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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

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A. Venture capitalists.

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8 0
3 years ago
Which of the following pairs of elements are likely to form an ionic compound? Check all that apply. Check all that apply. lithi
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Answer:

lithium and chlorine

potassium and oxygen

Explanation:

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The best option is the bonding between lithium (cations) and chlorine(anions) and potassium(cations) and oxygen(anions).

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7 0
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Randall's has 28,000 shares of stock outstanding with a par value of $1 per share. The market value is $13 per share. The balanc
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Answer: $38,200

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