Answer:
The journal entry which is to be recorded for the dishonored note is shown below:
Explanation:
The journal entry which is to be recorded for the dishonored note is as follows:
Accounts Receivable A/c..............................Dr $2,075
Notes Receivable A/c...................................Cr $2,000
Interest Revenue A/c......................................Cr $75
Being the note which is received got dishonored
As the note got dishonored so the accounts receivable account will be debited against the notes receivable account and the account of interest revenue is also credited.
Working Note:
Interest revenue = Amount of notes receivable × Rate × Months / Total number of months
= $2,000 ×5% × 9/12
= $75
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Answer:
It isn't a violation of the law of demand. It is as a result of the elasticity of demand.
A tax is a compulsory sum levied on a good or service. Taxes increases the price of products. In determining whom should bear the greater burden of the tax between the consumer and the seller, elasticities are usually considered. The party with either a relatively inelastic supply or demand bears the greater burden of tax while the party with the more elastic demand or supply bears less burden of tax.
Demand (supply) is elastic if a small change in price has a greater effect on the quantity demanded (supplied).
Demand (supply) is inelastic if a small change in price has little or no effect on the quantity demanded (supplied).
For good X, consumers have an inelastic demand so they bear more of the tax Burden. As a result of the tax, price increases, yet the quantity demanded doesn't change. Therefore, the total revenue would rise.
For good Y, consumers have an elastic demand. Therefore, they bear less burden of tax. As a result of the increase in price, the quantity demanded falls and total revenue falls.
Explanation:
Answer:
Is equal to zero if the decrease in the net fixed assets is equal to the depreciation expense
Explanation:
Net capital spending in domain of finance can be regarded as net amount that is been spent by a firm for the purpose of acquiring fixed assets at a particular period of time, this gives indication regards the growth of that fixed assets of that particular company. During the expansion phase there is usually high amount of net capital spending. It should be noted that Net capital spending Is equal to zero if the decrease in the net fixed assets is equal to the depreciation expense
