Answer:
The balance in the investment account on December 31 will be $325,000
Explanation:
The equity method is computed by applying an equation which is shown below:
= Opening balance of common stock + rate of common stock × (Net income - dividend paid)
= $300,000 + 25% × ($160,000 - $60,000)
= $300,000 + 25% × $100,000
= $300,000 + $25,000
= $325,000
Since, only 25% of common stock is acquired so, only 25% is to be considered in the computation part. And all other balances are also considered together.
Hence, the balance in the investment account on December 31 will be $325,000
Answer:
credited ; debited ; retained earnings or capital account
Explanation:
The closing entries are as follows
Sales Revenue A/c Dr XXXXX
To Income Summary XXXXX
(Being revenue account closed)
Income summary A/c Dr XXXXX
To Expenses A/c XXXXX
(Being expenses accounts are closed)
Income summary A/c Dr XXXXX
To Retained earning XXXXX
(Being the difference is credited to retained earning)
<span>Americans own about four digital devices, and the Americans spend about 60 hours per week consuming content across devices. Some digital devices are computers, HDTV's, and smart phones. Using digital devices has also made it more common for Americans to visit social media.</span>
Answer:
The correct answer is letter "B": reported on the balance sheet as a deduction from the cost of the mineral deposit.
Explanation:
Depletion refers to an accounting method used to allocate extraction costs for quarrying minerals or any other natural resource such as oil. Only when the costs of the resource were capitalized, the costs of the extraction are allocated over the periods when they were extracted. The allowance can be registered as a percentage or a cost.
<em>On the balance sheet, depletion is deducted from the cost of the mineral deposit of the firm.</em>
Answer:
c. full employment
Explanation:
The classical theory refers to a theory in which there is an existence of the full employment. The unemployment would be arise by including the legislation of the trade union and the legislation of the minimum wages in the market system i.e. free based.
Therefore according to the given situation, the option c is the correct and the same is to be considered