What does a price ceiling often cause and why

The following selected transactions relate to cash collections for a firm that maintains a $100 change fund at all times. Presen

irakobra [83]

Answer:

a, Journal Entries to record transactions

Account Titles Debit Credit

Cash $5,412.36

Cash Short and Over $0.71

($5,413.07 - $5,412.36)

Sales $5,413.07

The actual cash in cash register is debited to cash account and cash receipts per cash register tally is credited to sales account and the balancing figure is debited or credited to Cash short and over account.

b. Journal Entries to record transactions

Account Titles Debit Credit

Cash $3,712.95

Cash Short and Over $0.79

(3,712.95 - 3,712.16)

Sales $3,712.16

7 0

3 years ago

If an economy consumes 68 percent of any increase in disposable income, then an increase in autonomous investment of $1 billion

madreJ [45]

Answer: The answer is $3,125,000,000

Explanation:

Since autonomous investment is government investment in the economy

68% of the increase in disposable income was consumed

Using the equation

Since Y = yd , spending in the economy is represented by

Equation C = 0.68yd, investment = $1,000,000,000

Y = C + I

Y = 0.68Y + 1,000,000,000

Y - 0.68 = 1,000,000,000

Factor out the variable Y

Y ( 1 - 0.68) = 1,000,000,000

0.32Y = 1,000,000,000

Divide both sides by 0.32

0.32Y/ 0.32 = 1,000,000,000 / 0.32

Y = 3,125,000,000

Therefore the increase in total spending will be $3,125,000,000

4 0

4 years ago

While conducting an audit of a new nonissuer client, an auditor discovers that accounting policies applied in relation to the fi

Marat540 [252]

Answer:

A) Obtain sufficient appropriate evidence about whether changes in the accounting policies have been appropriately accounted for and adequately presented and disclosed in accordance with the applicable financial reporting framework.

Explanation:

When such things happen, the auditor must search more information regarding the accounting policies and must evaluate if the company's accountants adopted accounting policies that are legal and adjust to applicable financial reporting (e.g. GAAP in the US). The auditor must also try to determine the effects of the applied policies and if all proper disclosures have been included or not. The auditor should also try to determine why the company's accounting department did that and how do they justify it.

3 0

3 years ago

For a single-server queueing system, which of the following is TRUE? A high utilization factor will result in a system that perf

ankoles [38]

Answer:

II only. A high utilization factor will result in a system that performs poorly is TRUE for a single-server queueing system. As it states that when designing a single-server queueing system, beware that giving a relatively high utilization factor (workload) to the server provides surprisingly poor measures of performance for the system.

True that queueing models enable finding an appropriate balance between the cost of service and the amount of waiting.

Explanation: RATE BRAINLIEST PLEASE

8 0

3 years ago

Koch traded machine 1 for machine 2. Koch originally purchased machine 1 for $75,500 and machine 1's adjusted basis was $40,250

ankoles [38]

Answer:

The correct answer is A that is $40,250

Explanation:

Adjusted basis is the term which is defined as it comprise of a change to the recorded at the initial cost of the security or asset. The cost of the security or asset is the initial recorded value, which is to be paid in order to acquire that security.

The exchange stated or qualify as a exchange of like kind. As no boots was transferred, therefore, the Koch basis in the new machine is the basis of the old machine. The adjusted basis of Koch in machine 2 after the exchange will amount to $40,250.

7 0

4 years ago