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Lelu [443]
2 years ago
11

question 3 fill in the blank: data involves creating new ways of modeling and understanding the unknown by using raw data.

Business
1 answer:
faltersainse [42]2 years ago
8 0

Data analysis involves creating new ways of modeling and understanding the unknown by using raw data.  

Working with data to extract relevant information that may be used to guide decisions is known as data analysis.

   What is data analysis?

  • Data analysis tools are software and programmers that gather and analyze data about a company, its clients, and its competitors in order to streamline operations and help decipher patterns so that decisions may be made using the data.
  • The process of inspecting, purifying, manipulating, and modelling data in order to find relevant information, support inferences, and help decision-making.
  • Data analysis is utilized in several fields of business, science, and social science and has many dimensions and methodologies.
  • It includes various techniques and goes by many different names. Data analysis contributes to more scientific decision-making and more efficient business operations in the modern business world.

To learn more about data analysis visit:brainly.com/question/18169335

#SPJ4

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Data related to the acquisition of timber rights and intangible assets during the current year ended December 31 are as follows:
stiv31 [10]

Answer:

a) Determination of the amount of the amortization, depletion, or impairment for the current year for each item:

   Item                 Impairment   Amortization    Depletion

                             Expense         Expense          Expense

a. Timber rights                                                  $304,000

b. Goodwill        $ 1,110,000

c. Patent                                     $456,000

b) Adjusting Journal Entries:

Date       Account Titles                                   Debit         Credit

Dec. 31   Depletion Expense -Timber rights  $304,000

              Accumulated Depreciation - Timber rights     $304,000

To record the depletion expense for Timber rights.

Dec. 31   Goodwill Impairment Loss             $1,110,000

              Accumulated Goodwill Impairment                $1,110,000

To record the impairment loss for Goodwill

Dec. 31   Amortization Expense - Patent     $456,000

              Accumulated Amortization - Patent                 $456,000

To record the amortization expense for Patent.

Explanation:

a) Data and Calculations:

February 22, Purchase of Timber rights $1,140,000

Estimated stand of timber = 6,000,000

Used board feet of timber = 1,600,000

Units of product Depletion

= $1,140,000/6,000,000 * 1,600,000

= $304,000

December 31, Goodwill impairment

= $1,110,000

April 3 Patent:

Cost incurred $9,120,000

Amortization per annum = $608,000 ($9,120,000/15)

Amortization for the current year = $456,000 ($608,000 * 3/4)

8 0
3 years ago
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per
Arturiano [62]

Answer:

$150,000

Explanation:

The computation of value of ending inventory under absorption costing is shown below:-

Total Cost per unit = Direct Material per unit + Direct Labor per unit + Variable Overhead per unit + Fixed Overhead per unit

= $5 + $4 + $3 + ( $200,000 ÷ 25,000 units)

= $5 + $4 + $3 + $8

= $20

Ending Inventory in units = Units produced - Units sold

= 25,000 - 17,500

= 7,500

Cost of Ending Inventory = Total Cost per unit × Ending Inventory units

= $20 × 7,500

= $150,000

So, for computing the cost of ending inventory we simply multiply the total cost per unit with ending inventory units.

8 0
3 years ago
Pls help me and merry Christmas
ser-zykov [4K]

Answer:

monthly

Explanation:

8 0
3 years ago
Read 2 more answers
A black market is A. a market in which buying and selling take place at prices that violate government price regulations. B. ver
bekas [8.4K]

Answer:

The answer is: A) a market in which buying and selling take place at prices that violate government price regulations.

Explanation:

Black markets happen when entities (individuals or businesses) engage in trading of goods and services that are prohibited by the governments. Or when the entities engage in trading activities and do not want to pay taxes from those transactions.

6 0
3 years ago
There are ___ credit reporting companies
MariettaO [177]
There are 3 credit reporting companies
5 0
3 years ago
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