Answer:
$360,000
Explanation:
Net sales : $2,500,000
Cost of goods sold : ($1,300,000)
Gross profit : $ 1,200,000
Interest expense : ($50,000)
Net profit : $ 1, 150,000
Retained earning: ($30,000)
Dividends paid : ($300,000)
Tax at 40%: =40% * $1,150,000
($460,000)
Depreciation expense : $360,000
Answer:
The Department of the Treasury manages Federal finances by collecting taxes and paying bills and by managing currency, government accounts and public debt. The Department of the Treasury also enforces finance and tax laws.
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Answer:
Lies below its demand curve and is steeper than its demand curve.
Explanation:
The marginal revenue curve for a monopolist lies below the demand curve because of the quantity effect. The quantity effect refers to the fact that even a monopolist must lower its price if it wants to sell a larger quantity of goods or services.
The slope of the marginal revenue curve is steeper than the demand curve because it reflects the market power of the monopolist. Instead, the marginal revenue curve for a perfectly competitive firm (with 0 market power) is horizontal or perfectly elastic.
Answer:
Negative, since to purchase more of one good means giving up some of the other good.
Explanation:
A budget line illustrates the number of goods, consumers are able to buy with lower income. Thus the price of goods and customers income to be spent on goods determine the budget line.
The slope of the budget line measures the opportunity cost of consuming Commodity A forgetting Commodity B. In order to get more of Commodity A, the consumer will have reduce the consumption of Commodity B Forefeiting the opportunity to consume Commodity B is the true opportunity cost of Commodity A and this measured by the slope of the budget line.
The slope of the budget line shows the amount of a commodityB the consumer must forfeit to purchase one more unit of a commodity A and the slope is usually Negative.
Answer:
b) a debit to Depletion Expense for $175,000
Explanation:
The computation of the depletion expense is shown below:
Depletion expense = (Purchase of mining rights × current year mined tons of ore) ÷ (expected harvested tons of ore)
= ($500,000 × 350,000 tons) ÷ (1,000,000 tons)
= $175,000
So the journal entry would be
Depletion Expense A/c Dr $175,000
To Accumulated Depletion A/c $175,000
(Being the depletion expense is recorded)
