Answer: Please see below for answers
Explanation:
Year Straight-Line Declining Balance Difference (000s)
2018 $400 $853 $453
2019 400 569 169
2020 400 379 (21)
$1,200 $1,801 $601
Asset cost =$2,720,000
Accumulated depreciation till 2020= $1,801,000
Book value beginning of 2021=$919,000
Residual value= -$200,000
Depreciable value= $719,000
Remaining estimated life= 6-3years=3
Annual straight line depreciation= $719,000 /3 = $239,667
rounded dollar= $240,000
2021 journal entry
Adjusting entry Debit Credit
Depreciation expense $240,000
Accumulated depreciation $240,000
The total Lower of Cost or Market is $38870.
<h3><u>
What is Lower of Cost or Market?</u></h3>
- Companies using U.S. GAAP must value their inventories using the lower of cost or market (LCM) technique.
- The lower of the original cost or market value is used to value inventory in the lower of cost or market approach, as the name suggests.
We have,
Mountain Bikes: 15 units, cost: $710, market: $660, total cost: $10,650, total market: $9900, LCM: $9900
Skateboards: 20 units, cost: $260, market: $290, total cost: $7800, total market: $8700, LCM: $7800
Gliders: 29 units, cost: $810, market: $730, total cost: $23490, total market: $21170, LCM: $21170
Total cost: $41940
Total market: $39770
Total LCM: $38870
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Answer: They slope upward because higher prices lead individual businesses to supply a larger quantity and more businesses are willing to supply goods and services.
Explanation:
One way a magazine can sustain reader interest which are alternating is to take advantage of outside partnership from other print medias.
<h3>What is Reader Interest?</h3>
This refers to the level of interest a group of readers have for a particular written literature and whether they have low or high reception to the written work.
Hence, we can see that based on the fact that a magazine is periodical, it is possible to enter a partnership with another print media who has no such limits to a publisher's title to publish and hence, maintain reader's interest.
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An investor gets paid a dividend. An ownership stake in the company gives the investor (owner) the right to a portion of the company's earnings. This payout of a share of profits of a business to the owners is called a dividend.
The Retained Earnings account has no money in it. Retained Earnings represent the business's commitments to its stockholders. It is the number of past earnings that have not been paid out to owners.
<h3><u>Retained Earnings: What Are They?</u></h3>
After deducting dividend payments, a company's retained earnings are its total net earnings or profits. The term "retained" refers to a crucial idea in accounting that describes how earnings were held by the corporation rather than distributed to shareholders as dividends.
Because of this, retained earnings go down when a business experiences a loss or pays dividends and go up when new profits are generated.
<u>What are the retained earnings calculation and formula?</u>
RE = BP + Net Income (or Loss) - C - S, where:
BP = Starting Period RE
C = Cash dividends
S = stock dividends.
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