True or False: In a competitive labor market, increasing the minimum wage always raises the number of employed workers.

Fortune Drilling Company acquires a mineral deposit at a cost of $5,900,000. It incurs additional costs of $600,000 to access th

IgorC [24]

Answer and Explanation:

the journal entry is given below:

Depletion Expense $1,358,500

To Accumulated Depletion $1,358,500.

(Being depletion expense is recorded)

Here the depletion expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets

Working note

Depletion expense is

= ($5,900,000 + $600,000) ÷ $2,000,000 × 418,000

= $1,358,500

8 0

3 years ago

Able Pads, Inc., sells plain white printer paper in a perfectly competitive market. What does its individual demand curve look l

nirvana33 [79]

Answer:

The demand curve will look like a straight line .

Explanation:

Perfect competition is that in which there are large number of buyers and large number of sellers of a commodity and no individual sellers or buyer can control the prices. If the seller try to influence the price then they will loss their buyers as there are many other seller also exist in the market.

Under perfect competition , the firm produce homogeneous product. Both buyers and sellers have full knowledge of the market.

The curve under perfect competition is indicated by horizontal . It shows that a firm can sell any quantity of a product at the prevailing price . And no quantity if they influence the price.

<u>The figure under shows the curve:</u>

3 0

3 years ago

The ________ takes into account such costs as deteriorated customer relations and lost sales

Sergio039 [100]

The <u>Full cost view of maintenance</u> takes into account such costs as deteriorated customer relations and lost sales.

a cost that an employer has when they employ someone, in addition to the cost of paying the person's salary or wages. cost is the amount or equivalent paid or charged for something .

Examples of costs are rent and lease costs, salaries, utility bills, insurance, and loan repayments.

Direct, indirect, fixed, and variable are the 4 main kinds of cost.

learn more about cost here

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7 0

2 years ago

Which of the following would most likely suffer the least from the costs of inflation?

Arturiano [62]

Answer:

B. Persons on fixed incomes.

Explanation:

Inflation is a general increase in prices and fall in the purchasing value of money, therefore, a person with a fixed income will not be affected.

8 0

3 years ago

"Dubas Co. is a U.S.-based MNC that has a subsidiary in Germany and another subsidiary in Austria. Both subsidiaries frequently

OverLord2011 [107]

Answer:

$525,000

Explanation:

The computation of the net inflow or outflow is shown below:

= Total outflow - total inflow

where,

Total outflow = ∈2,000,000 × $1.05 = $2,100,000

Total inflow = ∈1,500,000 × $1.05 = $1,575,000

Now put these values to the above formula

So, the value would equal to

= $2,100,000 - $1,575,000

= $525,000

This amount shows a net outflow as total outflow is greater than the total inflow.

3 0

3 years ago