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Point 1: Suppose that the U.S. government decides to charge beer consumers a tax. Before the tax, 50 billion cases of beer were sold every year at a price of $4 per case. After the tax, 45 billion cases of beer are sold every year; consumers pay $6 per case (including the tax), and producers receive $3 per case.
Point 12: The amount of the tax on a case of beer is $____ per case. Of this amount, the burden that falls on consumers is $___ per case, and the burden that falls on producers isper case.
True or False: What are The effect of the tax on the quantity sold would have been smaller if the tax had been levied on producers.
a. True
b. False
Explain the revenue principle and its implication on the financial statements. Define the matching principle and why it is critical in the preparation of the accrual-based financial statements.
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On December 31, 2012, Berclair Inc. had 500 million shares of common stock and 22 million shares of 7%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2013, Berclair purchased 30 million shares of its common stock as tr..
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Prepare an Income Statement of Actual Results using Variable costing, determine the breakeven point in dollars and Calculate DOL.
Computer Accounting Assignment – Enter the business information including name, address, ABN and company preferences - Calculate and record adjusting entries
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