Market failure occurs when a free market is unable to A) distribute resources efficiently.
Answer:
The Journal entries are as follows:
(i) On December 31,
No entry
(ii) On December 31,
Amortization expense A/c Dr. $16,000
To Patents A/c $16,000
(To record the amortization expenses)
Workings:
Amortization expense:
= (Purchasing cost of patent ÷ Estimated useful life) × Time period
= ($144,000 ÷ 6) × (8/12)
= $24,000 × (8/12)
= $16,000
The answer would be the stockholders w=equity minus
Answer:
1-Shortage
2- fall
Explanation:
Shortage (there will not be enough goods available to meet the demand for them)
Fall (when supply exceeds demand, prices fall until equilibrium is reached, and demand equals supply)
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