Answer:
Annual depreciation= $14,355
Explanation:
Giving the following information:
Original cost= $65,800
Number of units= 200
Salvage value= $2,000
During the first year, the band performs 45 concerts.
To calculate the annual depreciation under the units-of- production method, we need to use the following formula:
Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units operated
Annual depreciation= [(65,800 - 2,000)/200]*45
Annual depreciation= $14,355
Answer:
Quantity will rise, and the effect on price is ambiguous.
Explanation:
Music compact discs are normal goods. There is a positive relationship between the demand for the normal goods and the income of the consumers.
If the compact disc players become cheaper to produce then as a result all the producers start producing music compact discs and this will increase the supply of music compact disc. This will shift the supply curve rightwards.
And if the income of the music lovers increases then as a result the demand for music compact discs increases. This will shift the demand curve rightwards.
Therefore, these changes will increase the equilibrium quantity and the impact on equilibrium price is ambiguous because that will be dependent upon the magnitude of the shift of supply and demand curve.
Answer:
Cost of the inventory kept by Zephron Music is $3495
Explanation:
<u><em>Zephron Music purchased inventory for $4,400 and also paid a $260 freight bill</em></u>
Inventory $4660 (debit)
Trade Payable $ 4400 (credit)
Bank $260 (credit)
Recognise an Asset - Inventory and De-recognise asset - Bank
<u><em>Zephron Music returned 25% of the goods to the seller, took a 1% purchase discount</em></u>
Trade Payable $1212
Inventory $1165 (credit)
Discount Received $47 (credit)
Therefore Inventory Balance = $4660-1165 = $3495
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Hope these help!!!
