Answer: d. The car is a normal goods for Jim
Explanation: if an individual's income goes up by a certain percentage or amount and, in response, the quantity demanded of good rises by rises in response to the income increase, such good can be considered a normal good. It is also defined as such good for which the income elasticity of demand is positive but less than one. This is the same scenario that has happened with Jim. His demand for better automobile increased as a result of an increase in his income.
Answer:
c. $215,000
Explanation:
The computation of the amount charged to income is shown below:
But before that first we have to determine the book value as on Jan 2024 which is
Total patent cost
= $200,000 + $50,000
= $250,000
Amortized cost till year 2024 is
= ($250,000 ÷ 10 years) × 3 years
= $75,000
The three years is counted from 2021 to 2024
Now
Book value on Jan 2024 is
= $250,000 - $75,000
= $175,000
So,
Amount charged to income is
= $175,000 + $40,000
= $215,000
The least likely task to be done while the worksheets are
grouped when you have a workbook that contains sales data for different
regional sales representatives of a company, is to make sure that you ungrouped
sheets if ever you want to perform a task on only one worksheet because if you
forget to ungroup sheets you could potentially ruin several worksheets by
overwriting data on all worksheets instead of just the active worksheet.
I believe it is 75? I may be incorrect