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3 years ago

What information does a supply schedule provide?

Business

1 answer:

lesya [120]3 years ago

7 0

Answer:

See below

Explanation:

A supply schedule shows the quantities that suppliers are willing to sell in the market at different prices. It is a table format with quantity on one column and prices on another. As per the law of supply, high prices lead suppliers to supply more at the market.

The supply schedule illustrates in a table format the relations between the price and the quantity supplied. It will show how the quantity increase as prices increases. The supply schedule is a tabular representation of the supply curve.

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At the beginning of 2020, Concord Company acquired a mine for $3,251,600. Of this amount, $124,000 was ascribed to the land valu

Sav [38]

Answer:

A. $737,520

B. $530,320

Explanation:

a. Computation for the total amount of depletion for 2020.

First step is to calculate the Depletion Rate

Depletion Rate = ($3,251,600 - $124,000 + $49,600 + $210,800)/12,100,000

Depletion Rate= $3,388,000/ 12,100,000

Depletion Rate= 0.28

Now let calculate the total amount of depletion for 2020.

2020 Total amount of depletion= 0.28 × $2,634,000

2020 Total amount of depletion= $737,520

Therefore the total amount of depletion for 2020 is $737,520

B. Computation for the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2020.

Expense amount charged= ($737,520/$2,634,000)* 1,894,000

Expense amount charged=0.28 *1,894,000

Expense amount charged=$530,320

Therefore the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2020 is $530,320

7 0

2 years ago

In the _____ way of knowing things, people hold firmly to some belief because some respected official, agency, or source has sai

NeTakaya

Answer:

Letter B is correct.<u> Method of authotity.</u>

Explanation:

The method of acquiring knowledge by authority is one of the most widespread ways of obtaining knowledge in society. It is characterized as the implementation and learning of a new idea or belief because some authority figure affirmed a certain concept as true, which ensures greater reliability. and acceptance. As examples of authorities, we can mention: doctors, teachers, bosses, government, parents and others.

But in an ideal scenario it is important to analyze what methods and sources the authority figures have determined for a conclusion about something, one should seek to exercise critical sense to rationalize the beliefs and decisions that are imposed as truth. .

3 0

2 years ago

Look at the picture, which one is the correct answer?

Vinil7 [7]

I think it “A law of demand”?

4 0

3 years ago

Explain the meaning of personal account,real account and nominal account,give five examples each

zysi [14]

Answer:

<h3>An example of a Real Account is a Bank Account. A Personal account is a General ledger account connected to all persons like individuals, firms and associations. ... A Nominal account is a General ledger account pertaining to all income, expenses, losses and gains. An example of a Nominal Account is an Interest Account</h3>

3 0

2 years ago

Assume Shamrock estimates bad debts based on 5% of the Accounts Receivables ending balance (as of Dec. 31, 20x2). Determine Bad

a_sh-v [17]

Answer:

Bad Debt Expense for 20x2 is $50,245

Explanation:

Note: The full question is attached as picture below

Ending balance = Beginning balance + Sales on account or credit sales - Cash collected - Uncollected accounts

Beginning balance of Accounts receivable (given) = $850000

Credit sales in 20X2 = 80% * $3125000 = $2500000

Cash collections (given) = $2400000

Uncollectible accounts (given) = $52100

Ending balance = $850000 + $2500000 - $2400000 - $52100 = $897900

Allowance required to be made for 20X2 = 5% of Accounts receivables ending balance on 20X2 = 5% * $897900 = $44895

First we will write off uncollectible accounts of $52100 from the beginning balance of allowance for uncollectible accounts. (Beginning balance of allowance for doubtful accounts = $46750 ).

Difference = Beginning balance of allowance account - Uncollectible accounts = $46750 - $52100 = - $5350

It means that there is a shortfall of $5350 in the allowance for doubtful accounts. And, also a total of $44895 should be there in the credit of Allowance for doubtful accounts at the end of 20X2. Allowance needed in 20X2 = $44895 + $5350 = $50,245 . So, the Bad debt expense for 20X2 is $50,245.

7 0

2 years ago