Answer: it is price floor
Explanation:
5$ is the lowest the price can go because they will NOT set it any lower, but it can go higher from there.
i took the testtoo, i got it correct.
floor is the lowest price, ceiling is the highest.
Answer:
Journalize the following transactions for the Scott company:
Nov 4. Received a $6,500, 90-day, 6% Note from Michael Tim's in payment of his account.
Dr Notes receivable 6,500
Cr Accounts receivable 6,500
Dec 31. Accrued interest on the Tim's note.
Dr Interest receivable ($6,500 x 6% x 57/365) = 60.90
Cr Interest revenue 60.90
Feb 2. Received the amount due from Tim's on his note.
Dr Cash 6,596.16
Cr Notes receivable 6,500
Cr Interest receivable 60.90
Cr Interest revenue 35.26
I did all my calculation based on a 365 day calendar year. Generally banks calculate interest on a 360 day calendar year.
Answer:
Recycling for profit
Explanation:
People tend to think recycling is an idea in which is made from old plastic bottles which a cost-effective for business of collecting and selling household recycling.
Answer:
$24,396
Explanation:
The total of accounts written off for 11 months can be calculated by subtracting the November 30 balance from the total of beginning balance
Bad debt - Bad debt written off
= Allowance for bad debts + bad debts expense - Allowance for bad debts account as at November 30, 2019
= $13,049 + $21,058 - $9,711
= $24,396
Answer:
The correct answer is (B)
Explanation:
Contractionary fiscal policy is applied by governments to reduce fiscal deficit. It is a type of financial approach that includes diminishing government expenditures and increasing taxes. The main idea is to increase revenue and decrease expenditures. Contractionary fiscal policy has led to a decrease cyclically-adjusted deficit as a percentage of GDP from 2% to 1%.