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3 years ago

5

The difference between the economic impact upon a municipality by a convention center as opposed to a stadium or arena built for

housing sporting events is

1 answer:

NeX [460]3 years ago

5 0

Increased presence of visitor spending

I hope that helped

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Clever Computers has a five-day workweek and pays the office staff $3,050 each week. If the month ends on a Thursday, the adjust

Oksana_A [137]

Answer: The correct answer is b.$3,050.

Explanation: Clever Computers has a five-day workweek and pays $3,050 each week. The payment will only occur at the end of the workweek when the staff have earned the wages. However, the month ended on Thursday, meaning that the staff have only worked for four-day workweek. They have therefore earned $2,440 (4/5*$3,050) at the end of the month but that payment is not due because the 5-day workweek has not been completed. The complete journals the company would raise would be Debit Wages (overhead) $2,440, Debit Wages receivable $610 and Cr Wages payable $3,050.

When it is next month after the five-day workweek has been completed, the company would Dr Wages Payable $3,050 and Credit Cash $3,050 to make the payment.

4 0

3 years ago

On January 1, Year 1, Frost Co. entered into a 2-year lease agreement with Ananz Co. to lease a new computer. The lease term beg

satela [25.4K]

Answer:

Frost (Lessee) and Ananz (Lessor)

The circumstance that would require Frost to classify and account for the arrangement as a finance lease is:

c. The economic life of the computers is three years.

Explanation:

a) Data:

Annual lease payments = $8,000

Present value of the minimum lease payments = $13,000

Fair value of the computer = $14,000

The economic life of the computers = 3 years

The lease period = 2 years

b) One of the conditions for classifying the lease arrangement as a finance lease is that the lease term of 2 years forms a significant part of the asset's useful life of 3 years. Other conditions include:

Firstly, ownership of the asset is transferred to the lessee at the end of the lease term. The second condition is that the lessee can purchase the asset below its fair value.

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3 years ago

If Kindle e-readers and Nook e-readers are substitutes, a higher price for Nooks would result in a(n) ______.

lara31 [8.8K]

Answer: a) increase in the demand for Kindles.

Explanation: the substitution effect for substitute goods gives that, if the price of good A rises, the demand for good B rises. Since a substitute good is a good that can be used in place of another, they are goods that a consumer perceives as similar or are comparable, in such a way that having more of one good causes the consumer to desire less of the other good. From the viewpoint of price, and given that consumers always prefer to spend less in instances where two goods are substitutes, it then means that Kindle can be used and preferred in place of Nooks given that the price of Nooks had gone up. Therefore, increasing the price of Nooks causes a corresponding increase in the demand for Kindles.

3 0

3 years ago

At December 31, 20X3, before recognizing any depreciation expense for 20X3, X Company has a machine with an original cost of $36

shutvik [7]

Answer:

If X Company uses the units of production method for calculating depreciation, depreciation expense in 20X3 will be (rounded):

$45000

Explanation:

Cost 360000

Accum. Depre 90000

Usefull life 7

Produce 1 20000

Produce 2 10000

Produce 3 50000

80000

Deprec=cost/unit

Depre=360000/80000

Depre= 4,5

Produce 2012 20000 4,5 90000

Produce 2013 10000 4,5 45000

Produce rest 50000 4,5 225000

80000 4,5 360000

7 0

3 years ago

On January 1, 2018, David Mest Communications granted restricted stock units (RSUs) representing 25 million of its $1 par common

natima [27]

Answer:

See the explanation below.

Explanation:

Total compensation expenses = 25 million * 15 = $375 million

1. On December 31, 2018.

Compensation expenses = $375 million / 3 = $125 million

Journal entries will be as follows:

<u>Details Dr ($'Million) Cr ($'Million) </u>

Compensation expenses 125

Paid-in Capital - Restricted stock 125

<u><em>To record the compensation expenses for 2018. </em></u>

2. On December 31, 2019.

Compensation expenses = [$375 million * 96% * (2/3)] - $125 million = $115 million

Journal entries will be as follows:

<u>Details Dr ($'Million) Cr ($'Million) </u>

Compensation expenses 115

Paid-in Capital - Restricted stock 115

<u><em>To record the compensation expenses for 2019. </em></u>

3. On December 31, 2020.

Compensation expenses = ($375 million * 96%) - $125 million - $115 million = $120 million

Journal entries will be as follows:

<u>Details Dr ($'Million) Cr ($'Million) </u>

Compensation expenses 120

Paid-in Capital - Restricted stock 120

<u><em>To record the compensation expenses for 2020. </em></u>

5 0

3 years ago