1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MrRa [10]
3 years ago
8

Gunk Co. reported an asset retirement obligation on its 2019 financial statements. The present value of the liability for the as

set retirement obligation at the end of 2019 was $393. The company's discount rate is 8%. What is the amount of accretion expense Gunk will record in 2020 related to the asset retirement obligation
Business
1 answer:
iVinArrow [24]3 years ago
4 0

Answer:

$31.44

Explanation:

The accretion expense each year will be calculated as = Present value of the Asset retirement obligation at the end of the previous year * Discount Rate

Hence, the amount of accretion expense Gunk will record in 2020 related to the asset retirement obligation

= $393 * 8%

= $31.44

You might be interested in
Manufacturing companies especially those which manufacture chemicals or use chemicals must be in compliance with construction la
wolverine [178]

Answer: right to know laws

Explanation: Under the laws of right-to-know, it is the right of workers to avail their employers  information on the hazardous chemicals at the workplace. This is in accordance with the OSHA standards and is therefore applicable to manufacturing companies, particularly those producing chemicals or using chemicals.

This law specifies perspectives such as:-

1. Employer must maintain a list of all hazardous products in the work place.

2. Labeling of chemical containers must be done.

3. Material safety data sheets must be prepared.

4. Workers must be trained to use such chemicals.

3 0
3 years ago
kristen and harrison are equal partners in the kh partnership. the partners formed the partnership 5 years ago by contributing c
Sauron [17]

Answer: Harrison will acknowledge a gain equal to the difference between his basis and the distribution . This is because he receives only money in the distribution and the amount transcend his basis in KH. He further allot his entire basis in KH to the basis in the money received resulting in $0 basis in KH after the distribution.

∴ <em>The capital gain will be $6000 i.e. (50000 - 44000) and $0 basis.</em>

4 0
3 years ago
A _______ is a share of ownership in a company.
Dvinal [7]

Answer:

Partnership

Explanation:

When you share ownership of a company, you are partnering with someone.

8 0
3 years ago
Read 2 more answers
If a married couple have a joint account with a market value of $1 million and a debit balance of $600,000, all of which is in s
Cerrena [4.2K]

$400,000 equity will be the coverage provided for the account.

<h3>What is a joint account?</h3>

A joint account is just another saving account, but the difference is that it is shared between two people, i.e, two people are the owner of that account this is generally shared between two partners or a spouse.  

The maximum bandwidth for a joint account is $500,000; but, a margin account only covers the equity, thus the debit balance is deducted from the market value. from deducting the market value of $1 million from the debit balance of $600,00  to leave $400,000 equity.

Learn more about the joint account, here:

brainly.com/question/23507729

#SPJ4

7 0
2 years ago
Poskey Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following
MrRa [10]

Answer:

\left[\begin{array}{cccccc}&Cost&Assembly&Setting Up&Other&Total\\wages&349,000&226,850&69,800&52,350&349,000\\Depreciation&290,000&101,500&58,000&130,500&290,000&Utilities&199,000&29,850&149,250&19,900&199,000&Total&838,000&358,200&277,050&202,750&838,000&\end{array}\right]

Explanation:

We mulitply each line by the stated percent of each activity

<u>for example</u>

Setting Up % x Utilities= Utilities cost assigned to setting up

199,000x 75% = 149,250

Assembly % Depreciation= Depreciation cost assigned to assembly

35% x 290,000 = 101,500

This process must be done to assign each portion of cost.

6 0
3 years ago
Other questions:
  • Your business partner has proposed you to join him (her) in investing $100000 each in a new enterprise. assume that you have tha
    12·1 answer
  • A. Everyone benefits from street lighting, yet the marginal benefit to any one individual usually falls short of the marginal co
    6·1 answer
  • George manages inventory for a company. The company has been struggling to reduce production costs in all departments for severa
    6·1 answer
  • With _____, resources are wasted because they are not used efficiently.
    15·2 answers
  • Despite public dissatisfaction over rampant inflation in the united states, truman’s image as a leader was bolstered by
    10·1 answer
  • What are the related areas of modern technology?<br>​
    7·1 answer
  • There are 10,000 shares of $20 par value cumulative 7 percent preferred stock outstanding, and 90,000 shares of common stock out
    12·1 answer
  • On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360 in assets in exchange for i
    11·1 answer
  • You gave some clothes for. dry cleaning. Your suit was spoiled you went to the dry cleaner and made the compliant .
    14·1 answer
  • Employees who are part of the chain of command that is responsible for achieving organizational goals.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!