Answer:
Tax carried forward to consumer $2
Effective tax on the producers $ 1
TRUE
As the nominal tax is always subject to elasticity in demand and supply which generates an effective tax burden on each party.
Explanation:
<em><u>Before-tax:</u></em>
Quantity 25
Price $7
<em><u>After-tax:</u></em>
Quantity 18
Price $8
The producer receives $5 (thus there has been a tax of $3)
The tax-burden (who actually pay the tax)
is based on the elasticity of the demand and supply of the market.
When demand is more inelastic the tax burden goes into the consumer more than producers.
When supply is more inelastic the tax burden goes into the producer more than consumers.
Answer:
B)$330,000
Explanation:
Jeff contribute
cash 50,000
land 310,000
with a mortgage of 30,000
Total contribution
assets 360,000
liabilities (30,000)
<u>total 330,000</u>
<u></u>
The entry to record the land will be:
Land 310,000
Mortgage payable 30,000
Jeff Capital Account 280,000
The land is recorded, the parthnership assumes the mortage and the remainder goes into Jeff Capital Account.
Answer:
Telemarketing
Explanation:
Telemarketing involves the use of telecommunications devices like telephone, internet, and fax to market commodities to potential buyers. Telemarketers are the ones that usually do the marketing of the goods and services, but it now more of automated telephone calls or robocalls.
The advantages of telemarketing is that it saves time and cost, and it is also convenient. However, it has a major demerit which is the fact that allow of scams and fraud are now being committed through it.
I wish you the best.
Answer:
quick ratio = 4.77
Explanation:
quick ratio = (current assets - inventory) / current liabilities
current assets = $910,000 + $1,330,000 + $1,050,000 = $3,290,000
inventory = $1,050,000
current liabilities = $470,000
quick ratio = ($3,290,000 - $1,050,000) / $470,000 = 4.766 ≈ 4.77
Answer:
Option A
Total cost of goods sold = $<u>1,007.7</u>
Explanation:
<em>Under the last -in-first-out (LIFO) method, inventory are priced using the price of the newest/latest batch in stock until a new batch is received after which the price of the new batch is used and this is continued.</em>
So we apply the principle as follows:
$
July 14 sale of 83 units = 83× 6.90 = 572.7
July 30 sale of 58 units = 58× 7.50 = <u>435</u>
Total cost of goods sold <u>1,007.7</u>
Total cost of goods sold = $1,007.7