Answer: $7,000
Explanation:
From the question, we are informed that IP Company has a preliminary cash balance of $25,000 and an agreement with the bank that it will keep a minimum balance of $20,000 and that IP Company has a beginning loan balance of $12,000.
The ending loan balance will be:
= $20,000 + $12,000 - $25,000
= $32,000 - $25,000
= $7,000
Answer:
depletion expense recognize over the first year: 400,000 dollars
Explanation:
it cost 2,500,000 the right to extract 10,000 tons
To obtain therate we divide the cost over the expected tons of materials
rate per ton: 2,500,000 / 10,000 = 250 dollars
Now we calculate the depletion based on the amount extracted on the first year:
<em>first year extractions: </em>1,600 tons
depletion expense: 1,600 tons x 250 dollars = <em>400,000</em>
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Answer:
Option A
Explanation:
- Debit is for increasing expenses and assets
- Where as credit decreases them.
As per Newtons third law every action has a equal and opposite reaction
- So every debit have a equal credit in trial balance.
Opt A is correct
Answer:
Direct labor time (efficiency) variance= $2,080 unfavorable
Explanation:
Giving the following information:
Standard= 3 hours of direct labor per unit
The standard labor cost is $13 per hour.
During August, Hassock produced 9,000 units and used 27,160 hours
<u>To calculate the direct labor efficiency variance, we need to use the following formula:</u>
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (3*9,000 - 27,160)*13
Direct labor time (efficiency) variance= $2,080 unfavorable
Answer:
The above statement is true .
Explanation:
It is true , when a company take decision to move its operations out of the country it will affect its employees , owners , suppliers , distributors , even its customers .
It is because, when company move out , the employees working in it loss their jobs . They become jobless. The suppliers loss their customer. The distributor also loss their customer. The customer may like the product of the company and if the company moves out then they do not get their product which they like. The owner may also suffer loss,as its possible that the product do not gain popularity anywhere else . The company may loss its share. It also effect the economy , as a good earning company always serves to a country .