Answer:
The assets and liabilities acquired in a consolidation process are recorded at their fair market value. If the price paid during the consolidation process is lower than the fair market value of the assets - liabilities, then an ordinary gain on bargain purchase is recognized for the difference.
You need conversion in this problem to solve it. Since you are already given of all the data, you just need to utilize the data to come up with the answer. You simply have to divide the equivalent units of a barrel with the U.S. barrels and further divide it with the equivalent gallons of U.S. barrel. You can get $2.24 ($94 / 31.5 / 1.33).<span> </span>
Answer:
$108,000
Explanation:
For computing the accumulated depreciation for the end of the second year
First we have to find the depreciation rate which is shown below:
= One ÷ useful life
= 1 ÷ 10
= 10
Now the rate is double So, 20%
In year 1, the original cost is $300,000, so the depreciation is $60,000 after applying the 20% depreciation rate
And, in year 2, the depreciation is
=($300,000 - $60,000) × 20% = $48,000
So, the accumulated depreciation at the end of the second year is
= $60,000 + $48,000
= $108,000
Answer:
To minimize cost, the pipe should follow a rectangular path.
Explanation:
Let us denote the square bottom of the dug pit as
P = S²
and its cost will be P = 2S² = 4S to dig
Let us denote the height of the pit as H,
Therefore, Total area of the pit will be:
4SH
and its cost is 2SH
The volume of the pit is
v= S²H = 4² × 2 = 128
Total cost therefore is =
C = 2S² + 2SH
This therefore translates to
128 = s²h
Making H the subject of the formula,
we have, h = 128 / S²
Cs therefore = 2S² +2S . 128 / S²
Cs = 2S² + 256 / S
Cs = 4S - 256 / S²
Cs = 4S³ - 256 / S
4S³ - 256 / S = 0
4S³ - 256 - 0 = S
Solving further, S = 4
Where,
H = 128/64
= 2
Therefor, S = 4 and H= 2
So our pipe will follow a rectangular path to properly minimize cost.
Answer:
See answer below
Explanation:
In the books of Landen Consulting, the cash payment will be recorded as follows.
Debit Cash Account $400
Credit Account Receivables $400 (this would have been Revenue if the payment was made in the same month).
Since both accounts affected are assets account, the effect of the transaction on the accounting equation will be as follows.
Equity + Liabilities = Assets
Equity + Liabilities = Assets + Cash ($400) - Account Receivables ($400)
= Equity + Liabilities = Assets.
