It is usually less expensive to rent an apartment than to purchase similar sized home when the land in the area is overprized.
<h3>
What is an apartment?</h3>
An apartment, also known as a flat, is a type of residential real estate that is a self-contained living space that is typically one story high and affixed to a building. These general buildings go by numerous names; a list is below. The housing tenure of flats also varies greatly, from large-scale public housing to owner occupancy within what is officially a condominium (strata title or commonhold) to tenants renting from a private landlord (see leasehold estate). The term "apartment" is more frequently used in professional real estate and architectural circles in the UK than in other contexts, where "flat" is more frequently—though not always—used to refer to an apartment with a single level (thus, a "flat" apartment).
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Answer:
The amount of the Depletion Expense recognized for 2018 would be 240,000
Explanation:
In order to calculate the The amount of the Depletion Expense recognized for 2018, we have to calculate first the depletion expense per ton.
Hence, Depletion expense per ton = $1,600,000/400,000 = 4
Therefore, if the Depletion expense per ton is 4, and during 2018 60,000 tons of granits were sold then the Depletion expense to be recognized for 2018 will be=60,000*4
= $240,000. Amount of the Depletion Expense recognized for 2018
Answer:
Profit : $297,000
Explanation:
Revenue is the earnings generated by a business by selling products and services. Expenses are the cost incurred in the process of generating revenue for the business.
A business will make profits if revenue exceeds expenses.
In this case, the revenue ($895,000) exceeds expenses($598,000). Therefore, the business will make a profit.
The profit will be revenue minus expenses
=$895,000 -$598,000
=$297,000
Debit withdrawals; credit cash is the correct answer.
<h3>What are drawings in accounting?</h3>
- A drawing bank is not in and of itself a bank account.
- Drawing in accounts are the records kept by a company owner or auditor that show how much cash has been taken by business owners.
- These are transfers made for personal use rather than for the profit of the business, yet they are governed in a way that employee earnings are not.
- Because these transfers must be offset against the owner's equity, accurate records must be maintained.
- A separate drawings directly deals with it simpler to keep track of these actions and balance the books at the conclusion of every fiscal year when you need to know how to end your drawings account.
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