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]
2 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]2 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
The most common occupational frauds in small businesses involve employees doing all of the following EXCEPT______________.a. ski
kotykmax [81]

Answer:

D. Altering financial statement

Explanation:

4 0
2 years ago
A rock star intentionally sets her ticket prices below what would be necessary to sell out her shows. how might this be justifie
drek231 [11]
<span>the answer to this question is: The revenue sacrificed represents a very small share of the show's revenue
The only way the show can still earn profit by selling cheap tickets is if they're gaining additional revenue from another streatm of income, such as selling merchandise on the concerts, providing beer and snacks, or selling autograph and photos</span>
6 0
2 years ago
Assume that the friend in the previous question notified the owner of the office building of the assignment. When the work was c
Cerrena [4.2K]

Answer:

Stop assuming then....hehe haha don't know ur previous ques and too lazy to open it and even too lazy to read it full sorry

8 0
2 years ago
A company's issued share capital throughout an accounting period consists of 500,000 common shares of 20 cent each and 100,000 p
ella [17]

Answer:

a. $0.30

Explanation:

Basic Earning Per Share (BEPS) = Earnings Attributable to Holders of Common Stock ÷ Weighted Average Number of Common Stock.

Earnings Attributable to Holders of Common Stock calculation :

Net income after tax for the period                            $160,000

Less Preference Dividend                                           ($10,000)

Earnings Attributable to Holders of Common Stock $150,000

Weighted Average Number of Common Stock calculation :

Outstanding common shares                                      500,000

Therefore,

Basic Earning Per Share (BEPS) = $150,000 ÷ 500,000

                                                     = $0.30

7 0
3 years ago
Respecting team members means agreeing with everything they think. True False
vovangra [49]

false: it means you dont have to agree with them but you have to respect their opinion

7 0
3 years ago
Read 2 more answers
Other questions:
  • Thornton, Inc. has budgeted sales for the months of September and October at $ 304 comma 000 and $ 282 comma 000​, respectively.
    5·1 answer
  • Which is a valid counterargument to the call for higher tariffs to save u.s. jobs? imports may eliminate some u.s. jobs, but the
    8·1 answer
  • The government of Wrexington, a country which has adopted American GDP accounting conventions, has calculated that the seasonall
    5·1 answer
  • Creighton Company reported the following on the company's income statement for the year. Interest expense $600,000 Income before
    5·1 answer
  • The stage at which a project is conceived is known as the ________ process
    11·1 answer
  • What is overdraft protection (ODP)?
    12·1 answer
  • The merger between two general merchandise stores Sears and K-Mart who each carried some specialty items will most likely produc
    14·1 answer
  • A group of elderly men, whose government disability benefits are the sole source of income, is approached to consider an experim
    5·1 answer
  • The menu in a franchise restaurant differs from that of an independently owned restaurant in which of the following ways
    5·1 answer
  • Part P40 is a part used in the production of air conditioners at Jackson Corporation. The following costs and data relate Number
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!