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statuscvo [17]
3 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]3 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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Lew's has 500 bonds outstanding with a price quote of 98.6. There are also 12,000 shares of common stock selling for $47 a share
wel

Answer:

$963300

Explanation:

Number of bonds = 500

Quote price of bond = 98.6

number of common stock shares = 12000

price of common stock share = $47

Number of preferred stock shares = 5000

price of preferred stock shares = $70

Calculate the weight of Equity

market value of bonds = 500 * 98.6 = $49300

market value of common stock = 12000 * 47 = $564000

market value of preferred stock = 5000 * 70 = $350000

therefore the weight of equity of Lew's

= value of bonds + value of common stock + value of preferred stock

= 49300 + 564000 + 350000 = $963300

3 0
3 years ago
Para que nos sirve la administración?
Yuri [45]

Answer:

La administración permite un uso más eficiente de los recursos mediante diferentes técnicas o herramientas. ... Genera información y conocimiento para optimizar la utilización de los recursos. Reduce costos, al favorecer la eficiencia de la organización.

Explanation:

7 0
3 years ago
Firms colluding: a. Earn short run normal profits. B. Increase competition by firms through advances in technology. C. Earn shor
IgorLugansk [536]

Answer:

D. Earn short run economic profits

Explanation:

A cartel can be defined as a formal agreement reached (collusion) in an oligopolistic industry between two or more business firms that are saddled with the responsibility of producing goods and services in order to make price and output decisions such as price regulation, total level of output or supply, allocation of customers, market shares, territory allocation, division of profits, collusive bidding etc.

This ultimately implies that, when a group of independent firms in an oligopolistic industry collude by reaching a formal agreement to regulate supply, as well as manipulate or regulate prices, they do so to increase their profits and market dominance.

Hence, firms colluding earn short run economic profits.

4 0
3 years ago
Kate is an accrual basis, calendar-year taxpayer. On November 1, 2018, Kate leased out a building for $4,500 a month. On that da
Anni [7]

Answer:

Option (C) is correct.

Explanation:

Given that,

On November 1, 2018

Kate leased out a building = $4,500 a month

Received 7 months rental income = $31,500

Kate include on her 2018 tax return as a result of this transaction:

= Value of leasing out a building for a month × 2

= $4500 × 2

= $9,000

Therefore, the Kate include on her 2014 tax return as a result of this transaction = $ 9000

8 0
4 years ago
Compare and contrast different types of source documents
suter [353]

Answer:

Bank Statements.

Payroll Reports.

Invoices.

Leases & Contracts.

Check Registers.

Purchase Orders.

Deposit Slips – not included on a bank statement.

Check Copies – not included on a bank statement

Explanation:

4 0
3 years ago
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