Answer:
b. decrease in the stock of capital due to wear and tear.
Explanation:
Depreciation is a reduction in the value of an asset over time, due in particular to wear and tear.
Depreciation is the gradual decrease in the economic value of the capital stock of a firm, nation or other entity, either through physical depreciation, obsolescence or changes in the demand for the services of the capital in question.
The monetary value of an asset decreases over time due to use, wear and tear or obsolescence. This decrease is measured as depreciation. ... Machinery, equipment, currency are some examples of assets that are likely to depreciate over a specific period of time.
Answer:
$ 5,937.00
Explanation:
The credit to retained earnings in the year would be the net income for the year which is computed as sales and rent revenue added together minus salaries and wages expense,depreciation expense , utilities expense recorded in the year.
Net income=$13,108+$2,756-$6,639-$1,610-$1,678=$ 5,937.00
All in all,the credit to retained earnings would be $ 5,937.00
The net income is the amount by which the overall retained earnings would increase in the current year
Answer: higher; lower
Explanation:
From the question, we are informed that three firms are currently producing and selling in a market. When one of the three firms exits the market, economists expect that there will be a rise in the equilibrium price while there will be a reduction in the equilibrium quantity.
This is because when one producer leaves, there will be less supply of the good that is sold, this will eventually lead to a rise in price.
Answer:
d) $4.00.
Explanation:
Net Income = $34,000
Common shares outstanding = 8,500 shares
Earning Per share = Net Income for the period / Common shares outstanding
Earning Per share = $34,000 / 8,500 shares
Earning Per share = $4 per share
The company's earnings per share is $4.
Divided declared has nothing to do in the calculation of Earning per share because we just measure the earning against each share which involves net income and number of outstanding shares only.
Based on the owner investments, the net income and the owner withdrawals, the ending balance in the owner's capital account is $13,700
<h3>What is the ending balance in owner's capital?</h3>
The ending balance in the owner's capital can be found as:
= Beginning owner investments + Net income during the period - Owner withdrawals
Solving for the ending balance gives:
= 4,000 + 10,000 - 300
= 14,000 - 300
= $13,700
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