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Oksi-84 [34.3K]
4 years ago
12

Alabama this winter was socked in with snow which closed highways, stores and schools for weeks. Because of the road closures, s

oup was in greater demand but short on supply. The government put a temporary price ceiling on the cost of soup at $1. If the equilibrium for soup was at $5, what do you think happened?
Business
1 answer:
wlad13 [49]4 years ago
8 0

Answer:

people start black market for selling soup and delivering soup

Explanation:

we know here in winter due to snow highway is close so no transportation and if store will close than demand will be increase and supply will reduce

and if government reduce instant price up to 5 time for a short period than

i think people will try to stock it because there was a great demand and supply is very less than people start black market for selling soup and delivering soup

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Answer:

The amount Laramie should record the purchase of land is <u>$6.2 million</u>.

Explanation:

The costs of a fixed asset refer to the purchase price and other relevant costs which are incurred in order to the location and working condition required to operate the fixed asset in way that it is intended.

The other relevant costs that are added to the purchase price to arrive at the cost of the fixed assets include professional fees, non-refundable taxes or levies, and among others.

If any trade discount or rebate is given, this will be deducted from the purchase price to arrive at the cost.

Any interest required to be paid on the delayed payment in order to reflects the time value of money are not part of the cost of the asset but expensed in the year they are incurred.

From the question, the land acquired is a fixed asset. Based on the explanation above, the total cost of the asset is $6.2 million. The interest from the 6% interest rate on the remaining $5 million will be part of the cost of the land but it will be expensed in the year they are incurred.

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Answer:

B. A close corporation

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