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3 years ago

Accumulated Depreciation and Depreciation Expense are classified, respectively, as

Business

1 answer:

Elena L [17]3 years ago

8 0

Answer:

C. contra asset, expense

Explanation:

The depreciation is an expenditure indicating a decline in the value of the fixed assets due to wear and tear, obsolescence, use, time period, etc. It's shown on the income statement debit side This is a non-cash item which has no effect on the cash balance.

Whereas the accumulated depreciation is an contra asset which reduce the asset balance. It records the depreciation in arrears and reported in the asset side of the balance sheet

Equipment (XXXXX)

Less - Accumulated depreciation (XXXXX)

Net value of equipment (XXXXX)

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What-if analysis works forward from known or assumed conditions?

marysya [2.9K]

<span>This is, in fact, true. What-if analysis is done by altering values in cells to see what outcomes are produced due to the changes. All data is kept on a worksheet to analyze. There are three types of What-if Analysis tools available in Excel, Data tables, Goal Seek, and Scenarios.</span>

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3 years ago

Along any downward sloping straight-line demand curve: Group of answer choices both the price elasticity and slope are constant.

vitfil [10]

Answer:

the price elasticity varies, but the slope is constant

Explanation:

The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

At the midpoint of the demand curve, demand is usually unit elastic. Above the midpoint of the demand curve, demand is elastic and blow the midpoint, demand is inelastic

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

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3 years ago

Merchant Company had the following foreign currency transactions: On November 1, 20X6, Merchant sold goods to a company located

vazorg [7]

Answer

The answer and procedures of the exercise are attached in the images below.

Explanation

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a 2 sheets with the formulas indications.

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3 years ago

Powers Corporation has provided the following information for its most recent month of operation: sales $16,000; ending inventor

Elza [17]

Answer:

The beginning inventory was $2000.

Explanation:

First, we need to calculate the Cost of Goods sold. The cost of Goods sold is the difference between the Sales and the gross profit. Thus, the cost of goods sold is 16000 - 10000 = $6000

The value of the beginning inventory for the period can be calculated by using the Cost of Goods sold formula. The cost of goods sold is calculated as:

Cost of goods sold = Beginning inventory + Purchases - Closing Inventory

Plugging in the available figures in the formula,

6000 = Beginning Inventory + 8000 - 4000

6000 = Beginning inventory + 4000

6000 - 4000 = Beginning Inventory

Beginning Inventory = $2000

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3 years ago

Before setting your prices, it's wise to

natulia [17]

Answer:

<em>Before setting your prices, it's wise to research industry standards- B.</em>

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4 years ago