Answer:
D. Star will be liable on the contract only if it adopts the contract.
Explanation:
Answer:
The journal entry to record depletion is :
Debit : Depletion Expense $74,235
Credit : Accumulated Depletion $74,235
Explanation:
<em>Depletion Expense = Depletion rate × units extracted during the year</em>
where,
<em>Depletion rate = (Cost - Salvage Value) ÷ Estimated total units</em>
Therefore,
Depletion rate = ($404,000 + $101,000 + $80,800 - $161,600) ÷ 4,040 tons
= $ 105 per ton
Therefore,
Depletion Expense = $ 105 per ton × 707 tons
= $74,235
<u>Journal Entry :</u>
Debit : Depletion Expense $74,235
Credit : Accumulated Depletion $74,235
Answer:
A.$30,000
B.$30,000
C.First-tier of $30,000 to both beneficiarie
Explanation:
Gomez Trust
a. (1/2×DNI $60,000)
=$30,000
b.$30,000
c.First-tier of $30,000 to both beneficiarie in which First-tier distributions can be said to be those distributions which are often composed of trust accounting income that is required to be distributed currently.
Hence there are no second-tier distributions because the tier system only accounts for the annual DNI amounts, and all of the $60,000 DNI are been distributed on the first tier.
Answer:
See explanation section
Explanation:
Export - When a country ships its domestic products (Goods and Services) to another country, after meeting the demand of the domestic people, for processing, using, and selling those, the term refers to export.
Import - When a country brings other countries' products in order to fulfill the demand of its population, it is coined as an import.
Balance of Trade - When there is a difference between the country's net monetary value of exports and imports, it is called the balance of trade. If export exceeds the import, there will be a trade surplus. On the other hand, when import exceeds the export, there will be a trade deficit.
