Answer:
Felix Incorporated
Exchange of Preferred Stock for Land:
Journal Entries:
Debit Land $90,000
Credit Preferred Stock $81,250
Credit Additional Paid-in Capital - Preferred Stock $8,750
To record the issue of 1,250 of $65 par-value preferred stock for land with a fair price of $90,000.
Explanation:
Felix Incorporated will debit Land with the fair price of $90,000 and Credit the Preferred Stock account with $81,250 (1,250 x $65) at par-value. The difference between the fair price of land and the preferred stock at par-value is credited to additional paid-in capital account for preferred stock. Felix Incorporated cannot take into account the current market value of the stock at $75 in its accounting records. The current share price of $75 is for the benefit of investors, and can only serve as basis for Felix Incorporated to decide transactions with potential investors.
I purchased (a couple years ago) a dippin dots maker for juice and things like that. It was terrible and the dippin dots did not come out right. ( I don’t remember what happened to it.)
Answer: D. Specific identification
Explanation: The specific identification method of inventory taking is probably the most time consuming. This is because it is based on principles which are: being able to track each item in an inventory; being able to track the cost of each item individually; being able to relieve inventory for the specific cost associated with an inventory item when it is sold. It is quite clear then that despite its high degree of accuracy to the cost of inventory, it is very time-consuming as it tracks inventory items on individual unit basis restricting its use to smaller inventory volumes and smaller firms.
Answer:
<u>less profit per unit</u>
Explanation:
- If a customer normally orders 1,000 units, then total profit = $100-$60 * 1000 units = <u>$40,000.</u> (i.e we subtracted cost from selling price to determine profit per unit, and then multiply by the total unit ordered to get total profit)
- If you drop the price 20% out of $100 ($100 -
$80) for the order of 2000 units, then profit = $80-$60 * 2000 = <u>$40,000.</u> (i.e we reduced selling price by 20% and then substracted cost, $60 from selling price to determine profit per unit, and then multiply by the total unit ordered to get total profit)
Although the total profit is the same, we observe that the profit per unit is lesser on the larger order, which has a profit per unit of $20 ($80-$60), while the smaller order has $40 ($100-$60) per unit profit.
Answer: None of the above
Explanation:
The options include:
A. Land degradation and soil erosion
(B) Problem of overgrazing and ecological degradation
(C) Floods
(D) None of the above
Environmental degradation simply refers to the deterioration of the environment whcih occurs when there's depletion of the resources like soil, water and air, pollution and the the destruction of habitats and ecosystems.
It should be noted that environmental degradation consist of land degradation and soil erosion, problem of overgrazing and ecological degradation, floods etc.
Therefore, the correct option is None of the above.
