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Kitty [74]
3 years ago
7

1. Alexander lives in an apartment building and gets a $250 benefit from playing his stereo. Mary, who lives next door to Alexan

der and often loses sleep due to the loud music coming from Alexander’s stereo, bears a $350 cost from the noise. What is the socially optimal solution? If Mary had to hire a lawyer to draw up the contract, what is the maximum amount she could pay to the lawyer to ensure that both Alexander and Mary would benefit from the agreement? Show all your work
Business
1 answer:
Genrish500 [490]3 years ago
3 0

Answer:

Alexander would enhance his stereo playing for 100 dollars more. Mary would pay a lawyer 100$

Explanation:

Socially optimal solution is the situation where all external costs are taken into account, as well as internal costs and benefits. Therefore, If Alexander's benefits from playing the stereo is 250 dollars and Mary's costs are 350 dollars, than in order to get socially optimal solutions, Alexander could enhance his stereo playing for 100 dollars more. Mary would pay a lawyer up to 100 dollars.

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Tony decides to hold the company’s first adventure race on December 15. Four-person teams will race from checkpoint to checkpoin
coldgirl [10]

Answer:

Dr. Cash                             $2,200

Cr. Unearned revenue     $2,200

Explanation:

As the entry fee for the the racing event is received in advance. The event is on December 15 and the entry fee is received earlier to decide the participants of the race. This receipt is not considered as the revenue income until the event held and race is over. The unearned revenue is considered as the liability and recorded in unearned revenue account as action from the tony side is due. as Tony completes action which is the racing event, the revenue will be recorded.

7 0
3 years ago
Twain's account of Colonel Rall's speech ("full of gunpowder and glory") is contrasted most vividly to the Marion Ranger's colle
stellarik [79]

Answer:

B

Explanation:

Twain's account of Colonel Rall's speech ("full of gunpowder and glory") is contrasted most vividly to the Marion Ranger's collective remorse over the shooting of an unarmed rider.

3 0
3 years ago
Explain the difference between primary and secondary authorities as sources of tax information. On which type of authority shoul
RSB [31]

Answer:

a.

Primary sources represent the law itself as interpreted by the statutory, administrative and judicial entities of the government while secondary sources can be generally defined as interpretations of the law done by non-governmental entities.

b.

The type of authority which professional tax research conclusions should be based on are the primary sources.

Explanation:

a.

Primary sources of tax information are documents that are provided directly by an authority usually the government. Primary sources usually carry heavy weight especially when there is a conflict in the understanding of a federal tax law. These sources are often used by law practitioners as a basis in understanding cases of a similar nature. Some examples of primary sources of tax information include; internal revenue code, final and temporary regulations, non-codified federal tax statutes, and judicial decisions on tax matters. In general primary sources represent the law itself as interpreted by the statutory, administrative and judicial entities of the government. They can be used in a case where a tax payer in arguing his or her case about their tax position in a court of law.

Secondary sources of tax information are documents that are provided by information vendors who provide research services, legal analysis and tax professionals. These sources usually rely on the professionalism and experience of individuals who have gained a reputation on tax law for advice and direction. Some examples of secondary sources include; legal periodicals like academic journals, legal analysts, scholars and tax law reporters. Secondary sources can be generally defined as interpretations of the law done by non-governmental entities.

b.

Professional research is usually done to enable one advance in his/her career in order to gain acceptance as an expert in that particular field. For one to join the ranks of a professional, they first need to prove their mastery of the knowledge in that particular profession. In our case, one needs to be aware of the law as provided by an authority. This means that one needs to argue his/her case in reference to the primary sources since these sources carry more weight in terms of understanding and experience as opposed to secondary sources that represent personal views that might be susceptible to bias. On this note, the type of authority which professional tax research conclusions should be based on are the primary sources.

5 0
3 years ago
Glebe Company accepted a credit card account receivable in exchange for $1,100 of services provided to a customer. The credit ca
zimovet [89]

Answer:

Account receivable balance = $1,100 - ($1,100* 5%)

Account receivable balance =$1,100 - $55

Account receivable balance = $1,045

Date    Account Title        Debit       Credit

           Cash Account      $1,045

                 To Accounts receivable  $1,045

7 0
3 years ago
Microsoft receives a cash payment in advance for cloud services is an example of
Dahasolnce [82]
1. Unearned Revenue
2. Accrued Expense
8 0
2 years ago
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