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statuscvo [17]
2 years ago
15

Saskatchewan Forestry Company purchased a timber tract for $225,000 and estimates that it will be depleted evenly over its 10-ye

ar useful life with no residual value. Prepare the journal entry that would be recorded if 10 percent of the total timber is cut and placed into inventory during the current year
Business
1 answer:
ale4655 [162]2 years ago
5 0

Answer:

generally you need to determine the cost per unit, but in this case you are given a percentage of depletion = 10% x $225,000 = $22,500  which determines the inventory value (or depletion expense if the timber is sold) during the year.

the journal entry should be:

December 31, 20xx

Dr Timber inventory 22,500

    Cr Accumulated depletion - timber tract 22,500

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A decrease in interest rates will:__________.
Allisa [31]

Answer:

c. not affect the bond's duration.

Explanation:

The bond duration measures the sensitivity of a bond's price to change in the interest rate. It is a linear measure of those years in which the repayment of the principal is due. the change in interest rate does not affect the duration of the bond.

On the other hand decrease in interest rate would increase the bond's PV and Price of the bond as well.

Payment frequency would not change with the decrease interest rate.

The Coupon rate will also remain the same whether the interest rate increases or decreases.

5 0
2 years ago
A travel agency discovers that it has been charged for payments to a print shop drawn on checks written by an unknown third part
trasher [3.6K]

Answer:

Forgery or Alteration Coverage Form.

Explanation:

The travel agency loss would be covered under Forgery or Alteration coverage form.

Under Commercial Crime insuring agreement, It insures an individual or business against the forgery or alteration of financial instruments e.g promissory notes, drafts, and checks with respect to payment of a sum of money that was made or drawn by the insured or anyone acting on his/her behalf such as next of kin.

8 0
2 years ago
Read 2 more answers
A Golf company detemined that the budgeted cost of producing a product is $30 per unit. On June 1, there were 60,000 units on ha
iogann1982 [59]

Answer:

Budgeted cost of goods sold = $7,650,000

Explanation:

Computation table for budgeted cost of goods sold

<u>Particular                                          Amount </u>

Total Sales                                 225,000

Add: Desired stock in hand         90,000

<u>Less:</u><u> Beginning stock             60,000   </u>

<u>Budgeted production                 255,000 </u>

Budgeted cost of goods sold = 255,000 x $30

Budgeted cost of goods sold = $7,650,000

6 0
2 years ago
One major difference between low-income children who participated in the high scope preschool project and those that did not par
Ganezh [65]

One major difference between low-income children who participated in the high-scope preschool project and those that did not participate was that at the age of 27 years, <u>those who practiced were more likely to be married and own their house</u>.

The Perry Preschool project set up the lasting human and economic price of early life schooling and caused the establishment of the HighScope education studies foundation and one of the first early formative years applications in the u.s. intentionally designed to increase faculty fulfillment for preschool.

Outcomes of the Perry Preschool program consist of: better school fulfillment; extended excessive college graduation prices amongst women; higher employment charges; better profits; and notably decrease crime fees. There were no lasting profits on checks of intellectual performance (IQ exams).

The HighScope educational research foundation research strategies for early formative years of education are primarily based on the methods of the 1962 Perry Preschool observation. It was founded in 1970 with the aid of psychologist David Weikart.

Learn more about the Perry Preschool program here brainly.com/question/25630852

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3 0
1 year ago
On December 31, 2020, McDaniel Company had $1,200,000 of short-term debt in the form of notes payable due February 2, 2021. On J
icang [17]

Answer:

Current Liabilities:Notes Payable 250,000

Long-term Debt:Notes Payable 950,000

Explanation:

Calculation to Show how the $1,200,000 of short-term debt should be presented on the December 31, 2017, balance sheet.

Hattie McDaniel Company

Partial Balance Sheet

December 31, 2017

CURRENT LIABILITIES

Notes Payable 250,000

($1,200,000-$950,000)

LONG-TERM DEBT

Notes Payable 950,000

Therefore how the $1,200,000 of short-term debt should be presented on the December 31, 2017, balance sheet is:

Current Liabilities:Notes Payable 250,000

Long-term Debt:Notes Payable 950,000

4 0
3 years ago
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