C. Those who have the most deductions
Answer: Sales promotion
Explanation:
Promotion includes all the techniques sellers use to motivate/persuade people to purchase their product or services.
Sales promotion is a part of the promotional mix that uses media and non-media outlets to improve product awareness, increase consumer demands and marketability. It helps in stimulating consumers' interest in a product.
Sales promotion programs are designed to enhance personal selling, advertising, public relations, and other promotional efforts.
Sales promotions can take place both within/inside and outside an organization. It helps to attract new customers, with old existing customers and ease competition.
The current value of the mortgage will be given by:
A=P(1+r/100)^n
where:
P=$150,000
r=5%
n=16 years
therefore:
A=150000(1+5/100)^16
A=150000(1.05)^16
A=$201,014.35
If He wants to pay off his mortgage now, he needs $201,014.35
Answer:
Journal entry to record depletion expense
Depreciation expense $280,000 (debit)
Accumulated depreciation $280,000 (credit)
Explanation:
The coal mine is an economic resource controlled (ownership of risks and benefits) by Last year, Mountain Top, Inc as a result of past event (purchase transaction) from which economic benefits are expected to flow into the business (cash from sale of minerals).Therefore the coal mine is an asset!
The asset is being depleted as it is being used. This is called depreciation.
Depreciation expense in this case is calculated as :
Depreciable Account × Current harvest as a percentage of total estimated tons available
(900000-100000)× 70000/200000 = $280,000
