Answer:
8000$
Explanation:
The Income Statement is one of an organization's centre budget summaries that show their benefit and losses. Revidup should report 8000$ as a cost on its income statement. The expense of the sum sold must be accounted for in the income statement whether the payment is in advance or if the amount of money is made later. The reason to report 8000$ is that, it is the cost of the amount sold and it is compulsory to report it as an expense in income statement.
Answer:
a.
Date Account Title Debit Credit
Nov. 14 Note Receivable $4,800
Accounts Receivable $4,800
b.
Date Account Title Debit Credit
Dec, 14 Interest Receivable $56.40
Interest revenue $56.40
<u>Working </u>
= 4,800 * 9% * 47 days / 360
= $56.40
47 days is number of days from Nov. 14 to December 31.
c.
Date Account Title Debit Credit
Feb. 12 Cash $4,908
Interest receivable $56.40
Interest revenue $51.60
Notes Receivable $4,800
<u>Working:</u>
Cash = 4,800 + (4,800 * 90/360 * 9%)
= $4,908
Interest revenue = Cash - Interest receivable - Notes receivable
= 4,908 - 56.40 - 4,800
= $51.60
Answer:
The answer is: the equilibrium quantity is larger than the socially optimal quantity.
Explanation:
In order for the equilibrium quantity and the socially optimal quantity to be equal, the government subsidy should have been equal to the positive externality created by the flu shots ($8). Since the government subsidy is larger, $11, then the equilibrium quantity will be higher (more flu shots supplied because of high subsidy).
