If price changes by a larger percentage than quantity demanded (i.e., if demand is price inelastic), total revenue will move in the direction of the price change. ... Demand is unit price elastic, and total revenue remains unchanged. Quantity demanded falls by the same percentage by which price increases.
Answer: $618,096
Explanation:
Accumulated depreciation after 5 years = 20% + 32% + 19.2% + 11.52
= 82.72%
Value after 4 years = 3,300,000 * ( 1 - 82.72%)
= $570,240
Gain on sale = Salvage value - Net book value
= 650,000 - 570,240
= $79,760
Aftertax salvage value = 650,000 - (Gain on sale * tax)
= 650,000 - (79,760 * 40%)
= $618,096
The right answer is none of the above, its Bonds payable.
Answer: $7185
Explanation: Shareholders equity refers to the amount of funds that are collected by the company by selling their ownership rights in the market to the general investors.
As per the subject matter of accounts, every asset that is owned by an organisation is either financed by the available funds or some liability is taken to buy it. This could be illustrated as follows :-
assets = shareholders equity + liabilities
Putting the values into equation we get :-
$2280 + $ 10,400 = $1,405 + $4090 + shareholders equity
therefore :-
shareholders equity = $7185
Answer:
B. Debit insurance expense for $13,500 and credit prepaid insurance for $13,500.
Explanation:
If 6 months past from the beginning of the contract then these past 6 months must be reflected as expenses in the balances.
$13,500 reflect the expenses of the past 6 months from July 1 to December 31, then the entry Debit insurance expense for $13,500 and credit prepaid insurance for $13,500 reflect the proper balances at the end of the year.
