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3 years ago

Which of the following statements is true?

Business

1 answer:

VladimirAG [237]3 years ago

7 0

Answer:

Many countries do not have access to modern agricultural processes.

Explanation

"In desert regions, wells and irrigation are needed to supply water before crops can be grown at all. Insects, plant diseases, and rats are estimated to ruin one-third of the harvest in some areas, and where lands have been farmed for centuries the soil nutrients are gone. Proper fertilization and hybrid plants could easily multiply crop yields."

This Quote shows that third-world countries crops are going to die because they don't have any modern ways to get rid of insects, plant diseases, and rats.

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On December 21, 2020, Sage Company provided you with the following information regarding its equity investments. December 31, 20

Sindrei [870]

Answer:

(a) Dec. 31, 2020

Dr Unrealized Holding Gain or Loss- Income $1,610

Cr Fair value adjustment $1,610

(b) During 2021

Dr Cash $10,350

Dr Loss on sale of investment $550

Cr Equity Investment (trading) $10,900

Dr Fair value Adjustment $1,100

Cr Unrealized Holding gain or loss - Income $1,100

Explanation:

(a) Preparation of the adjusting journal entry needed on December 31, 2020

Dec. 31, 2020

Dr Unrealized Holding Gain or Loss- Income $1,610

Cr Fair value adjustment $1,610

(b) Preparation of the journal entry to record the sale of the Colorado Co. stock during 2021

During 2021

Dr Cash $10,350

Dr Loss on sale of investment $550

($10,900-$10,350)

Cr Equity Investment (trading) $10,900

Dec. 31, 2021

Dr Fair value Adjustment $1,100

Cr Unrealized Holding gain or loss - Income $1,100

Calculation for Fair value Adjustment

Cost FV Profit Unrealized Gain (Loss)

Clemson Corp. stock $20,400-$19,390 =$1,010

Buffaloes Co. stock $20,400-$20,900=-$500

Total portfolio $40,800 $40,290 ($510)

Previous Fair value adjustment $1,610

Unrealized Holding Gain $1,100

($1,100-$510)

4 0

2 years ago

One appraisal principle of value is based on the concept that the more a property or its components are in harmony with the surr

mario62 [17]

Answer:

Conformity

Explanation:

Conformity is an appraisal principle which states that the accurate value of a property tends to be created and then prolonged in a situation where the various features of the property meets up with the different demands of the market.

The basic principle of conformity describes how a particular property is suitable to be located in its surrounding. This is the main reason why different houses are built in the same pattern as the other houses situated in the area. This therefore increases the value of the property.

7 0

3 years ago

_______ property is an ownership fence, which applies to resources like land that more than one individual owns jointly.

OverLord2011 [107]

Answer:

Common

Explanation:

6 0

2 years ago

A company increases the price of its clock radios by 10 percent and the company's total receipts fall significantly. What term b

Galina-37 [17]

Answer:

Price elasticity of demand Relation

Explanation:

The reason is that the price and demand are inversely proportional to each other. If the price of the product increases the demand of the product will decrease and vice versa. So this means that if the organization wants to generate maximum profit then it will have to set a price that generate maximum demand which means which generates maximum profit. The Bugatti is very expensive and the result is that very fewer people own it in the world but the Mercedes with an above average price has customers in millions, Honda has more than million customers because it is priced average. So the thing is that the pricing matters in deciding how much of the total customers you want.

3 0

3 years ago

At the beginning of year 1, Looby Corp. purchases equipment for $100,000. The equipment has a residual value of $20,000 and an e

ANEK [815]

Answer:

Accumulated Depreciation at the end of year = $16,000

Explanation:

<em>Under the straight line method of depreciation, the cost of an asset less the salvage value is spread equally over the expected useful life.</em>

<em>An equal amount is charged as annual depreciation over the life of the asset. The annual depreciation is calculated as follows:</em>

Annual depreciation:

= (cost of assets - salvage value)/ Estimated useful life

Cost - 100,000

Residual value = 20,000

Estimated useful life = 10 years

Annual depreciation = (100,000- 20,000)/10 =8,000

Annual depreciation = 8,000

Accumulated Depreciation for 2 years = Annual depreciation× number of years

= 8,000× 2 = 16,000

Accumulated Depreciation for 2 years = $16,000

4 0

3 years ago