When an owner deposits cash in an account in the name of the business, it is an increase to: a. cash and accounts
What does deposit of owner mean for the business?
First and foremost, by depositing the cash in the name of the business, the firm's cash balance would increase by the amount deposited, however the cash deposit coming from the owner also indicates that the owner is investing additional cash in the business, which means that equity is also affected by $1000 cash deposit in business name
In essence, the effects are that the cash would increase, so also the equity balance of the business, hence, the first option is correct.
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Answer:
finite and take millions of years to replenish
Explanation:
Oil reserves can be regarded as a the amount of crude oil which can be recovered technically at a cost which is feasible financially as regards present price of oil. Therefore, there will always be change in reserve with the price, compare with oil resources, that encompass all oil which can be technically recovered at any price.
Oil reserves can also be explained as estimate amount of crude oil that is been located in a particular economic region. oil reserves always posses potential of being extracted through current technological constraints. Calculations of Reserves based on a proven/probable basis, which means that oil pools which is situated in unattainable depths, cannot be said to be part of a nation's reserves. It should be noted that Oil reserves buried deep underground are finite and take millions of years to replenish
Answer:
Standard Overhead rate is $1.25 per Direct labor hours
Explanation:
Total variable cost (2000 unit * $2.50) = $5,000
Total fixed cost = <u>$5,000</u>
Estimated Overhead cost = <u>$10,000</u>
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Estimated Direct labor hour = 2000 unit * 4 hours = 8,000 hours
Standard Overhead rate = Estimated overhead cost / Estimated Direct labor hour
Standard Overhead rate = $10,000 / 8,000 hours
Standard Overhead rate = $1.25 per Direct labor hours
Answer:
a) 3,000
b) 396,850
c) 2,976.38
d) 393,873.62
Explanation:
a) principal x rate x time = interest
400,000 x 0.09 x 1/12 = 3,000
b) 6,150 - 3,000 = 3,150 principal payment
400,000 - 3,150 = 396,850
c) principal (carrying value) x rate x time = interest
396,850 x 0.09 x 1/12 = 2,976.38
d) 396,850 - 2,976.38 = 393,873.62