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3 years ago

A normal good is defined as one:

Business

1 answer:

AlexFokin [52]3 years ago

5 0

Answer:

The correct answer is letter "D": the consumption of which varies directly with incomes.

Explanation:

Normal goods are those with quantities demanded increasing when consumers' income increases. Quantity demanded and increase have a directly proportional relationship. Consumer staples such as foods, drugs, and fuel are considered normal goods.

The opposite of normal goods are inferior goods which have decreasing quantities demanded in front of increases in consumers' income.

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Bill's Grill is a popular college restaurant that is famous for its hamburgers. The owner of the restaurant, Bill, mixes fresh g

Crazy boy [7]

Bills grill is a popular college resturant that’s is famous

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3 years ago

Clampett, Incorporated, has been an S corporation since its inception. On July 15, 2021, Clampett, Incorporated, distributed $50

statuscvo [17]

Answer:the total amount of income J.D. recognizes related to Clampett, Incorporated, in 2021 =$5,000

Explanation:

Income of J.D related to Clampett = Ordinary income + Capital gain

Given that Basis distribution = $50,000

Basis stock = $45,000

Ordinary income = $10,000

But Capital gain = Basis distribution -( Basis stock + Ordinary income)

Capital gain = $50,000 - ($45,000 +$10,000)

Capital gain = $50,000 - $55,000

Capital gain = = - $5,000

Therefore J.D. income related to Clampett = Ordinary income + Capital gain =$10,000 +(- $5,000)

=$10,000 - $5,000

=$5,000

7 0

2 years ago

Pontchartrain Company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid on June 30 and De

solmaris [256]

Answer:

$1,568,498

Explanation:

First calculate the Amont of discount

Discount on the bond = Face value - Proceeds from the bond = $20,000,000 - $19,604,145 = $395,855

Now prepare the bond amortization

The Bond Amortization schedule is attached with this answer, please find it.

Now calculate the interest expense for 2017

Interest Expense 2017 = $784,165.80 + $784,332.43

Interest Expense 2017 = $1,568,498.23

Interest Expense 2017 = $1,568,498

3 0

3 years ago

Toby and Keith are planning to create and jointly own a company that will license their patented technology solely for royalties

Fantom [35]

Answer: Limited liability company

Explanation:

In such a structure the owners and the firm are considered separate. The owners in a LLC could not be held personally liable for the debts and liabilities of their company.

The companies have the limited liability feature of the corporations while the profit distribution method depicts partnership structure.

In the given case, Toby and Keith wants to distribute profit among them and also do not want to raise any outside capital. Also they want limited liability in their organisation.

Hence a Limited liability company is an appropriate choice for them.

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3 years ago

What will be the depreciation, via the straight line method, if the cost of a plant is $43,250, estimated disposal value is $3,2

Alinara [238K]

Answer:

depreciation expense per year 8,000

Explanation:

The first step, is to calculate the depreciable amount for the asset:

cost - salvage value = amount subject to depreciation

43,250 - 3,250 = 40,000 = depreciable amount

Then, we calculate the depreciation per year:

depreciable amount/ useful life = depreciation per year

40,000/5 = 8,000

In some particular cases, the first year the asset enter the accounting it could be for a period of half the accounting period, so only half-year depreciation is appliedon the first year.

7 0

3 years ago