Safari limited acquired 2 new 7-ton buses on 1 January 1990 for £129,150. The cash price of

Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES

Strike441 [17]

Answer:

Net Income $

Income before income taxes 3,860

Income tax expense 1,544

Net income 2,316

Explanation:

Net income is calculated as income before income taxes minus income tax expense.

8 0

3 years ago

Determining what will occur in the market for oranges when there is an early freeze. a. Determining what will occur to inflation

Oksi-84 [34.3K]

Answer:

The answer is stated below:

Explanation:

Note: Here the questions is missing, that is

Which of the following will be a micro economic topic?

Microeconomics is the study which dealt with the knowledge of how the people take decisions at the small scale. It does not consider the economy as a whole.

So, the topic which are related to micr- economic are:

Determine the affects of the war on Iraq on the steel price. This dealt with the affects of war in Iraq, focusing on a single country.

Determine what will happen in the market for the oranges when they are freeze, this also dealt with the market of oranges, not the economy as a whole.

So, both the topics are dealt or related with the micro - economic.

6 0

4 years ago

Blue Spruce Corp. uses the percentage-of-receivables basis to record bad debt expense and concludes that 2% of accounts receivab

dedylja [7]

Answer:

The adjusting journal entry would be:

Debit: Bad debts expense $5,317

Credit: Allowance for Doubtful Accounts $5,317

Explanation:

Debit: Bad debts expense $5,317

Credit: Allowance for Doubtful Accounts $5,317

Explanation of the entry:

Allowance for doubtful debts at the end of the year = $402,000 × 2% = $8,040

Credit balance at the start = $2,723

Allowance for doubtful accounts = $8,040 - $2,723 = $5,317

The Allowance for Doubtful Accounts presently has a credit balance of $2,723 and allowance for doubtful debt at the end of year is $8,040, you need to enter an additional credit amount of $5,317 into the Allowance for Doubtful Accounts. The other part of this adjusting entry will be a debit of $5,317 to Bad Debts Expense.

6 0

3 years ago

For a particular good, a 12 percent increase in price causes a 3 percent decrease in quantity demanded. Which of the following s

Charra [1.4K]

Answer:

b.The good is a necessity

Explanation:

The price elasticity of demand = percentage change in quantity demanded/ percentage change in price

3% / 12% = 0.25

When the coefficient of elasticity is less than one, demand is inelastic.

Inelastic demand means that when price increases, there is little or no change in quantity demanded.

Necessity goods are goods that are very important to consumers and thus they tend to have an inelastic demand. For example, medications.

Substitute goods are goods that can be used in place of another good because of their similarity. E.g. butter and margarine

Goods with many substitutes have an elastic demand. If price of a good increases, consumers can easily shift consumption to substitute goods.

Narrowly defined goods have an elastic demand because it is easier to find subsituites for such goods.

Demand is more elastic in the long run because consumers have more time to search for substitutes.

I hope my answer helps you

3 0

3 years ago

What is the present value of a security that will pay $34,000 in 20 years if securities of equal risk pay 8% annually? Round you

OLga [1]

Answer:

present value = $7296.14

Explanation:

given data

future value = $34,000

time t = 20 year

rate r = 8% = 0.08

solution

we apply here future value formula for get present value that is

future value = present value × $(1+r)^{t}$ .....................1

put her value and we get

$34,000 = present value × $(1+0.08)^{20}$

present value = $\frac{34000}{1.08^{20}}$

present value = $\frac{34000}{4.660}$

present value = $7296.14

4 0

3 years ago