Answer:
$0.37
Explanation:
Depreciable cost = cost of asset - salvage value
$38,800 - $1,800 = $37,000
Depreciable cost per mile = $37,000 / 100,000 = $0.37
Answer:
Adjusted Bank Balance = $85,000
Explanation:
Adjustment of bank balance is a bank reconciliation procedure, that is used to match the amount in the bank statement with the amount in the company's balance sheet.
To adjust the bank balance, particulars that need to be subtracted or added to the bank statement balance has to be identified and treated accordingly.
For this example, the adjusted balance is calculated thus:
Adjusted bank balance = (Bank statement balance) - (outstanding checks) +(deposit in transit)
Adjusted Bank Balance = 78,000 - 2,400 + 9,400 = $85,000
Note:
outstanding checks are subtracted because they are payments to be made made by the company, representing a liability to the company (payer)
deposit in transit is an income to the company that has not been credited yet, but that will be credited.
Answer:
Sole proprietorship
Explanation:
A sole proprietorship is a business form of an organization in which there is only a single owner who operates and controls the business. The main motive of every organization is to maximize revenue, minimize losses and taxes. Also it has unlimited liability
Therefore in the given situation, the sole proprietorship would be the appropriate and the same is to be considered
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Answer:
If the price of wheat does not rise in the long run, the farmer should stop the production of wheat.
Explanation:
given data
MC = MR.
average total cost of producing wheat = $26
price of wheat = $10
solution
As long as the cost of a bushel of wheat ($ 6) exceeds the variable production cost of a bushel of wheat ($ 4), the farmer should continue to produce wheat. He loses $ 2 per bushel, but loses $ 4 if he stops producing wheat.
If the price of wheat does not rise in the long run, the farmer should stop the production of wheat.
