Answer and Explanation:
the journal entry is given below:
Depletion Expense $1,358,500
To Accumulated Depletion $1,358,500.
(Being depletion expense is recorded)
Here the depletion expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets
Working note
Depletion expense is
= ($5,900,000 + $600,000) ÷ $2,000,000 × 418,000
= $1,358,500
The answer is Equity Index Insurance. The equity index insurance is a stable life insurance policy that allows policyholders to tie build-up values to a stock market index. The indexed universal life insurance policies characteristically comprise a minimum definite fixed interest rate constituent along with the indexed account selection. The equity index insurance work as the total sum of cash value is accredited with interest founded on increases in an equity index but it is not openly capitalized in the stock market. Some policies permit the policyholder to select numerous index
The annual rate will increase with the greatest speed from year 1 to year 3.
<h3>What is the growth rate?</h3>
A growth rate is the proportion that changes the price of all goods and services produced in a country over a specific time period in comparison to a previous period.
The growth rate is used to measure the comparative fitness of an economic system over time. The numbers are commonly compiled and announced quarterly and annually.
From 1948 to 2021, the GDP Annual Growth Rate in the United States averaged 3.14 percent, with an all-time high of 13.4 percent in the fourth sector of 1950.
From the above declaration, it's clear that choice C, year 1 to year 3, is the proper option.
Learn more about Growth rate, refer to:
brainly.com/question/13776641
Answer:
To no the prices of goods and service and to buy stuff at low prices.
Explanation:
A purely competitive market is a situation where multiplier sellers have homogeneous products. The availability of the information is very important in a purely competitive market in order to decide how many sellers are selling the same product and from where an individual can buy products at low prices. Availability of information means, no seller can earn abnormal profits.
Answer:
$1,500,000
Explanation:
Data provided in the question:
contribution margin of the company = $1,000,000
Contribution margin ratio = 40%
Now,
The sales = (contribution margin) / (Contribution margin ratio)
thus,
Sales = 
or
sales = $2,500,000
Therefore,
Variable cost = Sales - Contribution margin
or
Variable cost = $2,500,000 - $1,000,000 = $1,500,000
