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3 years ago

Producer surplus is:

Business

1 answer:

Elena L [17]3 years ago

4 0

Answer: Option (d) is correct.

Explanation:

Producer surplus is associated with the producer of a good. Graphically, producer surplus is the area between the upper portion of supply curve and equilibrium price level. Producer surplus is also defined as the difference between the price at which sellers are willing supply and the actual price they received.

Producers surplus = Price paid by buyers - Cost of production

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An oil company purchased 10,000 acres of land on January 1, 2015, for $5,000,000, on which it developed an underground oil site.

dexar [7]

Answer:

the depletion would be recorded is $1,575,000

Explanation:

The computation of the depletion would be recorded is shown below;

Cost of land $5,000,000

Investment on land $1,100,0000

Less: Residual value -$250,000

Depreciable value $15,750,000

Now the depletion should be

= ($15,750,000 ÷ 500,000) × 50,000

= $1,575,000

Hence, the depletion would be recorded is $1,575,000

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3 years ago

What is outstanding credit card debt?

joja [24]

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3 years ago

15. Your company contracted for a 30-second commercial (an advertisement) that aired during the Super Bowl at a cost of $1.2 mil

Diano4ka-milaya [45]

Answer: D) It increases liabilities and decreases stockholders' equity by $1.2 million each.

Explanation:

Even though the company has not paid for the advertisement, the expense has already been incurred and by the Accrual principle of accounting it needs to be recorded.

It will therefore be recorded as an expense which will reduce the Income for the year which is a Stockholder equity account so therefore it will reduce the Stockholder account by $1.2 million.

Because the company has not yet paid for the advert, the amount have to be recorded as a liability to the company so liabilities will increase by $1.2 million.

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3 years ago

Kline Company refinanced current debt as long-term debt on January 5, 2019. Kline's fiscal year ended on December 31, 2018, and

nasty-shy [4]

Answer:

Explanation:

As a current liability. Are obligations of the company that are expected to get paid whitin the period of one year and include liabilities such as Accounts payable, short term loans, bank overdraft, interest payable and the other liabilities of the company that are current.

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3 years ago

Christie sued her former employer for a back injury she suffered on the job in 2019. As a result of the injury, she was partiall

charle [14.2K]

Answer:Christie's 2020 gross income= $172,000

Explanation:

According to IRS, under the tax benefit rule Amount of punitive damages and amount of recovered medical expenses is to be added to gross income, $240,000 for the loss of future income of will not be included.

Therefore we have that

Christie's 2020 gross income=Punitive damages + Recovered medical expenses = $160,000 + $12,000 = $172,000

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3 years ago