Ask question

Ask question

All categories

3 years ago

7

A person who is highly knowledgeable or skilled in a particular domain, such as physics, anesthesiology, or teaching is best des

cribed as a(n)

1 answer:

kaheart [24]3 years ago

4 0

Expert in this field

You might be interested in

Fashion, Inc. had a Retained Earnings balance of $16,000 at December 31, 2021. The company had an average income of $6,500 over

avanturin [10]

Answer:

Total amount of dividends paid over the last three years is $20500

Explanation:

The net income of the company is either retained in the company or paid out as dividends. To calculate the value of the ending retained earnings, we use the following formula,

Ending balance = Beginning balance + Net Income - Dividends

We first need to calculate the total net income for the 3 year period. The total net income for the 3 year period is, 3 * 6500 = $19500

Plugging in the available values for the ending and beginning balance of retained earnings and net income, we can calculate the value of total dividends paid for the three year period.

15000 = 16000 + 19500 - Dividends

Dividends = 35500 - 15000

Dividends = $20500

4 0

3 years ago

Equipment was acquired on January 1, 2021, for $33,000 with an estimated four-year life and $2,000 residual value. The company u

Lostsunrise [7]

Answer:

Gain= $850

Explanation:

Giving the following information:

Purchase price= $33,000

Useful life= 4 years

Residual value= $2,000

Sale= $10,600.

<u>First, we need to calculate the annual depreciation:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (33,000 - 2,000)/4= $7,750

<u>Now, we can calculate the accumulated depreciation:</u>

Accumulated depreciation= 7,750*3= $23,250

<u>To calculate the gain or loss, we need to use the following formula:</u>

Gain/loss= selling price - book value

Book value= purchase price - accumulated depreciation

Book value= 33,000 - 23,250= $9,750

Gain/loss= 10,600 - 9,750

Gain= $850

4 0

3 years ago

Annual depreciation rates are (a) buildings (4%) (b) equipment (10%). Salvage value is estimated to be 10% of cost.

GrogVix [38]

Answer:

depreciation expense 5,800 debit

acc dep - building 4,320 credit

acc dep - equipment 1,480 credit

<u>Missing information</u>

GRECO RESORT TRIAL BALANCE AUGUST 31, 2014

Buildings 120,000 Equipment 16,000

Explanation:

First, calcualte the depreciable amount:

cost less salvage value:

120,000 - 10% = 120,000 * (1 - 0.1) = 108,000

Now we multiply this by the depreciation rate which represent 1/useful life

108,000 x 4% = 108,000 x 0.04 = 4,320

We do the same with the equipment

16,000* (1 - 0.1) = 14,800 amount subject to depreciation

14,800 * 10% = 14,800 x 0.1 = 1,480

he adjusting entry will debit the depreciation expense and increase the accumulated depreciation of eahc asset

6 0

3 years ago

While business plans are designed to change, a company’s mission statement should remain the same.

bogdanovich [222]

Answer:

I believe that the answer would be true

Explanation:

4 0

3 years ago

Which of the following is an assumption of the decision-making process followed by consumers to maximize utility? rev: 04_09_201

kari74 [83]

Answer:

The correct answer is: The consumer considers the prices of the products.

Explanation:

When taking the decision regarding how to maximize utility the consumers will consider the prices of the products. The consumer will be able to maximize utility at the point where the marginal utility of money spent on each commodity is equal.

We can represent it as,

$\frac{MU\ of\ good\ A}{Price\ of\ good\ A} = \frac{MU\ of\ good\ B}{Price\ of\ good\ B}$

7 0

3 years ago