Answer:
a
Depreciation Expense $2,112 (debit)
Accumulated Depreciation $2,112 (credit)
b.
Cash $13,860 (debit)
Accumulated Depreciation $13,200 (debit)
Machinery at Cost $26,400 (credit)
Profit and loss $660 (credit)
Explanation:
a.
2021 Depreciation Expense calculation
Depreciation Expense = $3,168 × 8 /12
= $2,112
Therefore total accumulated depreciation will be :
Accumulated depreciation = $11,088 + $2,112
= $13,200
b.
The following happen when the asset is sold :
- Derecognize the cost of asset
- Derecognize the accumulated depreciation of the asset
- Recognize the proceeds from sale
- Recognize the profit or loss on the sale of the asset.
Answer:
Question 1 - A parcel of vacant land located at the intersection of two streets used heavily by commuters
The parcel of vacant land could be used for building a house for domestic purposes: to be inhabited by a family or any other group of people, or it could also be used for building a commercial property (for example, a convenience shop).
Because the parcel is located at an intersection where there are many commuters, the market will likely determine that a commercial property would be more profitable, since many commuters means many potential customers.
A house, on the other hand, could not be as profitable, because people tend to dislike living in places where there are many people around.
Answer:
Emotional labor
Explanation:
Emotional labor is emotional management whereby an individual is ought to fulfill the requirement of his job processes, without attaching or expressing any of his/her personal emotions. Even during interactions with colleagues,customers and management.
There are various job roles requiring emotional labor such as; social work,medical care,law,public administration e.t.c
Answer:
Letter A is correct.<em> Formation of a focus group to make sure the products meets user expectations.</em>
Explanation:
Using a focus group is an essential tool for an organization developing a new product that needs market research. The focus group is made up of a group of participants who come together for the purpose of analyzing a product or service marketing campaign and providing feedback on it.
There is a moderator responsible for listing questions about what is being reviewed, and ensuring that everyone contributes ideas and opinions. Companies typically use a variety of focus groups in different locations to ensure diversification of demographics, consumer behavior, purchasing history, and other relevant variables.
The biggest benefits seen from the focus group are: digital marketing tactics and rebranding.
Answer:
less than the social cost of producing it
Explanation:
A negative externality is a cost that is suffered by a third party as a result of an economic transaction. In a transaction, the producer and consumer are the first and second parties, and third parties include any individual, organisation, property owner, or resource that is indirectly affected. Externalities are also referred to as spill over effects, and a negative externality is also referred to as an external cost. Some externalities, like waste, arise from consumption while other externalities, like carbon emissions from factories, arise from production. For example, If we consider a manufacturer of computers which emits pollutants into the atmosphere, the free market equilibrium will occur when marginal private benefit = marginal private costs, at output Q and price P. The market equilibrium is at point A. However, if we add external costs, the socially efficient output is Q1, at point B. At Q marginal social costs (at C) are greater than marginal social benefits (at A) so there is a net loss. For example, if the marginal social benefit at A is £5m, and the marginal social cost at C is £10m, then the net welfare loss of this output is £10m - £5m = £5m. In fact, any output between Q1 and Q creates a net welfare loss, and the area for all the welfare loss is the area ABC. Therefore, in terms of welfare, markets over-produce goods that generate external costs. In the market equilibrium, the marginal consumer values the good less than the social cost of producing it.
