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Journalize the Following Transactions for Solley Company That Occurred During

question 104

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Journalize the following transactions for Solley Company that occurred during 2011 and 2012.
November 14, 2011 Received a $4,800.00, 90-day, 9% note from Alan Hibbetts in payment of his account.
December 31, 2011 Accrued interest on the Hibbetts note.
February 12, 2012 Received the amount due from Hibbetts on his note.
Journalize the following transactions for Solley Company that occurred during 2011 and 2012. November 14, 2011 Received a $4,800.00, 90-day, 9% note from Alan Hibbetts in payment of his account. December 31, 2011 Accrued interest on the Hibbetts note. February 12, 2012 Received the amount due from Hibbetts on his note.

Determine the outcome of different types of market interventions like price ceilings and price floors.
Interpret graphical representations of market supply and demand shifts due to taxes and price controls.
Calculate the tax revenue generated from imposed taxes.
Assess the effects of tax imposition on market efficiency.

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