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balandron [24]
3 years ago
15

Four students are storing this fact: "europeans first settled at st. augustine, florida, in 1565." which student is probably goi

ng to have the most difficult time retrieving the information from long-term memory a few days later?
Business
1 answer:
Oksi-84 [34.3K]3 years ago
3 0
The student who is probably going to have the most difficult time retrieving the information from long-term memory a few days later would be: “Alexander who repeats the fact to himself 10 times in a row.”  

<span>Aside from Alexander, all other students are using visual representation or other facts to help them remember the original fact.  The method of memorization Alexander doing is very prone to be overlooked since he is storing it word by word rather than trying to associate it with other easier things to remember.</span>

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Acquisition costs; journal entries
Aleks [24]

Answer:

Journal entries for the transactions are given below

Explanation:

1. Development of new product

                                                               DEBIT     CREDIT

Research and development                 $24,000

Cash                                                                         $24,000

2. Paid the plaintiff for losing patent

                                                                DEBIT     CREDIT

Legal fee (expense)                             $8,000

Cash                                                                         $8,000

3. Bought Equipment and signed non-interest bearing note

                                                                DEBIT     CREDIT

Equipment Cash price                          $37,000

Discount on note payable                    $5,000

Cash paid                                                                  $18,000

Note payable                                                            $24,000

4. Installed sprinkler system

                                                                DEBIT     CREDIT

Sprinkler system                                     $40,000

Cash                                                                         $40,000

5. Plaintiff paid for successful infringement  suit on its patent

                                                                DEBIT     CREDIT

Patent                                                     $24,000

Cash                                                                         $24,000

6. Bought New equipment and traded old one

                                                                DEBIT     CREDIT

New Equipment                                    $13,600

Accumulated depreciation                   $6,800

Loss on sale                                           $3,400

Old Equipment                                                        $13,400

Cash                                                                         $10,400

Working:

Accumulated depreciation = Original Cost - book value

Accumulated depreciation = $13,400 - $6,600

Accumulated depreciation = $6,800                                                      

7 0
3 years ago
Reporting an Income Statement, Reporting a Statement of Retained Earnings, Reporting a Balance Sheet and Recording Closing Journ
Ber [7]

Answer and Explanation:

The Journal entry is shown below:-

1. Sales Revenue Dr, $42,030

   Rent Revenue $300

        To Salaries and Wages Expense $21,600

        To Depreciation Expense $1,300

       To Utilities Expense $4,220

       To Insurance Expense $1,400

        To Rent Expense $6,000

       To Income Tax Expense $2,900

       To Retained Earnings $4,910

(Being closing of revenues and expenses is recorded)

2. Retained Earnings Dr, $300

         To Dividends $300

(Being closing of dividend is recorded)

4 0
3 years ago
Identify the type of process in business that includes purchasing materials and supplies used in manufacturing, managing invento
Sergio [31]

Answer: (D) Support process

Explanation:

 The support process is one of the type of primary process that helps in determining the main core functions and also the operations such as communication, accounting, managing and maintenance of an organization.

The main purpose of the support process is to manage the development and the configuration management in an organization.

According to the given question, the support process is refers to the business process which include the purchasing the various types of materials that is used in the manufacturing purpose such as installations and also managing the inventory system.  

 Therefore, Option (D) is correct answer.

4 0
3 years ago
The following account balances were taken from the adjusted trial balance of Kendall Company: Revenues $ 22,400 Operating Expens
dsp73

Answer:

Retained earnings-Closing = $19,900

Explanation:

Given that,

Revenues = $22,400

Operating Expenses = $15,000

Dividends = $4,500

Retained Earnings(opening) = $17,000

Net Income = Revenues - Operating expenses

                    = $ 22,400 - $15,000

                    = $7,400

Statement of Retained Earnings:

Retained earnings-Closing:

= Retained earnings -opening + Net Income - Dividends

=  $17,000 + $7,400 - $4,500

= $19,900

7 0
3 years ago
At the beginning of 2020, Concord Company acquired a mine for $3,251,600. Of this amount, $124,000 was ascribed to the land valu
Sav [38]

Answer:

A. $737,520

B. $530,320

Explanation:

a. Computation for the total amount of depletion for 2020.

First step is to calculate the Depletion Rate

Depletion Rate = ($3,251,600 - $124,000 + $49,600 + $210,800)/12,100,000

Depletion Rate= $3,388,000/ 12,100,000

Depletion Rate= 0.28

Now let calculate the total amount of depletion for 2020.

2020 Total amount of depletion= 0.28 × $2,634,000

2020 Total amount of depletion= $737,520

Therefore the total amount of depletion for 2020 is $737,520

B. Computation for the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2020.

Expense amount charged= ($737,520/$2,634,000)* 1,894,000

Expense amount charged=0.28 *1,894,000

Expense amount charged=$530,320

Therefore the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2020 is $530,320

7 0
3 years ago
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