Answer:
$3,000
Explanation:
Mark's basis at the beginning of the year = $3,000
Mark's share of Wick's income = $2,000 x 50% = $1,000
the distribution of the truck = $5,000
Mark's taxable income = basis - share of profits - truck's basis = $3,000 - $1,000 - $5,000 = -$3,000, so Mark has to report a $3,000 income from this distribution.
Answer:
Balance of Suppliers Account is $2200 debit
Explanation:
It is important to know that the Supplies Account increases on the debit side and decreases on the credit side.
On 1 February the account was $ 3080 and this was a debit since it was an existing balance.
Purchase during the year by Bonita Industries increased the Supplies Account. A debit entry of $2640 must be recorded.
Used supplies during the year decrease the Supplies Account. A credit entry of $3520 must be made
There for the balance left $2200(3080+2640-3520) is still on the increase side (debit).Hence the answer $2200 debit is correct.
True. When you analyze the key elements of a country's economic perspective environment, it is best to apply a systems perspective. When you follow the systems perspective you should be taking all of the behaviors, attributes and actions of a system when it's in its environment. instead of individualizing people and things within, it's an overall evaluation of the system.
Answer:
1. Negative externality: Jeff declined to buy his favorite chocolate bar because the price has increased.
2. Dollar vote: increased neighborhood crime is caused by a pawn shop.
3. Public goods: a freeway is available for all to use.
4. Positive externality: public education in the United States results in benefits for others around the world.
Explanation:
1. Negative externality: Jeff declined to buy his favorite chocolate bar because the price has increased. A negative externality arises when the production or consumption of a finished product or service has negative impact (cost) on a third party.
2. Dollar vote: increased neighborhood crime is caused by a pawn shop. A dollar vote describes how the consumer's purchasing power influences the type (quantity) of goods to be produced and supplied to the market.
3. Public goods: a freeway is available for all to use. It refers to any goods that is accessible and available to the general public at all times without an additional fee, charges or cost.
4. Positive externality: public education in the United States results in benefits for others around the world. A positive externality arises when the production or consumption of a finished product or service has a significant impact or benefits to a third party that isn't directly involved in the transaction.
