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dusya [7]
2 years ago
6

Oaktree Company purchased new equipment and made the following expenditures:

Business
1 answer:
I am Lyosha [343]2 years ago
7 0

Answer:

The Journal entries are as follows:

(1)

Equipment A/c       Dr. $71,890

To cash                                           $3,790

To accounts payable                     $68,100

(To record the purchase of equipment)

Workings:

Equipment value:

= Purchase price + Sales tax + Freight charges for shipment of equipment + Installation of equipment

= 64,000 +4,100 + 890 + 2,900

= $71,890

Cash Paid:

= Freight charges for shipment of equipment + Installation of equipment

= 890 + 2,900

= $3,790

Accounts payable = Purchase price + Sales tax

                               = 64,000 +4,100

                               = $68,100

(2)

Prepaid Insurance A/c    Dr. $1,090

To cash A/c                                             $1,090

(To record any expenditures not capitalized in the purchase of equipment)

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Anuta_ua [19.1K]

Answer:

energy, direction, and persistence

Explanation:

Motivation is defined as the desire to act towards attainment of a goal. It is the driving force an individual has in setting and achieving objectives.

Motivation is also the process by which people are stimulated to perform actions that will lead to attainment of goals.

Key element of motivation are energy, direction and persistence.

There needs to be an energy to push for success, there is a direction or specific goal to be attained, and persistence to keep pushing for attainment of the goal.

6 0
3 years ago
The account Work-in-Process Inventory: Group of answer choices Consists of completed goods that have not yet been sold. Consists
Rudiy27

Answer:

Consists of goods being manufactured that are incomplete.

Consists of materials to be used in the production process.

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2 years ago
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The following information relates to next year's projected operating results of the Children's Division of Grunge Clothing Corpo
Fudgin [204]

Question:

The following information relates to next year's projected operating results of the Children's Division of Grunge Clothing Corporation:

Contribution margin.... 200,000

Fixed Expense.... 500,000

net operating loss..... (300,000)

If Children's Division is dropped, half of the fixed costs above can be eliminated. What will be the effect on Grunge's profit next year if Children's Division is dropped instead of being kept?

A) 50,000 increase

B) 250,000 increase

C)250,000 decrease

D) 550,000 increase

Answer:

Option A is correct

Increase in profit = $50,000

Explanation:

To determine whether or not it will be profitable to drop a loss making division, we compare the savings in fixed cost to the lost contribution from the division.

It is noteworthy that only the fixed cost attributed to division can only be saved should the division be shut down.

The analysis is done as follows:

                                                                              $

Lost contribution                                           (200,000 )

Savings in fixed cost (1/2× 500,000)          <u> 250,000 </u>

Net savings                                                 <u>   50,000</u>

Increase in profit = $50,000

3 0
3 years ago
How much would $100, growing at 5% per year, be worth after 75 years?a. $3,689.11b. $3,883.27c. $4,077.43d. $4,281.30e. $4,495.3
Radda [10]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

How much would $100, growing at 5% per year, be worth after 75 years?

We need to use the following formula to calculate the final value.

FV= PV*(1+i)^n

FV= 100*(1+0.05)^75

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6 0
3 years ago
Which of the following characteristics differentiates a firm in an oligopolistic market from a firm in a perfectly competitive m
Oliga [24]

Answer:

A) A firm in an oligopolistic market has to consider its own impact on price when making production decisions

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A perfectly competitive market is a market with many firms selling identical product. There are free entry and free exist and the decision of a firm does not affect the price in the market as all firms are price takers. Therefore, each firm is independent under perfectly competitive market and production decisions of a firm in a perfectly competitive market does not affect the price in the market nor will it cause any reaction from other firms.

However, Oligopolistic market is a market where there are few firms which are 3 or more firms but not more than 20 firms selling identical or differentiated product.. Firms in oligopolistic market are interdependent which implies that the decision of one firm can affect price and this can cause reaction from other firms and then lead to a price war. A price war occurs when each firm continually reduces its own price in order to increase its market share which causes other firms to react reducing their own prices and this will make none of the firms to gain in the end. In order to avoid the price war, each firm in an oligopolistic market has to consider its own impact on price when making production decisions.

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