Answer:
Dr Depletion expense 66,640
Cr Accumulated depletion 66,640
Explanation:
Coronado Corporation
Journal entry
Dr Depletion expense 66,640
Cr Accumulated depletion 66,640
Total Cost = $448,000+$112,000 =
$ 560,000
Depletion per ton
= ($560,000-$179,200)/4,480
= 85 per ton
Depletion first year = 784*85 = 66,640
Answer:a The corporation can make a public issue of shares to obtain capital to make the purchase. ( B) The accountant will open a temporary account called the business purchase account and the vendor account to record the purchase
Explanation:
a. When a corporation want to purchase a existing business ,the purchase price may be paid either totally in cash or partly in cash and partly in shares or in some cases totally in shares. The method of payment is arranged between the corporation and the existing business. If the company makes a public issue of shares to raise funds for the purpose of acquisition of the business. A statement in the prospectus to issue the shares that the vendor will be paid either totally or partly in shares boost the investors confidence in the business because they see it as a sign that the vendor has faith in the future prospect of the business under the new ownership. The shares allotted as consideration for the purchase becomes part of the issued capital of the company.
b. The temporary account and the vendor account would include the following
1.Dr the business purchase account
Cr the vendor account
With the agreed purchase price,and the allotment of shares or debenture as part of the purchase price
2. Dr the asset, including Goodwill if any to their respective account,
Cr the total value of asset taken over in one amount to the business purchase account
3. Dr the total value of liabilities taken over in one amount to the business purchase account
Cr the liabilities to their respective account
4. Dr vendor account
Cr the corporation capital account both with the purchase price when paid
The answer is England and Canada. They have the tip included in the bill.
Answer:
The answer is stated below:
Explanation:
Taking the highest and second lowest cost and miles driven as:
Cost = Highest - Lowest
Cost = $15,000 - $14,150
Cost = $850
Miles Driven = Highest - Lowest
Miles driven = 8,500 - 8,000
Miles Driven = 500
So,
= Cost / Miles driven
= $850 / 500
= $1.70
Total Cost would be 15,000 and 13,500
So, computing the variable cost as:
Variable cost of highest cost (VC) = Miles driven of $15,000 cost × $1.70
VC = 8,500× $1.70
VC = $14,450
Variable cost of lowest cost (VC) = Miles driven of $13,500 cost × $1.70
VC = 7,500× $1.70
VC = $12,750
Computing fixed cost as:
Fixed cost of highest cost = Total cost - VC
= $15,000 - $14,450
= $550
Fixed cost of lowest cost = Total cost - VC
= $13,500 - $12,750
= $750
Answer:
People often buy fewer goods and services
Explanation:
This is the only option that makes sense for the question. Economic slow down is marked by the movement of money slowing down. As the movement money slows people buyer fewer goods and services.