The best thing that Marla should do in this type of problem is letter d, investigate the market. It is because in doing business especially to the field that she is going to take on, it is best to assess and evaluate the decision and the outcome of it. It is best to make sure if she could benefit from it and could be a potential as she runs the business.
Answer:
b. $120,800.00
Explanation:
Cost of the land $ 600,000/-
Associated expenses:
Razing down the shed: $ 5000
income from scrap: $ 1000
Total expenses $ 4000
The total cost of land =600,000+4000= $ 604,000
Tax allocation: land and building $ 500,000
land allocation will be: 100,000/500,000 x$ 604,000
=0.2x604,000
=$120,800.00
Answer:
Explanation:
The closing entry of the income summary account is shown below:
Income summary A/c Dr $81,300
To Retained Earning A/c $81,300
((Being the difference is credited to retained earning))
The retained earning balance is calculated by taking a difference between:
= Annual revenues - Expenditure
= $185,000 - $103,700
= $81,300
The income summary should always be closed after closing of revenue and expenditure account.
The most likely result of this price control would be that the <span>demand for bread will fall, which could result in an excess supply. his excess supply in the market would ultimately force the hand of the manufacturers to stop the production of bread. I hope that this is the answer that has come to your help.</span>
