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2 years ago

A $1 per unit tax levied on consumers of a good is equivalent to

1 answer:

7 0

Based on accounting principles, a $1 per unit tax levied on consumers of a good is equivalent to "a $1 per unit tax levied on producers of the good."

This is based on the idea that the market reaches the exact equilibrium price irrespective of who is accountable for paying the money to the government.

In other words, when the government levies a tax on a good, producers are not exempted from the tax levy because that money will be recouped from the producers' sales or revenue.

Hence, in this case, it is concluded that tax on goods is inevitable to consumers and producers.

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A company reported beginning inventory of 100 units at a per unit cost of $25. It had the following purchase and sales transacti

patriot [66]

Answer:

14-Jan

Dr Trade Receivable $1,125

Cr Sales

14-jan

Dr Cost of sales 625

Cr Inventory 625

9-Apr

Dr Inventory 375

Cr Trade Payable 375

2-Sep

Dr Trade Receivable $2,500

Cr Sales $2,500

2 sep

Dr Cost of sales $1,375

Cr Inventory $1,375

Dec 31 No journal entry

Explanation:

Preparation to Records the month-end journal entries noted below, assuming the company uses a periodic inventory system

14-Jan

Dr Trade Receivable $1,125

Cr Sales (45*25)

14-jan

Dr Cost of sales[25*25] 625

Cr Inventory 625

9-Apr

Dr Inventory (25*$15) 375

Cr Trade Payable 375

2-Sep

Dr Trade Receivable $2,500

Cr Sales (50*50) $2,500

2 Sep

Dr Cost of sales $1,375

Cr Inventory $1,375

($2,500-$1,125)

Dec 31 No journal entry

8 0

2 years ago

Two months ago, Air-tite Corporation purchased 4,500 pounds of Hydrol, paying $15,300. The demand for this product has been very

Anna007 [38]

Answer: The $4.05 market price

Explanation: Air-tite can buy or sell Hydrol at $4.05. If they decide to accept the order, there has to be a higher return on the use of Hydrol in the return than they would get from selling Hydrol as is.

There may also be an opportunity cost to using the product for this special order if there is an order that would yield higher returns for the use of Hydrol.

The quantity that would remain after making the special order does not have any impact on the decision making process, as they are considering just one order that requires Hydrol.

The purchase price is not relevant as they cannot purchase Hydrol at that price in the present. The total quantity is not relevant either as they have enough for the order.

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3 years ago

How to make a business tycoon by yourself?

Mila [183]

Answer:

Be Creative: Always be looking for ways to improve your business and to make it stand out from the competition. ...

Get Organized: ...

Be Consistent: ...

Analyze Your Competition: ...

Understand the Risks and Rewards: ...

Stay Focused:

Ability to become a leader: ...

Great decision-maker:

Explanation:

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8 0

3 years ago

What are the benefits of preparing a business plan?

Damm [24]

Answer:

See the whole business. Business planning done right connects the dots in your business so you get a better picture of the whole

Strategic Focus

Set priorities

Manage change

Develop accountability

Manage cash

Strategic alignment

Milestones

Explanation:

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3 years ago

Jackie notices everyone wearing Converse sneakers on the first day of school. Ever the fashionista, this will likely affect: Mul

masha68 [24]

Answer:

Jackie's income, as she now needs to buy Converse and will have less to spend on other goods.

Explanation:

Jackie is a fashionista and so she would respond to trends. Since everyone around her is wearing converse, she would want to wear converses too. so her income would be affected as it would be reduced as she would buy the converse.

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3 years ago