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iogann1982 [59]
2 years ago
9

For each hypothetical scenario, indicate whether the tariff described is more likely a protective tariff or a revenue tariff.

Business
1 answer:
LenaWriter [7]2 years ago
7 0

Answer:

a. In response to concerns from business leaders, a legislator has designed a new tariff on raw materials used by many manufacturing firms. The legislator felt the new tariff was necessary based on input from the private sector that new discoveries of natural resources abroad would threaten to put domestic producers of raw materials out of business. To meet this goal, this tariff will charge $1,500 on every crate of the imported goods plus an additional 6% of the total value of the imported goods.

  • protective tariff since it is designed to protect domestic industries from competition of out of state producers. It is designed to increase the price of imported goods.  

b. In an effort to balance next year's budget, a senator has proposed a new tariff. She proposed the new tariff with a goal of raising a total of $100 million, To meet this goal, this tariff will charge $2,000 on every ton that is imported.

  • revenue tariff since its main purpose is to increase government revenue, not to protect domestic industries.
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Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in.
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Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in the cash flows from investing activities section.

What is depreciation?

Depreciation is an accounting technique that distributes an asset's cost throughout its anticipated useful life. Depreciation is a recurring expense that businesses report on their income statement. Assets degrade with time, losing value.

Which activities are reported on the statement of cash flows?

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Sarah has a toothache. She believes it may be due to her not having regular dental checkups in the past. She now wants to find a
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Credence properties

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2 years ago
On January 1, 2021, Hoosier Company purchased $940,000 of 10% bonds at face value. The bond market value was $985,000 on Decembe
qaws [65]

Answer:

1.

Dr Bonds 940,000

Cr Cash 940,000

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & losses 45,000

2.

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & Losses 45,000

3.

Dr Investment in bonds 985,000

Cr Discount on bond investment 45,000

Cr Cash 940,000

Explanation:

Hoosier Company Journal entries

1.

Dr Bonds 940,000

Cr Cash 940,000

Dr Fair Value adjustment 45,000

($985,000-$940,000)

Cr Net Unrealized holding gains & losses 45,000

2.

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & Losses 45,000

3.

Dr Investment in bonds 985,000

Cr Discount on bond investment 45,000

Cr Cash 940,000

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3 years ago
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