Which best describes what is represented in the business cycle model?

Mendrisio Company purchased a piece of machinery for $30,000 on January 1, 2019, and has been depreciating the machine using the

aleksley [76]

Answer:

a. There is no entry required to record the accounting change

b. The journal entry to record depreciation for 2021 would be as follows:

Debit Credit

Depreciation Expense $3,000

Accumulated Depreciation $3,000

Explanation:

According to the given data we have the following:

Sum of year digits=5(5+1)/2

Sum of year digits=(5*6)/2

Sum of year digits=15

Depreciation for year 2019=$30,000*5/15

Depreciation for year 2019=$10,000

Depreciation for year 2020=$30,000*4/15

Depreciation for year 2020=$8,000

Therefore, book value as on january 1, 2021=$30,000-$10,000-$8,000

book value as on january 1, 2021=$12,000

Revised useful life=6 years-2 years=4 years

Therefore, Revised depreciation for 2021=$12,000/4

Revised depreciation for 2021=$3,000

a. There is no entry required to record the accounting change

b. The journal entry to record depreciation for 2021 would be as follows:

Debit Credit

Depreciation Expense $3,000

Accumulated Depreciation $3,000

3 0

3 years ago

Producer surplus is defined as the:difference between a price floor and the market price.gap between the supply curve and the ma

klemol [59]

Answer:

Gap between the supply curve and the market price.

Explanation:

Producers surplus refers to the surplus that a producer of a commodity can obtain. The producers surplus is the difference between the producer's willingness to accept the price and the actual price they have received.

Producers surplus = Actual market price - Willingness to accept the price

Graphically, it is the area between the upper portion of supply curve and the market price.

7 0

3 years ago

As a company works to build relationships with its customers, its leaders must determine which customer needs they will seek to

Zepler [3.9K]

Answer:

A. Monitoring customer trends in the industry and of consumers as a whole

Explanation:

8 0

3 years ago

Suppose US follows a fixed exchange rate regime. Decrease in import tariff on Mexican good by the US government will lead to of

Serjik [45]

Answer:

D) Undervaluation, buy

Explanation:

If the US government has a fixed exhange rate with the Mexican peso, and then, lowers tariffs on mexican goods, mexican goods will become cheaper for the American consumer, and American consumers will start to import more of them.

They will pay for those Mexican goods with US dollars that will leave the American economy, leaving the Fed with more Mexican pesos than US dollars than before.

In order to keep the exchange rate fixed, now the Fed will have to buy US dollars in the open foreign exchange market in order to reach equilibrium again.

8 0

3 years ago

Cities with populations of more than 5,000 may adopt ______ that establish any organizational structure or program that does not

AlekseyPX

Any organizational structure or program that does not contravene state law or the constitution may be established by home-rule charters in cities with a population more than 5,000.

A home rule charter essentially creates the structure of the local government and lays out its rights and obligations. Home rule for a county or municipality allows for any activity that is not specifically forbidden by the state constitution, the General Assembly, or the charter itself.

Home rule charters

The Republic of Texas' establishment in 1836 marked the beginning of Texas' existence as a corporate entity. Both a small local area and a much bigger region were included in the municipalities that fell under Spanish and Mexican rule. At the commencement of the county's existence, the municipality During the republic's early years, the district was transformed into a county, and urban centers began to be incorporated, first by the Texas Congress and then, in 1845, by the state assembly. Early congressional and special legislative acts included charters and articles of incorporation, but all of these had to be explicitly approved by the central body because "home rule" had not yet been conceptualized.

More information on home rule charters can be found at brainly.com/question/18872286

#SPJ4.

5 0

2 years ago