For a loss to be shown on his tax return, the total expenses (prices of goods, supplies, transportation and so on) must be larger than the sale or revenue.
Since he's always showing profit, this means that his revenue his more.
Scott may be including some illegitimate factors (factors that are not usually included in the calculation) in his calculations. These factors may lead to hypothetical loss for him.
Answer:
Dr Cash 11,000
Dr Accumulated Depreciation-Equipment 20,000
Equipment 31,000
Explanation:
Preparation of the Journal entry to record the disposition of the equipment
Since we were told that Lewis Company sold
the equipment for the amount of $11,000 in which the Accumulated Depreciation on the equipment to the date of disposal was the amount of $20,000 this means the journal entry to record the disposition of the equipment will be :
Dr Cash 11,000
Dr Accumulated Depreciation-Equipment 20,000
Equipment 31,000
(20,000+11,000)
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Answer:
A. doesn't lose any sales when it raises its price
Explanation:
- As monopoly is ruled by one set of prices and they are price makers thus even f the prices rise the price will be set above the marginal cost to maximize the profits. Thus a monopoly does not lose its market share as it acts as a single dominating factor in the supply and trade of the goods and services. And it stipulates the financial dealing through a single seller.
