Answer:
If it was likely or probable that the farm co-op would meet the benchmark and get the discount (or rebate), then the journal entry should recognize that. But since it is very doubtful that the benchmark will be met, then the journal entry should be made without considering any type of discount.
I looked for a similar question in order to find the missing numbers:
each trencher is sold at $3,600 and costs $2,000
August 10, 2019, 16 mini trenchers sold to farm co-op
Dr Accounts receivable 57,600
Cr Sales revenue 57,600
Dr Cost of goods sold 32,000
Cr Inventory 32,000
Answer:
Elasticity coefficient = 0.5
Explanation:
Elasticity coefficient = percentage change in quantity demanded / percentage change in price
percentage change in price if gasoline = 20%
percentage change in quantity demanded = 10%
Elasticity coefficient = percentage change in quantity demanded / percentage change in price
= 10% / 20%
= 1/2
= 0.5
Elasticity coefficient = 0.5
Answer:
$6.25 per ton of coal
Explanation:
the depletion base = purchase cost + restoration costs
- purchase cost = $20 million
- restoration costs = $6 million
depletion base = $26,000,000
depletion rate per ton of coal = (depletion base - salvage value) / estimated reserves = ($26,000,000 - $1,000,000) / 4,000,000 = $6.25 per ton of coal
The depletion rate follows the same concepts as depreciation of fixed assets, but instead of using a fixed asset, you are extracting materials and decreasing the value of the deposits.
Answer:
C.Accounting Identity is: Assets equivalentLiabilities + Owners' Equity.
Explanation:
In accounting identity all variables must balance, if they do not balance according to the equation then there must be an error in formulation, measurement or calculation.
The basic assumption in accounting identity is that the balance sheet must balance. That is assets must be equal to a sum of liabilities and owner's equity.
Asset= Liabilities+ Owners Equity.
This relationship is based on the convention of double entry, for every debit there is an equal credit.
Answer:
The correct answer is letter "B": the introduction of Lay's Kettle Cooked potato chips, which have 40 percent less fat than regular potato chips.
Explanation:
Americans as a society are characterized by eating too much fats and sugar. <em>Hamburgers, fried potatoes, pizzas, hot dogs, brownies, chocolate, </em>and <em>donuts</em> are in their regular daily. Excessive consumption of those foods leads to diseases such as high blood pressure, cholesterol, or diabetes.
Because of that issue, companies introduce new products with fewer fats and sugar. <em>Lay's Kettle Cooked potato chips</em> is an example. The company alleges to use an old-fashioned method to fry potatoes that reduce the amount of fats in the chips.
