I guess the correct answer is An increase in the costs of exploration and drilling for oil
A leftward shift of the supply curve for oil in the United States is most likely to result from an increase in the costs of exploration and drilling for oil.
Answer:
1.
d. $19610 debit
Option D is the correct answer.
2.
Cash 1480 Debit
Service Revenue 1480 Credit
Explanation:
1.
The balance in the accounts receivable account can be calculated as follows,
Closing Balance = Opening balance + Credit sales - Cash Received from Accounts Receivable
Closing Balance of Accounts receivable at 31 December 2022 will be,
Closing Balance = 12770 + 34200 - 27360
Closing Balance = $19610 debit
The balance is debit because accounts receivables is an asset and the normal balance for asset account is debit.
2.
The entry to record the transaction is made in the answer part.
Answer:
$0
Explanation:
Computer was sold during the same year which it is purchased. No depreciation is allowed in such a case.
In other word, there would be $0 total cost recovery as there is no Depreciation Expense given and in the same year the computer is given to Thomas son so no Depreciation Is allowed in this case.
Answer:
the present value of this growing perpetuity is $83,692.31
Explanation:
The computation of the present value of this growing perpetuity is shown below:
present value of this growing perpetuity is
= Payment at end of this year ÷ (Discount rate - Growth rate)
= $2,176 ÷ (0.09-0.034)
= $83,692.31
Hence, the present value of this growing perpetuity is $83,692.31
