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2 years ago

What does non current assets mean

Business

1 answer:

coldgirl [10]2 years ago

6 0

Answer:

assets whose value is not realized in the current year

Explanation:

A <em>noncurrent asset</em> is generally a long-term investment whose value will not be fully realized in the current accounting year. The cost of the asset is allocated over the period the asset is in use, rather than being expensed in the year it is acquired.

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The Country Music Hall of Fame is considering increasing admission prices to increase gross revenue. If the price of admission r

Kitty [74]

Answer:

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Elasticity of demand = percentage change in quantity demanded / percentage change in price

Percentage change in quantity demanded = (30/20) - 1 = 0.5 = 50%

Percentage change in price = (1500 / 3000) - 1 = 0.5 = 50%

50% / 50% = 1

I hope my answer helps you

3 0

3 years ago

Mercury Inc. purchased equipment in 2019 at a cost of $497,000. The equipment was expected to produce 580,000 units over the nex

Ivan

Answer:

Gain or (Loss) on sale = (17000) Loss

Cash 253600 Dr

Accumulated Depreciation 226400 Dr

Loss on Sale 17000 Dr

Equipment 497000 Cr

Gain or (Loss) on sale = 9400 Gain

Cash 280000 Dr

Accumulated Depreciation 226400 Dr

Gain on Sale 9400 Cr

Equipment 497000 Cr

Explanation:

We first need to calculate the carrying value of the equipment at the date of disposal. The carrying value is calculated as follows,

Carrying value = Cost - Accumulated depreciation

Depreciation 2019 = (497000 - 33000) * 83000 / 580000

Depreciation 2019 = 66400

Depreciation 2020 = (497000 - 33000) * 133000 / 580000

Depreciation 2020 = 106400

Depreciation 2021 = (497000 - 33000) * 67000 / 580000

Depreciation 2021 = 53600

Carrying value = 497000 - [ 66400 + 106400 + 53600 ]

Carrying value = $270600

Gain or (Loss) on sale = Sales price - Carrying Value

Gain or (Loss) on sale = 253600 - 270600

Gain or (Loss) on sale = (17000) Loss

Cash 253600 Dr

Accumulated Depreciation 226400 Dr

Loss on Sale 17000 Dr

Equipment 497000 Cr

Gain or (Loss) on sale = Sales price - Carrying Value

Gain or (Loss) on sale = 280000 - 270600

Gain or (Loss) on sale = 9400 Gain

Cash 280000 Dr

Accumulated Depreciation 226400 Dr

Gain on Sale 9400 Cr

Equipment 497000 Cr

6 0

3 years ago

All of the following are examples of fiscal policy except __________.

timama [110]

The given options are all examples of fiscal policy enacted by government except d. lowering the interest rate.

<h3>What is fiscal policy?</h3>

Fiscal policy refers to actions by the government that are meant to improve or constrict economic activity.

They do so by either spending, reducing spending, or altering tax rates. Fiscal policy does not directly influence interest rates as this is done by monetary policy.

Find out more on fiscal policy at brainly.com/question/6583917.

3 0

2 years ago

Emily Corporation purchased all of Ace Company's common stock on January 1, 2020, for $1,000,000 cash. The investee's stockholde

Reika [66]

Answer:

$ 1,125,000

Explanation:

Calculation for the amount of Equity Income that Emily will record

First step is to find the Net equity income using this formula

Net equity income= Net income +Dividends

Let plug in the formula

Net equity income=$250,000+$25,000

Net equity income=$225,000

Second step is to find the balance of investment using this formula

Balance of investment= (Common stock + Net equity income )- Amortization of unrecorded patent

Let plug in the formula

Balance of investment =($1,000,000+$225,000 )-($600,000/6)

Balance of investment=$1,225,000-$100,000

Balance of investment = $ 1,125,000

Therefore the amount of Equity Income that Emily will record will be $ 1,125,000

5 0

2 years ago

Ethan founded and operated a lunch-only catering business, which specialized in providing fresh, delectable, eat-at-your-desk lu

Tom [10]

Answer:

Sole Proprietorship.

Explanation:

This is an example of a Sole Proprietorship. It is a form of business owned by one person . The owner provides the capital (usually not that large) , has unlimited liability in the business, and the life of the business depends on the existence of the owner; if he falls ill or passes away and there's no succession plan, the business would dissolve.

5 0

3 years ago