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
The answer to this question is the letter "E" which is the "anyone in the organization". Wiki is a blog or a website where anyone in the organization is allowed to access it to view and access materials and edit it. Hence, is a team uses wikis to collaborate on a report, the editing and updating of the report should be done by anyone in the organization.
Answer: This rate setting scheme creates an adverse selection problem: Homeowners with houses on unstable soil are more likely to purchase insurance than homeowners with houses that rest on bedrock
Explanation:
California has its own earthquake insurance program for homeowners and the rates vary by the ZIP code, which depends on the proximity of nearest fault line.
However, critics claim that the people who set the rates ignored soil type. Some houses rest on bedrock while others sit on unstable soil. If the soil type is used, rate setting scheme creates an adverse selection problem.
An adverse selection problem is tendency of those in high-risk areas to purchase the insurance claim because there are higher chances they may get affected. Therefore, the homeowners with houses on unstable soil will more like buy insurance than the homeowners with houses that rest on bedrock.
The phrase that describes his investment strategy is "Risky and Long term investor".
Basically, an investment strategy refers to set of rules, behaviors or procedures which are designed to guide an investor's on the selection of an investment portfolio.
- Majority of investors fall between lower risk investor, moderate risk investor and higher risk investor.
- The portfolio that he invests in ( stocks and high-yield bonds) is an example of high risk portfolio
In conclusion, the phrase that describes his investment strategy is "<em>Risky and Long term investor</em>"
Read more about investment strategy:
<em>brainly.com/question/1101043</em>
