The Federal Deposit Insurance Corporation (FDIC) insure account holder’s accounts for up to __

Prepare the journal entries for Mayhem Manufacturing:

Rama09 [41]

Organization Expenses Dr 7,500
Cash 7,500

June 14 Cash Dr 120,000
Common Stock 110,000
Paid-In Capital in Excess of par value—Common 10,000

June 22 Cash Dr 120,000
Preferred Stock 90,000
Paid-In Capital in Excess of par value—Preferred 30,000

6 0

3 years ago

In 2015, the city of Berkeley instituted a tax on sugar-sweetened sodas. Suppose that the tax increased the price of a typical s

DedPeter [7]

Answer:

(g) Between 0 and -S7.5k because residents can substitute to other products

Explanation:

Data given in the question

Increase in price of typical soda = 10 cents

Total consumed = 150,000 sodas [er day

Dropped quantity = 75,000 sodas

So by considering the above information, the per day compensating variation of the tax varies from 0 and - 7,500

Since the sugar sweetened sodas is treated as a normal goods. Moreover, people can substitute the other goods also if there is an increase in a price of the good

The -7,500 is come from = (-75,000 × 0.10)

The options are as follows

(a) Greater than -$15k because soda is a luxury good with income (b) -$15k because that is the old consumption level times the value of the tax (c) Between -S7.5k and -$15k because soda is a luxury good elasticity > 1 with income elasticity >1 (d) Between -$7.5k arti -$15k because residents can substitute to other products (e) -$7.5k because that is the new consumption level times the value of the tax ()-$7.5k because that is the change in consumption times the value of the tax (g) Between 0 and -S7.5k because residents can substitute to other products (h) Between 0 and -$7.5k because because beverages are typically necessity goods with 6) Nothing because there was no effect on income G) It is impossible to say without knowing consumers' marginal rate of substitution income elasticity less than 1

8 0

4 years ago

The services market sells diverse services such as legal advice, auto repair, and dry cleaning. Along with finance, insurance, r

omeli [17]

Answer:

Service Firms is the correct answer.

Explanation:

8 0

3 years ago

Clients with borderline personality disorder (BPD) are usually admitted to an inpatient setting because of what?

Ira Lisetskai [31]

Answer:

Threats of self harm

Explanation:

Borderline personality disorder is a mental disorder that makes people have harmful impact on the way people feel and think about them self. It comes with symptoms like overreacting, fear, instability and inability to do anything alone. This is usually caused by emotional triggered event that might be hard to reverse. People with this condition are always placed on constant check to avoid self harm or even harming others.

5 0

3 years ago

Flounder Company purchased a delivery truck for $33,000 on January 1, 2020. The truck has an expected salvage value of $2,000, a

Anna35 [415]

Answer:

Through straight line method

In year 2020 =3100

In year 2021 = 3100

Through double declining method

In year 2020=6600

In year 2021= 5280

Through activity based

in year 2020=4544

in year 2021=3366

Explanation:

Through straight line method

Formula is (Cost-salvage)/Useful years

So,

Cost of good is $33000

Salvage amount is $2000

Number of useful years 10

Putting the values

(33000-2000)/10

3100

As, this is straight line method, depreciation for the next year (2021) would also remain same. 3100

Through double declining method

Formula is 2* depreciation rate

so, 2* 1/10

double declining rate is 1/5

So, 33000*1/5= 6600

6600 for 2020

Next year (2021),

Now we would subtract the amount of 6600 (already depreciated) from the 33000.

So, 33000-6600= 26400

Applying the rate, 26400*1/5 = 5280

So, next year 5280

Through activity based

we depreciate the truck according to its usage

So, in first year it was used 13800 miles. Maximum it can be used for 100,000 miles

First year 13800/100000= 13.8% used

we depreciate then 33000*13.8%= 4554

So, in 2020 4554

Next year (2021)

It was driven 10200 which is 10200/100000= 10.2%*33000

So, 0.102*33000= 3366

In 2021, depreciation of machine according to the activity based system was 3366

4 0

3 years ago

The Federal Deposit Insurance Corporation (FDIC) insure account holder’s accounts for up to ___.