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:
The correct answer is option A.
Explanation:
Consumer spending refers to the expenditure of households on consumer goods and services. The aggregate consumer spending depends upon the disposable income of the consumer, the real interest rate, consumer optimism and wealth.
Consumer spending is positively related to disposable income, consumer optimism and wealth. The real interest rate is inversely related to consumer spending.
Answer:
$1,034.88
Explanation:
Aden total pay will be
regular hours worked x regular pay
=40 hrs x $15.68
=$627.2
Overtime hours
Saturday rate :$15.68 x 1.5 =$23.52
Hours worked on Saturday= 8 hrs
Saturday pay = $15.68 x 8
=$188.16
Sunday rate : $15.68 x 2= $31.36
Hours worked on Sunday = 7
Sunday pay = $31.36 x 7
=$219.
Total pay =$627.2 + $188.16 +$219.52
=$1,034.88
Answer: Option C
Explanation: The anti global activist are individuals who are concerned about the environmental effects on globalization. The anti globalist carries the perception that social and economic equality could be achieved without the negative effects of capitalism.
These activist complain that, if the business organisation are made free to trade then the poor countries like in Africa, will sacrifice their environmental duties for the investment from rich countries.
Hence from the above we can conclude that the correct option is c.
Answer:
The answer is given below;
Explanation:
Highlight Construction Company
Summarized Income Statement
For the year December 31, 2014
Amount in $
Sales Revenue 117,000
Expenses (86,200)
Net Income before taxes 30,800
Income Tax Expense (30,800*30%) (9,240)
Net Income <u>21,560</u>
As per requirement of the question, only summarized income statement is prepared.