Answer: Price ceilings are beneficial to society, and are often necessary, in that they make sure that essential goods are financially accessible to the average person, at least in the short run. By lowering costs, price ceilings also have the beneficial effect of helping to stimulate demand, which can contribute to the health of an economy.
However, there can also be downsides to price ceilings. While they stimulate demand, price ceilings can also cause shortages. Where the ceiling is set, there is more demand than at the equilibrium price. This means that the amount of the good or service supplied is less than the quantity demanded.
For example: in agriculture, medicine, and education, many governments set maximum prices to make the needed goods or services more affordable. Producers may respond to such an economic situation by rationing supplies, decreasing production levels or lowering the quality of production, making the consumer pay extra for otherwise free elements of the good (features, options, etc.), and more.
Request: Can I please get brainliest
Book value on the date of disposal
Cost of the equipment - accumulated depreciation
45000-20000=25000
Gain on disposal of the equipment
Proceeds from sales - book value on the date of disposal
30000-25000=5000
The amount of gain on disposal (5000) is reported under “Other revenues and
gains” section of the income statement which increase the profit which transferred into shareholders equity. Also, the account of the equipment will be zero
So the answer is d
Hope it helps!
It would be "Meat to cook for dinner at home" that a consumer expect to find in a retail store since retail stores market to individuals and families, not large-scale projects.
Answer:
the bad debt expense is $900
Explanation:
The computation of the bad debt expense is shown below:
bad debt expense is
= Written off amount + estimated uncollectible amount at the year end
= $650 + $250
= $900
We simply added the above two items so that the amount of the bad debts for the first year could come
Hence, the bad debt expense is $900
Answer:
$10,619.05
Explanation:
When sales is made at a tax rate of 5%, the entries to be posted in the proportion of the transaction amount
Dr Cash/ Accounts receivable 105%
Cr Sales revenue 100%
Cr Sales tax 5%
As such, if Sales Account totals $223,000 which includes both the sales revenue and the sales tax on the sales, it means that the accounts contains 105%, as such, the sales tax which is the amount owed the taxing agency
= 5/105 * $223,000
= $10,619.05
