + $450
= $2,514
Simplified Method:
According to simplified method, the maximum deduction per square ft. can be $5.
So, Home deduction = $5 × 290 Sq. ft.
= $1,450.
Answer: No; No.
Explanation:
A debt security is referred to as a debt that can be either purchased or sold in the market between the parties involved before such debt matures.
In this scenario, we should note that the debt security was not classified as available-for-sale and also the 2021 market price decline did not exceed more than the 2022 market price recovery.
Therefore, the answer is No; No
Answer:
Increase
Explanation:
Consumer surplus means the difference between the highest price a consumer is willing to pay and the actual market price of a product
Producer surplus means the difference between the market price and the lowest price a producer is willing to take for his product.
The addition of the two gives total surplus which is also known as economic surplus.
In economics, market price and quantity of a good are obtained when supply and demand curves intersect. The space before the intersection of the two curves is where the consumer is ready to pay higher than the price which suppliers is ready to a given quantity the good. There is therefore surplus for both of them at the market price.
If the demand curve shifts to the right while the supply curve remains constant, the market price will rise and this will lead to increase both consumer and producer surplus increase. By implication, total surplus will rise since it is the addition of both consumer and producer surplus.
Therefore, total surplus will increase if a bad winter in the mainland United States increases demand for tropical vacations, which shifts the demand curve to the right while the supply curve stays constant.
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