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tresset_1 [31]
3 years ago
6

holds huge reserves of oil. Assume that at the end of 2017​, Amplify Petroleum​'s cost of oil reserves totaled $ 80 comma 000 co

mma 000​, representing 100 comma 000 comma 000 barrels of oil. Suppose Amplify Petroleum removed and sold 20 comma 000 comma 000 barrels of oil during 2018. Journalize depletion expense for 2018.
Business
1 answer:
ExtremeBDS [4]3 years ago
3 0
You could of solved it in the time u typed thai
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Nathan’s Athletic Apparel has 2,000 shares of 5%, $100 par value preferred stock the company issued at the beginning of 2017. Al
pochemuha

Answer:

1.

Preferred stock dividends to be paid in 2018 = $20000

Common stock dividends to be paid in 2018 = $2000

2.

Preferred stock dividends to be paid in 2018 = $10000

Common stock dividends to be paid in 2018 =  $12000

Explanation:

The preferred stock dividends are always paid before the common stock dividends.

Cumulative preferred stock is the stock which accumulates or accrues dividends if the dividends are partially paid or not paid at all in a particular year. These dividends are accrued and are required to be paid by the company whenever it declares dividends.

Non cumulative preferred stock does not accrue or accumulates dividends. Thus, if dividends are not paid in a particular year, the company has no obligation to pay these dividends ever in the future.

1.

If the preferred stock is assumed to be cumulative, then the dividends in arrears for 2017 will be paid in 2018 along with dividends for 2018 on preferred stock before paying the common stock holders.

Preferred stock dividend per year = 2000 * 100 * 0.05  

Preferred stock dividend per year = $10000

Preferred stock dividends to be paid in 2018 = 10000 + 10000 = $20000

Common stock dividends to be paid in 2018 = 22000 - 20000 = $2000

2.

If the preferred stock is assumed to be non cumulative, then the dividends in arrears for 2017 will not be paid in 2018. Only the dividends for 2018 on preferred stock will be paid before paying the common stock holders.

Preferred stock dividend per year = 2000 * 100 * 0.05  

Preferred stock dividend per year = $10000

Preferred stock dividends to be paid in 2018 = $10000

Common stock dividends to be paid in 2018 = 22000 - 10000 = $12000

3 0
3 years ago
Suppose a basket of goods and services has been selected to calculate the CPI and 2014 has been selected as the base year. In 20
Nina [5.8K]

Answer:Consumer Price Index (CPI) 2016 = 111.54

Explanation:

consumer price index is a measure of price change over a period of time in other words consumer price index is a measure of inflation. A number of good are selected and their prices are monitored each year in order to measured against the base year prices in order to determine  changes in the general price level.

The goods selected represent the spending patterns of the an average consumer in that economy or country. When the price of these goods rise over time when compared to the Basket Cost of the base year we can assume that there is a rise in the general price level

Base year = 2014

Basket's cost 2014= $52

Base cost 2016 = $58

Consumer Price index (CPI) 2016 = Basket costs 2016/base year Basket cost 2014.

Consumer Price index (CPI) 2016 = 58/52 = 1.115384615 x 100

Consumer Price Index (CPI) 2016 = 111.5384615

Consumer Price Index (CPI) 2016 = 111.54

5 0
3 years ago
Most licensed architects are members of which association? A. ACSA B. AIA C. NAAB D. NCARB E. NVOB
Rasek [7]

Answer: It is B. AlA

Explanation:ALA is open to all architects and professions related to architecture. Our members hold individual memberships and specialize in all types of architecture.

8 0
3 years ago
Presented below is information related to Novak Manufacturing Corporation.
svet-max [94.6K]

Answer:

A. Assets  Original   Salvage Depreciable  Depreciable   SL Depreciation

                   Cost        Value       value                  Life              Per Year

       A    $46,575      6,325       40,250                   10               $4,025

       B    $38,640      5,520       33,120                    9               $3,680

       C    $41,400      4,140         37,260                   9               $4,140

       D    $21,850      1,725         20,125                   7                $2,875

       E     <u>$27,025</u>     <u>2,875</u>        <u>24,150</u>                   6                 <u>$4,025</u>

   Total   <u>$175,490</u>   <u>20,585</u>     <u>154,905</u>                                   <u>$18,745</u>

Composite rate of Depreciation = Total Depreciation per year/Total Original Cost

Composite rate of Depreciation = 18745/175490

Composite rate of Depreciation = 0.106815

Composite rate of Depreciation = 10.68%

B.   Adjusting entry                                   Debit     Credit

Depreciation Expense-Plant Asset        $18,745

Accumulated Depreciation-Plant Asset                $18,745

c. Journal Entry                                           Debit       Credit

Cash                                                            $5,520

Accumulated Depreciation-Plant Assets  $16,330

Asset D                                                                         $21,850

(Record Sale of asset D)

5 0
3 years ago
As the number of sellers in an oligopoly becomes very large, a. the price effect is magnified. b. the quantity of output approac
Charra [1.4K]

As the number of sellers in an oligopoly becomes very large, the quantity of output approaches the socially efficient quantity.

An Oligopoly is when there are few large firms operating in an industry.  

Characteristics of an oligopoly:

  1. Firms set the price for their product
  2. Products are differentiated
  3. The demand curve is downward sloping
  4. There is a high barrier to entry and exit of firms into the industry.

As the number of firms increase in an oligopoly, the quantity and price approaches what would exist in a perfect competition. As the number of firms in an oligopoly decreases, the price and quantity produces approaches that would be exist in a monopoly.

To learn more about oligopolies, please check: brainly.com/question/14136347

7 0
2 years ago
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