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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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Jorge purchased a copyright for use in his business in the current year. The purchase occurred on July 15th and the purchase pri
ZanzabumX [31]

Answer:

total amortization expense = $5400

so correct option is C) $5,400

Explanation:

given data

purchase price = $67,500

time period = 75 months

months  = 6th

to find out

total amortization expense

solution

we get here total amortization expense that is express as

total amortization expense = \frac{purchase\ price}{time\ period} ×months  ...............1

put her value we get

total amortization expense = \frac{67500}{75} × 6

total amortization expense = $5400

so correct option is C) $5,400

5 0
3 years ago
Financial institutions such as commercial banks, bond mutual funds, insurance companies, and pension funds maintain large portfo
inessss [21]

Answer:

The correct answer is letter "B": unfavorably; increases.

Explanation:

As a measure to control inflation in the economy, the Federal Reserve (Fed) tends to <em>increase </em>the interest rate. This to have banks request fewer loans from the central bank which will result in offering fewer credits to individuals. If people have fewer sources of debt, the possibilities that an economic bubble -<em>continuous increase in price due to continuous increase in demand</em>- appear decreases.

However, if people have fewer sources of debt, private investment decreases, causing an <em>unfavorable </em>panorama for financial institutions offering large portfolios of assets.

8 0
3 years ago
Should eyewitness testimony be allowed in the courtroom? Write at least three paragraphs discussing your position.
Andrews [41]
(Paragraph 1) Should eyewitness testimony be allowed in the courtroom? No but at the same time yes. There are many reasons why they should but shouldn't. It is a risk to their safety, some eyewitnesses are not liable, they could be paid off but at the same time their testimony could help win a case. (Paragraph 2) Depending on a crime, the eyewitness safety could be in danger. If the case was against a member of a gang or mafia. They could send someone after that witness. This is reason why we have the Witness Protection Program. If they testify they put their lives at risk. (Paragraph 3) Having a witness is a key thing to have. If you have a witness you are the one who most likely the one to win the case. In some cases you could have problems with the witness not being liable, getting paid off to not say anything or to lie. Or in most cases if they are confused they will not have them testify. Or they aren't straight on the details and keep changing the story that usually means they are lying on what they saw. Note: This is a summary. Add more and edit it to make it sound like something you would type.
7 0
3 years ago
When might adding an additional employee be bad for a small business?
Anarel [89]

Answer:

If the demand for the product or services goes down

Explanation:

A reduction in demand for a good or service results in a decline in its price. As per the law of supply and demand, a decline in demand while holding other factors constant pushing the equilibrium price down. Reduced prices mean that the revenues obtained from the sales of the product or service will decline.

Hiring an extra worker when the demand is low will lead to losses. Low demand causes low prices, which implies that the cost of the new employee will be greater than the benefits obtained from the worker.  A reduction in prices will mean that the marginal product of labor will be lower than the cost of labor.

3 0
3 years ago
A good economic model is more likely to address a:
mars1129 [50]

Answer:

Option D is correct one.

<u>Positive statement because a good model can be tested with evidence.</u>

Explanation:

Positive statement:

It is essentially goal and reality based. Also, positive explanations are have to demonstrate or invalidated however can't right them. Positive financial aspects manages the realities and circumstances and logical results connections which incorporates portrayals, hypothesis advancement and hypothesis testing.  

Normative Statement:  

Normative explanations are abstract and the substance are esteem based. The announcements are fundamentally assessment based so they can't be tried. Regulating explanation incorporates the worth decisions with respect to that whether the economy must resemble or the suggestion of specific approach to get an ideal objective.  

Economic Model:  

Financial displaying alludes to an objective, outline layout to help systematise the investigator's view. A monetary model can't delineate reality precisely in light of the fact that it would be too hard to even think about understanding. A model is an improvement that permits the financial specialist to perceive what is genuinely significant. Since great financial model ought to anticipate circumstances and logical results relationship and it hast to be tried with checked truth, great monetary model more probable tended to positive proclamation.

8 0
3 years ago
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